Administrative Tax Law Tx 8030

Dual Dimensions of Tax Laws Internal Revenue Code Treasury Regulations Revenue Rulings Revenue Procedures Judicial Decisions PLRs TAMs Internal Memos

Regulations: Purpose Interpret and explains the _____ Provides details that ________ did not Uses simple __________ to illustrate points

Regulations: Numbering System Example: Reg. § (a)(2) –Prefix identifies type of ____ –IRC section follows _______ –Recent practice is to add ___________ –Reg. number follows _______ –Cap T identifies __________ regulations –Paragraph and _____________

Regulations: Nature and Legal Weight Legislative regulations –Requested by __________ –Nearly “______ and _______” of law –Involves ____ rules, not just interpretation –____ applied retroactively General or interpretative regulations –Merely _________ existing law –May apply ______________ –Still difficult to _________

Regulations: Nature and Legal Weight Reenactment doctrine IRS may apply _____________ regulations Section _____ imposes an accuracy-related penalty for “negligence or disregard of rules and regulations.” Regs are not continuously ________ and often are _____________ with the Code

Regulations: Type Proposed regulations –Analogous to tax ______; provide __________ –Less ______ than final or temporary regulations –Comment period of ≥ ___ days Temporary regulations –Same weight as ______ regulations –Simultaneously issued as ________ regulations –Provide _____ guidance and stop taxpayer ____ –Expire after __ years Final regulations

Regulations: Publication Appear in most tax services, LEXIS, and CheckPoint “The Regs aren’t ____ ____” –§385 (issued in _____) –Rely on ___________ reports –Note ____________ date

Revenue Rulings: Numbering System Rev. Rul , IRB 6 –Temporary cite –_____ ruling issued in _____ –____ weekly bulletin on page __ Rev. Rul , CB 135 –Permanent cite –_____ ruling issued in _____ –____ volume of _____ CBs on page ____

Revenue Rulings: Authority & Scope Do not have _____ and effect of ____ Useful as precedent –____ litigation position –Not ________ on courts –Check ________ for status –Check for _______ when Code and Regs have changed

Revenue Procedures Involve either: –___________ procedures taxpayers use –IRS internal _________ Similar to Revenue Rulings in: –Authority –Citation form –Publication

Written Determinations: Types Private Letter Rulings –__________ transactions –IRS ________ Office Technical Advice Memorandum –___________ transactions –IRS ________ Office Determination Letters –Questions of _______ –IRS _______ Office

Written Determinations: Legal Weight Cannot be used as _________ Slightly authoritative

Written Determinations: Numbering System Example: PLR –____ ruling –_____ week –_____

Written Determinations: Publications Government does not _______ Commercially available LEXIS and CheckPoint

Internal Memoranda General Counsel Memorandums –About _______ Rev. Rul., PLRs, and TAMs –______ Memorandums since 1980 Actions on Decisions –IRS decision whether to ______ –IRS decision whether to ________ Technical Memoranda –Background about _________ regulations

Information Releases News or Information Releases Notices –New _____, changes in _________ rates, etc. –May curb abuse without issuing __________ –Published in ____ Announcements –_______ of law, not substantive interpretation –Previews of soon-to-be-released __________ –Published only in _____