ruling

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Related to Letter of Determination: Private letter ruling

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 ?
The simplest way to use the benefits of a VEBA is to join an existing, multipleemployer VEBA that already has an IRS letter of determination.
The IRS issued an internal policy statement in January 1997 called the administrative policy regarding self-corrections (APRSC), which permits plan operating mistakes -- discovered and corrected within a year or so -- to avoid the sanctions discussed above as long as the plan has a letter of determination.
The simplest way to use the benefits of a VEBA is to join an existing, multiple-employer VEBA that already has an IRS letter of determination.
NASDAQ: GCFB) today announced that it has received a letter of determination from NASDAQ confirming that the Company has regained compliance with the applicable minimum shareholders' equity rule and is in compliance with all other applicable requirements for listing on The NASDAQ Capital Market.