In Addressing the Importance of a Regulation, an IRS Agent

question 35

Multiple Choice

In addressing the importance of a Regulation, an IRS agent must:

• A)Give equal weight to the Internal Revenue Code and the Regulations.
• B)Give more weight to the Internal Revenue Code rather than to a Regulation.
• C)Give more weight to the Regulation rather than to the Internal Revenue Code.
• D)Give less weight to the Internal Revenue Code rather than to a Regulation.
• E)None of these.

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Definitions:

Sweetener

An additional enticement or incentive provided to make an offer or deal more attractive, often seen in financial agreements.

Private Placements

Loans, usually long term in nature, provided directly by a limited number of investors.

Warrants

Financial derivatives that give the holder the right, but not the obligation, to buy or sell a security—most commonly equity—at a predetermined price before a specified date.

Bonds

Fixed income securities that represent a loan from an investor to a borrower, typically corporate or governmental, with terms including the interest rate and repayment date.