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. 2012.

Look at other dictionaries:

  • 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 - 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

  • 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 …   Black's law dictionary

  • private — Affecting or belonging to private individuals, as distinct from the public generally. Not official; not clothed with office. People v. Powell, 280 Mich. 699, 274 N.W. 372, 373. As to private act private agent private bill private boundary private …   Black's 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

  • Private Eye — For other uses, see Private eye (disambiguation). Private Eye Cover of Private Eye from July 2011 Type …   Wikipedia

  • 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

  • National Security Letter — An NSL issued to the Internet Archive demanding information about a user …   Wikipedia

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