Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

REV. RUL.

Read a random definition: borrowed employee

A quick definition of REV. RUL.:

Term: REV. RUL.

Definition: REV. RUL. is an abbreviation for REVENUE RULING. It is a document issued by the Internal Revenue Service (IRS) that provides guidance on how to interpret and apply tax laws. It helps taxpayers understand how the IRS will treat certain transactions or situations for tax purposes. Think of it like a rulebook for taxes that helps people follow the rules and avoid penalties.

A more thorough explanation:

Term: REV. RUL.
Definition: Rev. Rul. is an abbreviation for Revenue Ruling. A Revenue Ruling is an official interpretation by the Internal Revenue Service (IRS) of the tax laws. It provides guidance on how to apply the tax laws to specific situations. Revenue Rulings are published in the Internal Revenue Bulletin and are binding on the IRS and taxpayers.
Example: An example of a Revenue Ruling is Rev. Rul. 2019-24, which provides guidance on the tax treatment of cryptocurrency hard forks. The ruling explains that if a taxpayer receives new cryptocurrency as a result of a hard fork, the taxpayer will not have taxable income until they sell or exchange the new cryptocurrency. This ruling helps taxpayers understand how to report their cryptocurrency transactions on their tax returns.
Explanation: The example illustrates how a Revenue Ruling provides guidance on how to apply the tax laws to a specific situation. In this case, the ruling explains how to report cryptocurrency transactions on a tax return. The ruling is binding on the IRS and taxpayers, so taxpayers can rely on it when preparing their tax returns.

REV. PROC. | Rev. Stat.

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
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.
LSD+ is ad-free, with DMs, discounts, case briefs & more.