chapter three treasury interpretations. expected learning outcomes l understand the following about...
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CHAPTER THREE
TREASURY INTERPRETATIONS
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EXPECTED LEARNING OUTCOMES
Understand the following about Treasury interpretations:• The different types • Their level of authority• How they are accessed• How to determine their validity• How they are cited
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TYPES OF TREASURY INTERPRETATIONS
Regulations
Revenue Rulings
Revenue Procedures
Letter Rulings
Other
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Treasury Regulations and Their Authority
Final
Proposed
Temporary
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How to Access Regulations
Treasury Decisions (Federal Register)
Internal Revenue Bulletin
Cumulative Bulletin
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Organization and Citation of Regulations
Organization
•by Code Section
Citation
•Treas. Regs. 1.263-xxxxx
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Formats Available
Print/Paper CD-ROM Modem Web
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Confirming the Reliability of a Regulation
Danger of being obsolete
Check for cautions
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Revenue Rulings
Code’s application to specific set of facts
Authority limited by its facts
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Discovering Relevant Revenue Rulings
Through reference service
IRS Bulletin Index-Digest System
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Accessing Revenue Rulings
Internal Revenue Bulletin
Cumulative Bulletin
Print or electronic
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Discovering Relevant Revenue Rulings
Through reference service
IRS Bulletin Index-Digest System
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Citing a Revenue Ruling
Rev. Rul. 83-14, 1983-1 CB 200
Rev. Rul. 99-89, IRB 1999-20, 30
Rev. Rul. 99-89, 1999-20 CB 30
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Ensuring the Reliability of a Revenue Ruling
Citating
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Revenue Procedures
Procedural guidelines
Authoritative if current
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Discovering Relevant Revenue Procedures
Through reference service
IRS Bulletin Index-Digest System
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Accessing Revenue Procedures
Internal Revenue Bulletin
Cumulative Bulletin
Print or electronic
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Citing a Revenue Procedure
Rev. Proc. 83-14, 1983-1 CB 200
Rev. Proc. 99-89, IRB 1999-20, 30
Rev. Proc. 99-89, 1999-20 CB 30
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Ensuring the Reliability of a Revenue Procedure
Citating
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Letter Rulings/Technical Advice Memoranda
Similar to Revenue Rulings
Generated through request or internal confusion
Limited authority
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Discovering Relevant Letter Rulings
Cannot depend on reference services
Searching using electronic database
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Citing a Letter Ruling
9940300
•99 year
•40 week
•300 number in that week
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Other Types of Treasury Interpretations
Determination letters
General Counsel Memos
IRS News Releases IRS Publications
Actions on Decisions Acquiescences/non Internal Revenue
Manual Forms and
Instructions