revenue ruling - Legal Definition
A published decision by the IRS, printed in the Internal Revenue Bulletin, dictating how the federal tax code applies to a particular situation. Unlike private rulings, taxpayers may rely upon revenue rulings to calculate the tax consequences for them in similar situations.private ruling
An IRS determination of tax consequences of a certain transaction issued to and at the request of a private taxpayer only, and may not be relied upon by taxpayers at large.revenue procedure
An official IRS statement spelling out the administrative practices used by the IRS. For example, methods for obtaining a private ruling are often spelled out. Abbreviated rev. proc.