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LSDefine

Simple English definitions for legal terms

letter ruling

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A quick definition of letter ruling:

A letter ruling is a written statement from the IRS that explains how a specific transaction will affect a taxpayer's taxes. It is like getting advice from the IRS on how to handle a particular situation. This type of ruling is also called a private letter ruling.

A more thorough explanation:

A letter ruling is a written statement issued by the Internal Revenue Service (IRS) to a taxpayer who has made an inquiry about a specific transaction. The letter ruling explains the tax implications of the transaction and provides guidance on how to proceed.

For example, if a taxpayer is considering a complex financial transaction, they may request a letter ruling from the IRS to ensure that they are complying with tax laws and regulations. The IRS will review the details of the transaction and issue a letter ruling that outlines the tax consequences of the transaction.

Another example of a letter ruling might be a request for clarification on how a particular tax law applies to a specific situation. The IRS will review the request and provide a written response that explains how the law applies to the situation.

Letter rulings are important because they provide taxpayers with guidance on how to comply with tax laws and regulations. They also provide a level of certainty and predictability, which can be helpful when making important financial decisions.

letter rogatory | letters ad colligendum bona defuncti

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21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
soapy
8:48
UMN under review! As predicted, decisions are gonna come out early December
Minus those random R decisions from UMN yesterday though right? I wonder what happened there. I don’t think I’ve seen a school start the season out with anything but As on here
almost all of my apps have been UR for 6 weeks at this point I feel exhausted waiting for them to finish
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