Need accounting help to provide the major sources of guidance for tax professionals

Accounting
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Provide the major sources of guidance for tax professionals

Jan 9th, 2016

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Executive agencies, like the Treasury Department, get their authority to issue regulations from laws enacted by Congress. Typically, when Congress creates an agency, that agency is given general authority to regulate certain activity within the confines of that agency’s purpose. While agencies do not enact or create actual law, they are empowered with creating rules to be followed in furtherance of a particular enacted legal provision and for the enforcement of the law. Consequently, although regulations are not technically laws, they carry significant authority, and generally must be adhered to by the public. Federal Rulemaking Procedures The Federal Administrative Procedure Act sets forth the procedures that the IRS and other federal agencies must follow to propose and establish regulations. Generally, regulations are first published as proposed regulations in the Federal Register. The public is invited to participate in the rulemaking process, and the IRS often holds public hearings on regulations it has proposed. Based on the rulemaking record and public input, a proposed regulation may be modified or withdrawn, or the agency may proceed with a final rule. Final regulations (and temporary regulations) are published via Treasury Decisions (TDs) in the Federal Registe

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Jan 9th, 2016

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Jan 9th, 2016
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Jan 9th, 2016
Dec 6th, 2016
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