Another installment sales planning opportunity was illustrated in Letter Ruling 200603017.
What does LET RUL stand for?
LET RUL stands for Letter Ruling (issued by US Internal Revenue Service)
This definition appears frequently and is found in the following Acronym Finder categories:
- Business, finance, etc.
- Light Emitting Triode (electronics)
- Light Equipment Transporter
- Line Equipment Transfer
- Linear Energy Transfer
- Live Entertainment Tax
- Logical Equipment Table
- Logical Exchange Termination (Cisco)
- Logistics Escape Trunk
- Logistics Escape Trunk (US Trident Submarine SSBN 726 Class)
- Low Energy Telescope (NASA)
- Liquid Effluent Treatment and Disposal Liability Act
- Laboratoire Esthetique Theorique et Applique
- Lancaster Employment and Training Agency (Pennsylvania)
- Law Enforcement Thermographers Association
- Law Enforcement Training Academy (various locations)
- Learning and Enrichment Travel Alliance (Canada)
- Louisiana Educational Television Authority (Baton Rouge, LA)
- Longview East Texas Amateur Radio Club
- Ladies European Tour Access Series (golf)
- Law Enforcement and Traffic Adjudication System (Philippines)
Samples in periodicals archive:
We have two sources of guidance for the application of Section 1031 to vacation homes--a letter ruling and a tax court case.
Letter ruling 200402029 (taxpayer's physical incapacity prevented compliance with rollover requirements).
A 2002 letter ruling suggests that an otherwise nontaxable partnership liquidation may be taxable when the partnership has an outstanding loan from the continuing owner.
In private letter ruling 9636001, the Internal Revenue Service ruled the sale of textbooks did not further the organization's exempt status; therefore, the publishing activities were subject to unrelated business income tax.
The Notice stated that, until the issuance of final regulations, taxpayers would be permitted to employ a closing-of-the-books allocation method provided they obtained a private letter ruling prescribing the terms and conditions for the use of such a method.
Summary of Each Ruling Letter Ruling (TAM) 9717002: In this ruling, the taxpayer was using two absorption ratios, but not any of the simplified methods.
MEANING, SOURCE AND EFFECT OF PRIVATE LETTER RULINGS A letter ruling is a written statement issued by the IRS national office to a taxpayer or the taxpayer's authorized representative interpreting and applying the tax laws to a specific set of facts.