Question

_______ rulings are less authoritative and more specific than revenue rulings and regulations.

A) Advisory
B) Private letter
C) Revenue
D) Precedent

Answer 1

Private letter rulings are less authoritative and more specific than revenue rulings and regulations.

Step-by-step explanation:

Private letter rulings are less authoritative and more specific than revenue rulings and regulations. Private letter rulings are written responses from the Internal Revenue Service (IRS) to taxpayer inquiries regarding the interpretation and application of tax laws. These rulings are specific to the individual taxpayer or organization that requested them and are not binding on other taxpayers. In contrast, revenue rulings and regulations are more general and apply to all taxpayers.