An IRS private letter rulings (PLRs) is a statement by the IRS given to a taxpayer who submitted a request to the IRS for it’s position with respect to one or more federal tax issues set forth in the PLR. The PLR process is a way for a taxpayer to determine in advance of taking action if the proposed action will cause a problem with the IRS. PLRs annot be relied on by any person except the person who applied for and obtained the PLR. Although PLRs do not have any precedential value, they are instructive because they do indicate IRS thinking with respect to the issues addressed in the PLR.
Note: As we discuss IRS Private Letter Rulings we are not giving any tax or legal advice.
IRS Private Letter Rulings have little precedential value. The statements made by the IRS in Private Letter Rulings can be relied on only by the taxpayer(s) who requested the Private Letter Ruling. The IRS Private Letter Rulings listed below are for informational purposes and to inform you as to positions and statements made by the IRS with respect to IRA investments and transactions.