- Revenue Ruling
Revenue Ruling n: an official interpretation of a tax law by the Internal Revenue Service that is published to provide guidance esp. to taxpayers and IRS officials
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- revenue ruling
n.An official interpretation of some point of tax law issued by the Internal Revenue Service.
The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008.
- revenue ruling
A published opinion of the Internal Revenue Service stating what it would rule on future tax questions based on the same circumstances. These rulings are of general use to taxpayers, tax preparers, accountants, and attorneys in anticipating tax treatment by the IRS. They have the force of law until otherwise determined by the federal tax court or a new revenue ruling.Category: Business, LLCs & Corporations → Business Accounting, Bookkeeping & FinancesCategory: Business Cash Flow Problems & BankruptcyCategory: Business, LLCs & Corporations → Business Tax & DeductionsCategory: Personal Finance & Retirement → Taxes → Tax Audits
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
- revenue ruling
n. A published decision by the IRS, printed in the Internal Revenue Bulletin, dictating how the federal tax code applies to a particular situation. Unlike private rulings, taxpayers may rely upon revenue rulings to calculate the tax consequences for them in similar situations.@ private rulingAn IRS determination of tax consequences of a certain transaction issued to and at the request of a private taxpayer only, and may not be relied upon by taxpayers at large.@ revenue procedureAn official IRS statement spelling out the administrative practices used by the IRS. For example, methods for obtaining a private ruling are often spelled out. Abbreviated rev. proc..=>> revenue ruling.@
Webster's New World Law Dictionary. Susan Ellis Wild. 2000.
- revenue ruling
n.a published opinion of the Internal Revenue Service stating what it would rule on future tax questions based on the same circumstances. These rulings are of general use to taxpayers, tax preparers, accountants and attorneys in anticipating tax treatment by the IRS. They have the force of law until otherwise determined by the federal tax court or a new revenue ruling.See also: income tax
Law dictionary. EdwART. 2013.
Look at other dictionaries:
Revenue Ruling — Revenue Rulings are public administrative rulings by the Internal Revenue Service (IRS) that apply the law to particular factual situations. A revenue ruling can be relied upon by all taxpayers. A taxpayer may, for a fee, seek advice from the IRS … Wikipedia
Revenue Ruling — A Revenue Ruling (abbreviated Rev. Rul. ) is issued by the National Office of the I.R.S. to express an official interpretation of the tax law as applied to specific transactions. Unlike a Regulation, it is more limited in application. A Revenue… … Black's law dictionary
Revenue Ruling — A decree issued by the IRS that essentially has the force of law. A revenue ruling outlines the IRS s interpretation of the tax laws and is binding on all IRS employees. Revenue rulings are published in the Cumulative Bulletin and are issued only … Investment dictionary
ruling — rul·ing n: an official or authoritative determination, decree, statement, or interpretation (as by a judge on a question of law) followed a previous ruling on the same question see also revenue ruling compare decision, disposition … Law dictionary
ruling — A judicial or administrative interpretation of a provision of a statute, order, regulation, or ordinance; e.g. Revenue Rulings. May also refer to judicial determination of admissibility of evidence, allowance of motion, etc. See also decree order … Black's law dictionary
Internal Revenue Service — Infobox Government agency agency name = Internal Revenue Service nativename = IRS abbreviation = IRS logo width = 160px logo caption = seal width = 140px seal caption = formed = July 9, 1953 preceding1 = Bureau of Internal Revenue jurisdiction =… … Wikipedia
Private letter ruling — Private letter rulings are written decisions by the Internal Revenue Service in response to taxpayer requests for guidance. A private letter ruling binds only the IRS and the requesting taxpayer. Thus, a private ruling may not be cited or relied… … Wikipedia
Internal Revenue Code section 1031 — Under Section 1031 of the Internal Revenue Code (usc|26|1031), the exchange of certain types of property may defer the recognition of capital gains or losses due upon sale, and hence defer any capital gains taxes otherwise due.ummaryTo qualify… … Wikipedia
Internal Revenue Code section 355 — Section 355 of the Internal Revenue Code (IRC § 355) allows a corporation to make a tax free distribution to its shareholders of stock and securities in one or more controlled subsidiaries. If a set of statutory and judicial requirements are met … Wikipedia
letter ruling — n: a ruling (as of a court or administrative agency) that is made in a letter (as an opinion or determination letter); also: determination letter at letter 1 Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary