- 12 - changed to September 3, 1992, at 10 a.m., in room 2615, Internal Revenue Service Building, 1111 Constitution Avenue, N.W., Washington, D.C. 57 Fed. Reg. 23356 (June 3, 1992). As is true in the case of section 1.469-2(f)(6), Income Tax Regs., the fact that section 1.469-4(a), Income Tax Regs, was prescribed by the Commissioner pursuant in part to the specific grant of authority stated in section 469(l), and that section 1.469-4(a), Income Tax Regs., contains substantive rules that are legislative in character, means that the promulgation of section 1.469-4(a), Income Tax Regs., is not excepted from the notice and comment requirements of the APA, 5 U.S.C. sec. 553(b) and (c) (1994). See Chevron, U.S.A., Inc. v. Natural Resources Defense Council, Inc., 467 U.S. at 843-844; Bankers Life & Cas. Co. v. United States, 142 F.3d at 978-979; Water Quality Association Employees' Benefit Corp. v. United States, 795 F.2d at 1305; Wing v. Commissioner, 81 T.C. at 28; see also Schaefer v. Commissioner, 105 T.C. at 229-231 (sec. 1.469-2T(c)(7)(iv), Temporary Income Tax Regs., 53 Fed. Reg. 5716, is a legislative regulation because it was issued under the specific grant of authority contained in sec. 469(l)(2)). Section 469, the section of the Code to which sections 1.469-2(f)(6) and 1.469-4(a), Income Tax Regs., relate, was enacted by Congress as part of the Tax Reform Act of 1986 (TRA), Pub. L. 99-514, sec. 501(a), 100 Stat. 2085, 2233, in response to congressional concern that certain categories of taxpayers werePage: Previous 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Next
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