Revenue Rulings

Revenue Rulings are official statements issued by the Internal Revenue Service (IRS) that provide guidance on tax laws and how they apply to specific situations. They clarify how the IRS interprets tax regulations, helping taxpayers, businesses, and tax professionals understand their obligations and rights regarding taxes. While Revenue Rulings are not legally binding like laws, they can influence how tax laws are enforced and are considered authoritative unless challenged. Essentially, they serve as a reference point for making informed decisions about tax-related matters.