Get Revenue Procedure 2004-18 - Rulings And Determination Letters.. This Procedure Provides Issuers Of

Letter rulings are less authoritative but more specific than revenue rulings and regulations. Letter rulings generally may not be used as precedent by taxpayers. However, they may be cited as authority to avoid the substantial understatement of tax penalty under IRC Sec.

Private Letter Ruling A PLR is issued to establish with certainty the federal tax consequences of a particular transaction before the transaction is consummated or before the taxpayer's return is filed.

Letter Rulings are similar to Revenue Rulings, but they are relied upon as precedent only by the taxpayer to whom the ruling is issued. The name and other identifying information concerning the taxpayer requesting the P.L.R. is redacted. Private Letter Rulings are not officially published in a reporter.

Revenue Procedures deal with the internal practice and procedures of the IRS in the administration of the tax laws. They are official statements of procedures relating to sections of the Internal Revenue Code, related statutes, tax treaties, and regulations.

Revenue Rulings A revenue ruling is a pronouncement on a specific factual situation that has been submitted by a taxpayer, published for the guidance of all taxpayers. It doesn't carry the force and effect of a regulation but can be cited as precedent by taxpayers with similar situations.

A revenue procedure is an official statement of a procedure published in the Bulletin that either affects the rights or duties of taxpayers or other members of the public under the Internal Revenue Code and related statutes, treaties, and regulations or, although not necessarily affecting the rights and duties of the ...

(6) A Revenue Ruling is an official interpretation by the Service which has been published in the Internal Revenue Bulletin. Revenue Rulings are issued only by the National Office and are published for the information and guidance of taxpayers, Internal Revenue Service officials, and others concerned.