Replies to post #196674 on Biotech Values

[biomaven0]

The Treasury issues literally thousands of Regs that interpret existing statutes. So long as the Regs reasonably interpret the statute (in this case Sec. 7874), the courts give them considerable deference.

Here's the relevant statute, which specifically allows Regs to interpret it:

https://www.law.cornell.edu/uscode/text/26/7874