Letter Ruling Law & Legal Definition
An IRS private letter ruling is a request to the IRS to rule on a tax issue before a taxpayer takes certain action. The IRS private letter ruling is applicable to that tax situation and that taxpayer only. Most taxpayers will never need such an IRS private letter ruling, but if there is a large dollar amount of tax at stake and a tax issue that is unclear, you should consider requesting an IRS private letter ruling to reduce your risk.
The procedure for requesting a letter ruling varies depending upon whether the taxpayer is currently underexamination by the IRS. The procedure for requesting a private letter ruling is updated annually. It is always the first revenue procedure in the first Internal Revenue Bulletin of the year.
Legal Definitions
Search Definitions
Get a Term Defined
- Request a legal definition! Submit a term you need defined.
- » Request Legal Definition
Submit a Definition
- Submit a Definition Help us build our database. Free listings for attorneys.
- » Submit a Definition
Help Build USLegal
- Join our Team and help build USLegal. Many opportunities for participation so Join our Network.
Build USLegal
Read a Law Digest
- Need to read the law or find an answer to a legal question? Visit our Law Digest for the largest selection of law digests and answers available.
Go to Law Digest
Form Packages
- Select from our most popular legal form packages.
- » Bankruptcy
- » Contract for Deed
- » Divorce
- » Employment Packages
- » Home Sales
- » Incorporation
- » LLC Formation
- » Landlord Tenant
- » Mutual Wills
- » Name Change
- » Personal Planning
- » Partnerships
- » View All Packages
Legal Life
- Organize your legal life today! View our free online guide to creating a Life Documents File and related products.
- » Life Documents File
- » Personal Planning Package
- » Life Documents Packages
- » New Parents
- » Newlyweds
- » Baby Boomers
- » Military
- » Other
Form Drafting
- Can′t find the form you need, or need a form we offer revised for your situation? Submit your request and our attorneys will review the request and let you know if the form can be provided.
Submit a drafting request...
