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
an official interpretation by the Service that has been published in the Internal Revenue Bulletin
a pronouncement of the Internal Revenue Service concerning its interpretation of the application of the Internal Revenue Code to a specific taxpayer-submitted fact situation
a statement by the IRS applying the law to a particular set of facts
A declaration of practice by the Internal Revenue Service based on a definite set of facts.
Issued by the IRS, these rulings express the IRS's views as to the tax results that apply to a specific problem.
Revenue Rulings are administrative rulings by the Internal Revenue Service (IRS) that apply the law to particular factual situations. If the IRS determines that a ruling is of general interest, it publishes it in the Internal Revenue Bulletin as a Revenue Ruling. Revenue Rulings can be used to avoid certain IRS penalties.