Definitions for "revenue ruling"
An IRS tax decision resulting from an interpretation of an unclear regulation.
The IRS's published opinion that indicates how they might rule on future situations with similar circumstances. Although IRS opinion is not law, the revenue ruling has the force of law unless or until the federal tax court (or a newer revenue ruling) replaces it. Revenue rulings can be challenged by a taxpayer.
an official interpretation by the IRS of the Internal Revenue Code, related statutes, tax treaties and regulations