Page 252 - Large Business IRS Training Guides

Proposed Regulations (NPRM)

• Announces to the public that the IRS and Treasury are

considering issuing rules on matters not addressed in

existing regulations or modifying regulations published in the

Code of Federal Regulations (CFR).

• Contain a preamble that explains the rules, provides notice

to the public about proposed rulemaking and requests public

comments.

• Sets out the proposed regulatory text.

• Provides notice of public hearings of the regulations.

• Prior to adoption, may be withdrawn or modified at any time.

• Unlike Treasury Decisions (TDs), NPRMs do not have full

force and legal effect unless and until they are adopted as

final regulations (in the proposed or modified form).

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