Which of the following statements is incorrect regarding Treasury regulations?

Multiple choice question.

Temporary regulations carry less authoritative weight than final regulations.

Proposed regulations allow public comment on them.

Proposed regulations do not carry the same authoritative weight as final regulations.

Final regulations represent the Treasury's interpretation of the Code.

1 answer

The incorrect statement regarding Treasury regulations is:

Temporary regulations carry less authoritative weight than final regulations.

Temporary regulations have the same authoritative weight as final regulations, as both types are issued under the Treasury's authority and are legally binding. Proposed regulations, on the other hand, are meant for public comment and do not carry the same authoritative power as final regulations.