ruling


Also found in: Dictionary, Thesaurus, Medical, Legal, Idioms, Encyclopedia, Wikipedia.

Ruling

An official opinion by the IRS on how it interprets U.S. tax law. The IRS may make a ruling, for example, after seeing taxpayers apply a deduction or credit to an unusual, but still relevant situation. The IRS determines whether or not it will accept the situation, and, afterward, applies the ruling to all comparable situations. It is also called a revenue ruling, a letter ruling, or a private letter ruling.

ruling

References in classic literature ?
And here it becomes evident, that the bourgeoisie is unfit any longer to be the ruling class in society, and to impose its conditions of existence upon society as an over-riding law.
He had originally been of inferior rank, ruling over only one or two districts of Owyhee, but had gradually made himself sovereign of his native island.
Dogs are at the best no more than verminous vagrants, self-scratchers, foul feeders, and unclean by the law of Moses and Mohammed; but a dog with whom one lives alone for at least six months in the year; a free thing, tied to you so strictly by love that without you he will not stir or exercise; a patient, temperate, humorous, wise soul, who knows your moods before you know them yourself, is not a dog under any ruling.
Piombo saw nothing more than childish nonsense in these fictitious quarrels, but the child was all the while acquiring a habit of ruling her parents.
ILLINGWORTH: `Your Grace, I have more to say, but I bow to your ruling.
Archer called "plain people"; an honourable but obscure majority of respectable families who (as in the case of the Spicers or the Leffertses or the Jacksons) had been raised above their level by marriage with one of the ruling clans.
Hence he comes to say that ruling and being ruled over by turns is an essential feature of constitutional government, which he admits as an alternative to aristocracy.
But, at that time," said the Wizard, thoughtfully, "there were two Good Witches and two Wicked Witches ruling in the land.
Now, in the Solomons, where whites are few and blacks are many, and where the whites do the ruling, such an offer to fight is the deadliest insult.
And the fear of this, as I conceive, induces the good to take office, not because they would, but because they cannot help--not under the idea that they are going to have any benefit or enjoyment themselves, but as a necessity, and because they are not able to commit the task of ruling to any one who is better than themselves, or indeed as good.
In its brief, TEI stated that the issue of the deference to be accorded an agency's interpretative ruling "requires a careful balance and the answer properly depends on the extent of public involvement in the development of the agency rule.
A letter ruling is a written statement issued by the IRS national office to a taxpayer or the taxpayer's authorized representative interpreting and applying the tax laws to a specific set of facts.