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Simple English definitions for legal terms

REV. RUL.

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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.

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CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
BulbasaurNoLikeCardio
7:51
@texaslawhopefully: best prices and only fast food that doesn't make me sick
matt gaetz ethics report released
paid for sex with a junior in high school
guarantee people still defend him
BulbasaurNoLikeCardio
9:51
I only read headlines and skimmed a random article of it since I am the only one at work this week. Seems like he is Republican Hunter Biden but not at the paying rent with poop paintings stage
ImpartialLion
9:55
Sent in my transcript at 6 am today and it’s processing. Think it will be processed before lsac closes tmrw?
BulbasaurNoLikeCardio
9:58
I would say it is a toss up, for how much LSAC charges us for everything they are extremely efficient in processing and sending stuff out BUT with a 30% uptake in applicants and the holidays it may be significantly slower unless it is ran through and processed by a computer program. Even if it takes them longer to process it, not like there is anyone at a school to request and review it after LSAC does their thing
Do we know if any of the t14 open at all this week
just called Fordham. they said there will be decisions going out today
so congratulations on pre xmas waves
BulbasaurNoLikeCardio
10:27
Hope schools are chill and just send As leaving the Rs for next month lol
soap
10:49
Fingers crossed for good luck today
BulbasaurNoLikeCardio
10:56
@soap: really hoping to get that UTK call today
11:08
what if instead of a room of one’s own virgina Woolf wrote a cubicle of one’s own
UGA ED deferrals are coming out rn
Only 14 days left until HLS sends out their first wave of decisions. I'm thinking about re-using my advent calendar to help me count down
alcohol advent calendar for decisions sounds incredible
@Unrepentant-Caucasian: ur bio is crazy
11:41
@chickenburgahfart: cauc is the zezemzer with a plan
@chickenburgahfart: Thanks, I guess? lol
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