Which Is Not a Primary Source of Tax Law

question 70

Multiple Choice

Which is not a primary source of tax law?

• A) Notice 89-99, 1989-2 C.B. 422.
• B) Estate of Harry Holmes v. Comm., 326 U.S. 480 (1946).
• C) Rev. Rul. 79-353, 1979-2 C.B. 325.
• D) Temp. Reg. § 1.752-4T(f).
• E) All of the above are primary sources.

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Definitions:

Retained Earnings

Retained Earnings represent a company's accumulated net income that is reinvested into the business or used to pay down debt, rather than distributed to shareholders as dividends.

Dividends

Dividends are payments made by a corporation to its shareholder members. It is the portion of corporate profits paid out to stockholders.

Treasury Stock

Treasury Stock refers to shares that were once part of the outstanding shares of a company but were later reacquired by the company itself.

Issued Shares

The total number of shares that have been allocated to shareholders, including both public investors and company officers.