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Uncollectible Amount that was similar, but not identical, to the
Black Motor formula. Consequently, we do not find the
legislative history to clearly reveal Congress' intent as to the
method of calculating the Uncollectible Amount. In the absence
of a clear indication of congressional intent on the precise
question in issue, our next task is to decide whether the
temporary regulations13 promulgated under section 448(d)(5) are a
permissible construction of the statute.
Are the Amended Regulations a Permissible Construction of
the Statute?
To be valid, section 1.448-2T(e)(2)(i), Temporary Income Tax
Regs., 53 Fed. Reg. 12513-12514 (Apr. 15, 1988), need not be the
only, or even the best, construction of section 448(d)(5).
Rather, the Amended Regulations need only be a reasonable
interpretation of congressional intent. Chevron U.S.A., Inc. v.
Natural Res. Def. Council, Inc., 467 U.S. at 843; Peoples Fed.
Sav. & Loan Association v. Commissioner, 948 F.2d at 299-300.
"The choice among reasonable interpretations is for the
Commissioner, not the courts." National Muffler Dealers
Association v. United States, 440 U.S. 472, 488 (1979); see also
13 Temporary regulations are entitled to the same weight as
final regulations. Peterson Marital Trust v. Commissioner, 102
T.C. 790, 797 (1994), affd. 78 F.3d 795 (2d Cir. 1996); see also
Truck & Equip. Corp. v. Commissioner, 98 T.C. 141, 149 (1992);
Nissho Iwai Am. Corp. v. Commissioner, 89 T.C. 765, 776 (1987);
Zinniel v. Commissioner, 89 T.C. 357, 369 (1987).
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