Which of the following authorities carries the highest weight in the federal tax hierarchy?

Answer options:

Temporary Treasury Regulations

Revenue Rulings

Proposed Treasury Regulations

Private Letter Rulings

How to approach this question

Hierarchy: IRC > Regulations (Final/Temp) > Revenue Rulings > PLRs/Proposed Regs.

Full Answer

A.Temporary Treasury Regulations✓ Correct

Temporary Treasury Regulations have the same authoritative weight as Final Regulations. They are binding on both the IRS and the taxpayer. Revenue Rulings and PLRs are administrative pronouncements with less weight.

Common mistakes

Thinking Temporary Regulations are weak because they are 'temporary'. They are fully binding for 3 years.

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