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LSDefine

Simple English definitions for legal terms

REV. PROC.

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A quick definition of REV. PROC.:

Term: REV. PROC.

Definition: REV. PROC. is an abbreviation for REVENUE PROCEDURE.

REVENUE PROCEDURE is a set of guidelines issued by the Internal Revenue Service (IRS) that provides instructions and procedures for taxpayers to follow when complying with tax laws. It outlines the steps taxpayers should take to meet their tax obligations and avoid penalties. These procedures are designed to ensure that taxpayers are treated fairly and consistently by the IRS.

A more thorough explanation:

Definition: Rev. Proc. is an abbreviation for Revenue Procedure. A Revenue Procedure is an official document published by the Internal Revenue Service (IRS) that provides guidance on how to comply with tax laws and regulations. It is a type of administrative ruling that is less formal than a Treasury Regulation or a Revenue Ruling.

Example: One example of a Revenue Procedure is Rev. Proc. 2019-44, which provides guidance on how to claim a deduction for qualified business income under section 199A of the Internal Revenue Code. This Revenue Procedure explains how to calculate the deduction, how to determine whether a trade or business qualifies for the deduction, and how to report the deduction on a tax return.

Explanation: This example illustrates how a Revenue Procedure can provide detailed instructions on how to comply with a specific tax law or regulation. In this case, Rev. Proc. 2019-44 explains how to claim a deduction for qualified business income, which is a complex provision of the tax code. By following the guidance in the Revenue Procedure, taxpayers can ensure that they are claiming the deduction correctly and avoiding potential penalties or audits.

revolving performance bond | REV. RUL.

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shaquilleoatmeal
15:58
@babycat: you gonna be on later tonight? i gotta get home, shower, and then I can hop back on and give you the break down lmao
shaquilleoatmeal
15:58
i dont know how much i trust salmon from quick take out spots so i've never tried it there. Harvest bowl is OG and always good for when you need a quick decision
soyalmondoatmilk
15:59
that's so fair. i love their roasted sweet potatoes and spicy cashew dressing--highly recommend
babycat
16:00
@shaquilleoatmeal: I’ll stop by just for you. I gotta grind out some of my last essays tn.
shaquilleoatmeal
16:02
@soyalmondoatmilk: im weak af, can't handle that spicy cashew lmao
shaquilleoatmeal
16:03
@babycat: 😘 see you in a bit, grind out those essays before you hop back on
shaquilleoatmeal
16:04
appreciate the non wink since you didn't appreciate it them then lol
babycat
16:06
I'll do it for you ;)
16:06
Tough to justify attending a law school where the admissions office does epic resistance political commentary at the info session
BulbasaurNoLikeCardio
16:07
making me feel jealous here wow, I am about to go taste test a bunch of deserts for our baby shower this weekend.
BulbasaurNoLikeCardio
16:07
@milktoast: what school got political at an info session?
shaquilleoatmeal
16:11
nothin to be jealous about, i've been trying to slide into babycats dms but shes got a long line I guess I gotta wait in to see if I can get in lmao
babycat
16:11
omg if you get into ASU they give you travel expense reimbursement to go there for a visit. does anyone know which other schools do this? I'd love to get a comped vacation
shaquilleoatmeal
16:12
think BU gives you $300 or somethin
ClassyPleasantHeron
16:12
Where is ASU getting this kind of $$$ from? They waive CAS fees too.
babycat
16:13
@shaquilleoatmeal: yeah but then you have to go to Boston :(
shaquilleoatmeal
16:14
uva too
shaquilleoatmeal
16:14
whats wrong w boston ;(
GOT PROMOTED YAY how do i tell law schools abt this?
like do i type up and separate doc and send as an attachment? how much do i write?
shaquilleoatmeal
16:15
@jackfrost11770: LFGGGG
TYYYYYY
shaquilleoatmeal
16:16
do any of your schools have updated sections in the portal? If so, i'd upload there, if not email. Small paragraph should do it id think
1a2b3c4d26z
16:16
Who wanna play some operation metro later on
1a2b3c4d26z
16:16
Congrats jack!
thank you!!
babycat
16:16
@jackfrost11770: personally I would submit an updated resume reflecting the new position instead of a paragraph but idk what SOP is
getting a bacon egg and cheese in celebration
1a2b3c4d26z
16:18
lfg baby you earned that
babycat
16:20
also congrats!! big win
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