IRS Agents Are Bound Only by Which Types of Authority

question 40

Multiple Choice

IRS agents are bound only by which types of authority?

• A) The Code.
• B) The Code, administrative pronouncements and Supreme Court decisions.
• C) Second and Ninth Circuit Court Decisions.
• D) The Code and Regulations.

---

Definitions:

Publicly Held

Refers to a company whose shares are traded openly on the stock market, allowing public investors to buy and sell.

Tax Cuts

Reductions in the amount of taxes imposed by a governing body, typically aimed at stimulating economic growth or achieving other fiscal policy goals.

Crowding-In Effect

An economic concept where increased government spending leads to higher private sector investment, contrary to the crowding-out effect.

Aggregate Demand

Aggregate economic demand for products and services, assessed at a certain overall price point during a predefined time span.