MLchartDataset catalogue

Private letter ruling

Term · Insurance and risk management · MLC-T-INS-002674

A written determination from the Internal Revenue Service (IRS) that interprets and applies tax regulations to a taxpayer's specific, represented set of facts. A taxpayer requests a ruling before a transaction is completed to understand its tax consequences. This ruling is binding on the IRS with respect to the requesting taxpayer but cannot be used as precedent by other taxpayers.

Table 1. Record
IdentifierMLC-T-INS-002674
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-002674",
  "term": "Private letter ruling",
  "field": "Insurance and risk management",
  "definition": "A written determination from the Internal Revenue Service (IRS) that interprets and applies tax regulations to a taxpayer's specific, represented set of facts. A taxpayer requests a ruling before a transaction is completed to understand its tax consequences. This ruling is binding on the IRS with respect to the requesting taxpayer but cannot be used as precedent by other taxpayers.",
  "url": "https://mlchart.com/terminology/insurance/private-letter-ruling/"
}

Record 2,694 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.