Revenue Ruling Law and Legal Definition
A revenue ruling is a published opinion of the Internal Revenue Service stating how it would rule on future tax questions based on the same circumstances. It is an IRS tax decision resulting from an interpretation of an unclear regulation. These rulings are used for guidance to taxpayers, tax preparers, accountants and attorneys in anticipating tax treatment by the IRS. They have the force of law and may be relied upon until otherwise decided by the federal tax court or a new revenue ruling.
Legal Definition list
Related Legal Terms
- Accumulation plan [Internal Revenue]
- Actuarial Present Value [Internal Revenue]
- Airport Revenue [Aeronautics and Space]
- All Substantial Rights to a Patent [Internal Revenue]
- Alternate Payee [Internal Revenue]
- Approved Terminal or Refinery [Internal Revenue]
- Architectural and Transportation Barrier Removal Expenses [Internal Revenue]
- Brother-Sister Controlled Group [Internal Revenue Code]
- Commingled Fund [Internal Revenue]
- Conduit Borrower [Internal Revenue]
