IRS Written Determinations
Free IRS private letter rulings, technical advice memoranda, and Chief Counsel advice with plain-English summaries and the official IRS release on every page.
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LLC received 60 days to make a late qualified opportunity fund election
An LLC formed to invest in qualified opportunity zone property failed to attach Form 8996 to its timely filed partnership return. Its accountant had misapplied the Form 8996 filing requirement, and…
LLC's late qualified opportunity fund certification was treated as timely
An LLC formed as a qualified opportunity fund missed the deadline for its partnership return and Form 8996 after its accounting firm overlooked the extension filing. Investors had already…
LLC's late qualified opportunity fund election was treated as timely
An LLC formed to operate as a qualified opportunity fund did not timely file Form 8996 because of intervening events outside its control. After discovering the omission, it filed the partnership…
Nonprofit insurer restructuring received tax-free reorganization rulings
A nonprofit health insurance organization completed a restructuring that placed a new nonprofit holding company above it and moved several subsidiaries and disregarded entities within the group. The…
Late qualified opportunity fund self-certification accepted
A partnership was formed to operate as a qualified opportunity fund, but its accountant did not know that Form 8996 had to be filed on time to make the required self-certification election. The…
QOF self-certification accepted after filing with the wrong return
A limited liability company was formed to operate as a qualified opportunity fund and had elected S corporation status. Because its lawyer did not tell the accounting firm about that election, the…
Late qualified opportunity fund self-certification accepted
A partnership was formed to operate as a qualified opportunity fund, but its manager believed no federal return was required for the first year because the entity had no business activity. After the…
Opportunity fund receives 60 days for late self-certification
A limited liability company taxed as a partnership was formed to operate as a qualified opportunity fund and invest in opportunity-zone property. It had no income or expenses in its first year and…
Estate may face the 40 percent gross valuation misstatement penalty for undervaluing an annuity
Chief Counsel considered an estate tax return that reported an annuity at a redacted value after the annuity apparently had been exchanged for bonds worth a much larger redacted amount. IRC §…
Partnership’s late Form 8996 was treated as a timely qualified opportunity fund election
A married couple formed a partnership to operate as a qualified opportunity fund but misunderstood counsel’s explanation of the entity’s tax-filing obligations. They believed the fund’s activity…
REIT received 45 more days to make its intended consent-dividend election
A real estate investment trust and its partnership shareholder had used consent dividends in prior years to support the REIT’s dividends-paid deduction. For the year at issue, the shareholder…
Partnership received 60 days to self-certify as an opportunity fund
A partnership formed to invest in qualified opportunity zones did not timely file its first Form 1065 or attach Form 8996 to self-certify as a qualified opportunity fund. Its manager believed an…
Qualified opportunity fund received relief for a late Form 8996
A limited partnership was formed to operate as a qualified opportunity fund and hired an adviser to file its first-year return and related elections. The return and Form 8996 were not filed on time…
LLC gets 60 more days to self-certify as a Qualified Opportunity Fund after its accountant missed the filing
An LLC (taxed as a partnership) was formed to invest in Qualified Opportunity Zone property, a program that lets investors defer and reduce tax on capital gains if they invest through a Qualified…
Opportunity-fund gets more time to self-certify after its accountant left the form off the return
A limited liability company was set up to be a Qualified Opportunity Fund (QOF), the kind of investment vehicle that lets people defer and reduce tax on capital gains they reinvest in economically…
9100 relief for a late Form 8996 self-certifying a Qualified Opportunity Fund
A taxpayer set up an entity to be a Qualified Opportunity Fund (QOF), the vehicle that lets investors defer and reduce tax on capital gains reinvested in designated low-income areas. To become a…
9100 relief for late Forms 8996 self-certifying a Qualified Opportunity Fund
An LLC taxed as a partnership was formed to operate as a Qualified Opportunity Fund (QOF), the vehicle that lets investors defer and reduce tax on capital gains reinvested in designated low-income…
The IRS has discretion, not a legal duty, to process amended returns
A field examiner asked what obligation the IRS has to process amended returns. Chief Counsel explained that the Internal Revenue Manual gives Service employees extensive procedures for handling…
9100 relief to file a late Form 8996 self-certifying as a Qualified Opportunity Fund
To claim Opportunity Zone tax benefits, an entity must "self-certify" as a Qualified Opportunity Fund (QOF) by attaching Form 8996 to a timely filed return. Here, an LLC taxed as a partnership was…
Dividing a marital QTIP trust and disclaiming half is tax-free income-wise and produces a controlled gift, with no surprise estate inclusion
A surviving spouse was the lifetime income beneficiary of a "QTIP" marital trust (property that qualified for the estate tax marital deduction when the first spouse died and that will normally be…
Dividing a marital QTIP trust and disclaiming half is tax-free income-wise and produces a controlled gift, with no surprise estate inclusion
A surviving spouse was the lifetime income beneficiary of a "QTIP" marital trust (property that qualified for the estate tax marital deduction when the first spouse died and that will normally be…
9100 relief to file a late Form 8996 self-certifying as a Qualified Opportunity Fund
An entity that wants Opportunity Zone tax benefits must "self-certify" as a Qualified Opportunity Fund (QOF) by attaching Form 8996 to a timely filed return. Here, an LLC taxed as a partnership was…
9100 relief to file a late Form 8996 self-certifying as a Qualified Opportunity Fund
An entity that wants Opportunity Zone tax benefits must "self-certify" as a Qualified Opportunity Fund (QOF) by attaching Form 8996 to a timely filed return each year. Here, an LLC taxed as an S…
9100 relief to file a late Form 8996 self-certifying as a Qualified Opportunity Fund
To get the tax benefits of investing in an Opportunity Zone, a fund must "self-certify" as a Qualified Opportunity Fund (QOF) by filing Form 8996 with its tax return for its first year. Here, an LLC…
9100 relief treating a late Form 8996 as timely to self-certify a partnership as a Qualified Opportunity Fund
This letter grants a late-filing extension for an Opportunity Zone election, on facts very similar to a companion ruling in the same release week. A Qualified Opportunity Fund (QOF) self-certifies…
9100 relief to file a late Form 8996 self-certifying a partnership as a Qualified Opportunity Fund
This letter grants a late-filing extension for an Opportunity Zone election. A Qualified Opportunity Fund (QOF) is an investment vehicle that lets investors defer and reduce capital-gains tax when…
R&D-services income that two U.S. companies earn from their foreign parent qualifies as FDDEI in full under section 250(b)(4)(B)
This ruling is about the deduction for foreign-derived intangible income (FDII) under Section 250, which rewards U.S. corporations for income earned by serving foreign customers. To get the…
Late relief granted to self-certify a partnership as a Qualified Opportunity Fund
A Qualified Opportunity Fund (QOF) is an investment vehicle that lets investors defer and reduce tax on capital gains if they reinvest in designated low-income "opportunity zones." To become a QOF,…
Consent granted to aggregate separate non-operating silver royalty interests as one property
A company that owns silver royalty interests, but does not mine or operate the properties itself, asked the IRS for permission to treat its scattered royalty interests in one region as a single…
Consent granted to aggregate separate non-operating mineral (royalty) interests as one property
A company that owns oil, gas, and mineral royalty interests, but does not drill or operate the wells itself, asked the IRS for permission to lump its scattered royalty interests in one region into a…
Interest on a prevailing-wage correction payment is compounded daily
This is a brief internal email answering a compliance question about the prevailing wage and apprenticeship (PWA) rules, which certain clean-energy tax credits require employers to meet. If a worker…
Late-filed Form 8996 treated as timely, self-certifying an LLC as a Qualified Opportunity Fund
An LLC taxed as a partnership was organized to be a Qualified Opportunity Fund (QOF), a structure that gives investors capital-gains tax benefits for investing in designated opportunity zones. To…
Late Form 8996 relief lets an LLC self-certify as a Qualified Opportunity Fund
An LLC was set up to be a Qualified Opportunity Fund (QOF), a vehicle that lets investors defer capital gains tax when they reinvest gains into designated low-income "opportunity zones." To become a…
Women's golf club denied section 501(c)(3) status
An organization of adult women golfers applied for recognition under section 501(c)(3). Its governing documents did not state a qualifying exempt purpose, and its activities consisted mainly of…
IRS revoked a 2009 real-property-interest ruling without retroactive effect
The IRS revoked Private Letter Ruling 200923001, issued to the same taxpayer in 2009. It stated that the earlier ruling and its related discussion had been reconsidered and no longer reflected the…
Qualified opportunity fund self-certification treated as timely
A partnership was formed to operate as a qualified opportunity fund and relied on tax professionals to prepare its first-year return and Form 8996. The tax preparer believed an accounting firm would…
IRS grants relief for a late qualified opportunity fund self-certification
A partnership intended from its formation to operate as a qualified opportunity fund (QOF), but it did not timely file its first Form 1065 or the Form 8996 needed to self-certify as a QOF. The…
IRS treats a late qualified opportunity fund self-certification as timely
A partnership and its tax-return preparer knew that the partnership intended to be a qualified opportunity fund (QOF) and that it needed to attach Form 8996 to its first Form 1065. The preparer…
IRS consents to a captive insurer's revocation of its Section 831(b) election
A licensed captive insurance company had elected under Section 831(b) to be taxed only on its taxable investment income. It asked the IRS for consent to revoke that election beginning with a later…
IRS grants relief after a partnership return omitted its QOF self-certification
A partnership was formed to operate as a qualified opportunity fund (QOF) and hired one accounting firm for its tax filings and another firm for opportunity-zone consulting and oversight. The…
Fund receives 60 days to make a late QOF self-certification
A partnership was formed to invest in qualified opportunity zone property and intended to operate as a qualified opportunity fund. Its accountant lacked QOF experience and, amid COVID-related…
Late Form 8996 treated as timely for opportunity fund self-certification
A limited liability company taxed as a partnership was formed to invest in qualified opportunity zone property and operate as a qualified opportunity fund. Its managing member asked an accounting…
Statutory change revoked earlier vehicle excise tax advice for later years
A taxpayer argued that a 2004 technical advice memorandum exempting certain vehicle sales from section 4051 excise tax continued to bind the IRS for sales in 2017 through 2019. Chief Counsel advised…
Prior insurance-company ruling revoked for roadside assistance contract
The IRS revoked a 1999 ruling that had treated a roadside assistance provider as an insurance company based on one vehicle manufacturer's contract. The contract refunded part of its per-vehicle fee…
Qualified opportunity fund receives 60 days to make late self-certification
A partnership limited liability company was formed and funded to invest in qualified opportunity zone property and serve as a qualified opportunity fund. Its accounting firm advised that a…
Late qualified opportunity fund self-certification accepted
A partnership was formed to invest in qualified opportunity zone property and intended to operate as a qualified opportunity fund. Its accounting firm did not file partnership returns for its first…
Late opportunity fund self-certification treated as timely
A limited liability company classified as a partnership was organized to be a qualified opportunity fund and invest in qualified opportunity zone property. It relied on another party to prepare its…
Opportunity fund received 60 days to file Form 8996
A two-member limited liability company was formed to operate as a qualified opportunity fund and invest in qualified opportunity zone property. Its return preparer mistakenly classified the…
IRS grants a 60-day extension to file a late Form 8996 self-certifying a Qualified Opportunity Fund
An LLC taxed as a partnership was formed to invest in qualified opportunity zone property and to operate as a Qualified Opportunity Fund (QOF), a vehicle that lets investors defer and reduce tax on…
Opportunity fund received relief for omitted Form 8996
A partnership's operating agreement stated that it was intended to be a qualified opportunity fund and invest only in qualified opportunity zone property. Its members believed the first-year…
Late opportunity fund self-certification election allowed
A partnership was formed to invest in qualified opportunity zone property and serve as a qualified opportunity fund. Its accounting firm timely filed Form 1065 but omitted Form 8996 because the firm…
QOF election relief granted after engagement-letter omission
A partnership was created to operate as a qualified opportunity fund, and its members discussed opportunity zone gain deferrals with their long-time accounting firm. A miscommunication caused the…
Overseas services to the U.S. government may qualify as FDDEI
Chief Counsel considered a domestic corporation that provides consulting services to Department of Defense employees located at an overseas military base. Section 250 focuses on where a service…
Filed Form 8996 treated as timely for first QOF year
A six-member partnership was formed to invest in qualified opportunity zone property. Its tax group incorrectly concluded that no first-year Form 1065 was required and did not know that the…
Late opportunity fund certification allowed
A partnership was formed to invest in qualified opportunity zone property and operate as a qualified opportunity fund. Its accounting firm timely filed the first partnership return but omitted Form…
Late opportunity fund certification allowed
A partnership was formed to invest in qualified opportunity zone property and operate as a qualified opportunity fund. Its accounting firm timely filed the first partnership return without Form…
Late opportunity fund self-certification allowed
A partnership was formed to qualify as a qualified opportunity fund, but its tax adviser mistakenly filed the partnership return without Form 8996. The adviser discovered the omission while…
Late opportunity fund self-certification allowed
A partnership was formed to qualify as a qualified opportunity fund, but its tax adviser mistakenly filed the partnership return without Form 8996. The adviser discovered the omission while…
Puerto Rico community property remains undivided until liquidation
Chief Counsel summarized Puerto Rico community-property law using an English translation of the Puerto Rico statutes. The default community regime begins at marriage unless the spouses choose…
State-law representative signs for disregarded entity partner
Chief Counsel advised that a disregarded entity owning a partnership interest is itself the partner. Because a reviewed-year partner signs Form 8979, the person authorized under state law to bind…
What these documents are
- Private letter rulings (PLRs): A taxpayer asked the IRS to rule on a planned transaction before doing it. The ruling shows exactly how the IRS applied the Code to those facts.
- Technical advice memoranda (TAMs): The IRS National Office answering a question raised during an audit or other proceeding.
- Chief Counsel advice (CCAs): IRS lawyers advising their own field staff on how to apply the law.
- Determination letters: Rulings on exempt-organization matters, such as whether an organization qualifies under § 501(c)(3) or a foundation's grant procedures pass § 4945.
- Not precedent, still useful: Under 26 U.S.C. § 6110(k)(3) none of these can be cited as precedent. They remain the best public window into how the IRS actually rules on facts like yours, and practitioners read them for exactly that.