Section 015. Internal Revenue Code (Rule 015)

Section 63-3004, Idaho Code 01. Interpretations. Interpretations of the Internal Revenue Code may be found in various sources . These sources include decisions of the Tax Court, Congressional Committee Reports, General Counsel Memoranda , Decisions of the Federal and State Courts on federal income tax issues and Treasury Regulations. Thes e interpretations are adopted by this reference to the extent that they are not in conflict with or inconsistent with the Idaho Code or administrative rules. (4-6-23) 02. Retroactive Amendments. For the purpose of determining federal taxable income, any retroactiv e amendments to the Internal Revenue Code that are enacted on or before the date found in Section 63-3004, Idah o Code, are applied retroactively to the extent allowed under federal law. (4-6-23) 03. Tax Commission Granted Discretion in Determining Correctness of Tax Return. Discretio n granted to the Secretary of the Treasury to determine or reallocate items of income or adjustments to income , deductions, expenses, credits or other subjects of taxation by the Internal Revenue Code may also be exercised by th e Tax Commission and its authorized agents, employees and deputies to enforce and administer the Idaho Income Tax Act and these rules. (4-6-23)