letter ruling

A written statement which is issued to a taxpayer by Office of Assistant Commissioner of I.R.S. in which interpretations of tax laws are made and applied to a specific set of facts. Tax Analysts and Advocates v. Internal Revenue Service, D.C.D.C., 362 F.Supp. 1298, 1301.
Such is issued in response to request for ruling by a private party of tax implications of a particular transaction

Black's law dictionary. . 1990.

Look at other dictionaries:

  • 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

  • letter ruling — a written ruling sent by the U.S. Internal Revenue Service in response to a query concerning the application of the tax laws to a specific situation. * * * …   Universalium

  • letter ruling — a written ruling sent by the U.S. Internal Revenue Service in response to a query concerning the application of the tax laws to a specific situation …   Useful english dictionary

  • Private Letter Ruling - PLR — An interpretation of statute or administrative rules and their application to a particular set of facts or circumstances. The private letter ruling addresses unusual or complex questions pertaining to a particular taxpayer and his or her tax… …   Investment dictionary

  • 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

  • private letter ruling — n: a letter from the Internal Revenue Service to an individual taxpayer setting out the agency s interpretation of the tax rules relating to a specific situation or transaction proposed by the taxpayer Merriam Webster’s Dictionary of Law. Merriam …   Law dictionary

  • private letter ruling — A ruling by the IRS in response to a request for interpretation of a tax law. Bloomberg Financial Dictionary …   Financial and business terms

  • ruling letter — see letter 1 Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • letter — let·ter n 1: a direct written statement addressed to an individual or organization; broadly: an official communication see also counterletter determination letter: a letter from an administrative agency (as the Internal Revenue Service) usu. in… …   Law dictionary

  • 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

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