CHAPTER THREE

TREASURY INTERPRETATIONS

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

TYPES OF TREASURY INTERPRETATIONS

Regulations

Revenue Rulings

Revenue Procedures

Letter Rulings

Other

Treasury Regulations and Their Authority

Final

Proposed

Temporary

How to Access Regulations

Treasury Decisions (Federal Register)

Internal Revenue Bulletin

Cumulative Bulletin

Organization and Citation of Regulations

Organization

•by Code Section

Citation

•Treas. Regs. 1.263-xxxxx

Formats Available

Print/Paper CD-ROM Modem Web

Confirming the Reliability of a Regulation

Danger of being obsolete

Check for cautions

Revenue Rulings

Code’s application to specific set of facts

Authority limited by its facts

Discovering Relevant Revenue Rulings

Through reference service

IRS Bulletin Index-Digest System

Accessing Revenue Rulings

Internal Revenue Bulletin

Cumulative Bulletin

Print or electronic

Discovering Relevant Revenue Rulings

Through reference service

IRS Bulletin Index-Digest System

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

Ensuring the Reliability of a Revenue Ruling

Citating

Revenue Procedures

Procedural guidelines

Authoritative if current

Discovering Relevant Revenue Procedures

Through reference service

IRS Bulletin Index-Digest System

Accessing Revenue Procedures

Internal Revenue Bulletin

Cumulative Bulletin

Print or electronic

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

Ensuring the Reliability of a Revenue Procedure

Citating

Letter Rulings/Technical Advice Memoranda

Similar to Revenue Rulings

Generated through request or internal confusion

Limited authority

Discovering Relevant Letter Rulings

Cannot depend on reference services

Searching using electronic database

Citing a Letter Ruling

9940300

•99 year

•40 week

•300 number in that week

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