A bill to amend the Internal Revenue Code of 1954 to provide that any written interpretation of a tax law which is issued by the Internal Revenue Service to a taxpayer shall be binding with respect to such taxpayer until the Internal Revenue Service revokes the interpretation.

Summary

Amends the Internal Revenue Code to provide that any written interpretation of a tax law which is issued by the Internal Revenue Service to a taxpayer shall be binding unless: (1) legislation enacted after the date of the written interpretation renders such interpretation inapplicable; (2) the interpretation is revoked; or (3) the facts upon which such interpretation was based have materially changed. Prohibits the revocation of a written interpretation from taking retroactive effect. Renders void any written interpretation which is based on false or misleading facts submitted by the taxpayer.

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Documents

1 official file

• Introduced in House

  summary · EN · 7 June 1978

  Open at official source

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