ruling

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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 periodicals archive ?
However, the permissible reasons for self-certification are much narrower in number and scope than the reasons for which the IRS has granted waivers in prior letter rulings.
This is particularly true with respect to an issue that has not been addressed in case law or other binding authority and there are numerous private letter rulings with similar facts and similar results.
relating to matters on which the Service will not issue letter rulings or determination letters" (Revenue Procedure 2010-1).
Thus, in appropriate cases, tax liability insurance can provide tax certainty when a private letter ruling is not available.
In July 2002, in Letter Ruling 200228001, the IRS addressed the concept of credit card customers electing to donate available credit card incentive rebates to charity and determined that the taxpayer may deduct these amounts as long as the cardholder makes an affirmative election to direct the rebate amounts to a qualified charity.
98-17 provides the taxpayer with definitions so that the nature of the letter ruling requests under this procedure will be appropriate.
Letter rulings 200406051 and 200405013 (account administrator error or failure to notify).
Recent private letter rulings confirm that what is old is new and that partial liquidations are alive and well.
76) IRS Letter Rulings 200622035 (6/2/06) and 200618011 (5/5/06).
The regulation says private letter rulings and GCMs are not authoritative.
8, for the IRS's general procedures for the issuance of letter rulings and determination letters; and Rev.