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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PLR 1208040: IRS waives the 60-day IRA rollover deadline after a financial advisor's deposit error
An 84-year-old taxpayer received a distribution from an IRA and intended to roll the amount into another IRA. A financial advisor's office mistakenly deposited the amount into a non-IRA trust…
PLR 1208039: Beneficiaries may establish separate inherited IRAs after an estate's IRA interest passes to them
The IRS addressed an IRA owned by a decedent whose estate was the named beneficiary and whose interest passed to a trust for the decedent's four children. The children proposed to transfer their…
PLR 1208038: Endowment fund units do not create UBTI and are capital assets
The IRS considered a charitable organization that served as trustee and charitable remainder beneficiary of a charitable remainder unitrust. The organization proposed to invest the trust's assets in…
PLR 1208037: IRS approves private foundation's clinical research grant procedures
The IRS approved a private foundation's proposed program to give grants to clinicians and research scientists studying a redacted disease and building a clinical information and biosample…
PLR 1208036: IRS approves tax treatment for four bankruptcy liquidation trusts
A corporation in Chapter 11 bankruptcy proposed a liquidation plan that would create four trusts to resolve different groups of claims and distribute remaining assets. The IRS ruled that the…
PLR 1208035: IRS allows an investment credit for a wind farm storage device
A wind farm planned to install a battery storage device to manage electricity deliveries and provide grid regulation services. The taxpayer asked whether the device would be qualified property at a…
PLR 1208034: IRS approves deferred-gain treatment in a corporate merger and recapitalization
A multinational corporate group had deferred gain from an earlier transfer of a subsidiary's stock within a consolidated group. The group planned a merger, a name change, a surrender of an…
PLR 1208033: IRS grants extra time to make a LIFO inventory election
A parent corporation failed to attach Form 970 when a newly acquired subsidiary first began using the LIFO inventory method. The group later discovered the omission while reviewing its financial…
PLR 1208032: IRS grants extra time to elect an extended net operating loss carryback
A consolidated corporate group incurred a net operating loss and missed the deadline to elect an extended carryback period. The parent requested relief after relying on a tax professional who failed…
PLR 1208031: IRS approves changes to an exempt generation-skipping trust
The trustee of an irrevocable trust asked to move the trust's situs to another state and make administrative changes to its governing instrument. The trust was represented to have a zero…
CCA 1208030: IRS advises that litigation damages are fully taxable gain
Chief Counsel advised that damages received after a contract dispute were fully taxable as gain rather than a return of capital. The taxpayer had transferred an equity interest in exchange for debt…
CCA 1208029: IRS advises that gas leasehold rights are not domestic production receipts
Chief Counsel advised that gross receipts from selling oil and gas leasehold rights were not domestic production gross receipts for purposes of the former IRC § 199 deduction. The taxpayer had…
CCA 1208028: IRS advises on an estate's foreign trust filing penalties
Chief Counsel advised that an estate generally assumes a decedent's liability for initial penalties tied to missing Forms 3520 and 3520-A for a foreign trust. The estate also remains responsible for…
CCA 1208027: Mitigation provisions do not allow a refund of closed-year AMT
Chief Counsel advised that the mitigation provisions do not allow a taxpayer to recover AMT paid for 2007 when an increased net operating loss from 2006 must be carried forward and the 2007 refund…
CCA 1208026: Trust gifts are complete, but illusory withdrawal rights do not qualify for annual exclusions
Chief Counsel advised that donors made completed gifts of beneficial term interests when they transferred property to an irrevocable trust, even though they retained testamentary limited powers over…
PLR 1208025: Corporation is not a personal holding company under constructive ownership rules
The IRS ruled that a publicly traded corporation in a consolidated group was not a personal holding company for five tax years. Applying the constructive ownership rules, the IRS determined that the…
PLR 1208024: IRS grants late S corporation election relief for reasonable cause
The IRS ruled that a corporation could have its late S corporation election treated as timely because it established reasonable cause for missing the filing deadline. The relief applied only if the…
PLR 1208023: IRS grants relief for an inadvertent S corporation termination
The IRS ruled that an S corporation election terminated when shares were transferred to a trust whose beneficiary had not timely filed a qualified subchapter S trust election. The termination was…
PLR 1208022: IRS grants extra time for a qualified subchapter S subsidiary election
The IRS granted a corporation 120 days to file Form 8869 and elect to treat its wholly owned subsidiary as a qualified subchapter S subsidiary. The parent intended the election to be effective when…
PLR 1208021: Interest-rate hedging income qualifies for publicly traded partnership income test
The IRS ruled that income from treasury locks, interest rate swaps, and forward-start interest rate swaps was qualifying income under the publicly traded partnership rules. The partnership used…
PLR 1208020: IRS grants late disregarded-entity classification election
The IRS granted a foreign single-owner entity 120 days to file Form 8832 and elect to be treated as a disregarded entity for federal tax purposes. The entity had intended the classification to apply…
PLR 1208019: IRS approves a Type F reorganization and related tax treatment
The IRS ruled that a proposed restructuring of an affiliated corporate group would qualify as a Type F reorganization under section 368(a)(1)(F). The plan separated one business function and related…
PLR 1208018: IRS grants relief for a late S corporation election
The IRS ruled that a company had reasonable cause for failing to file its S corporation election on time. The company asked to have the election treated as effective on its intended date under IRC §…
PLR 1208017: IRS approves a divisive reorganization separating three business lines
The IRS ruled that a corporation's plan to separate three business lines among the existing corporation and two controlled corporations would qualify as two Type D reorganizations followed by…
PLR 1208016: IRS grants relief for a late S corporation election
The IRS ruled that a company had reasonable cause for failing to file its S corporation election on time. The company asked to have the election treated as effective on its incorporation date under…
PLR 1208015: IRS grants relief for a late S corporation election
The IRS ruled that a company had reasonable cause for failing to file its S corporation election on time. The company asked to have the election treated as effective on its intended date under IRC §…
PLR 1208014: IRS approves a REIT subsidiary's hotel management structure
The IRS ruled that a taxable REIT subsidiary would not be treated as directly or indirectly operating or managing a lodging facility. The subsidiary held a minority interest in a partnership that…
PLR 1208013: IRS treats an inadvertent S corporation termination as continuing
The IRS ruled that a company's S corporation election terminated when shares were transferred to two trusts that were not eligible S corporation shareholders. The trusts were later reformed to…
PLR 1208012: IRS grants more time for four companies to elect REIT status
The IRS granted four companies an extension of time to elect REIT status under IRC § 856(c). The companies had been treated as qualified REIT subsidiaries on their parent’s returns even after…
PLR 1208011: IRS grants more time for five QSub elections
The IRS granted an S corporation an extension of time to elect to treat five wholly owned subsidiaries as qualified subchapter S subsidiaries. The taxpayer said its representative prepared and…
PLR 1208010: IRS approves a late change to entity classification
The IRS consented to a foreign eligible entity changing its federal tax classification from a disregarded entity to an association taxable as a corporation. The entity represented that a change in…
PLR 1208009: IRS approves a late change to entity classification
The IRS consented to a foreign eligible entity changing its federal tax classification from a disregarded entity to an association taxable as a corporation. The entity represented that a change in…
PLR 1208008: IRS confirms cooperative status after an organizational alignment
The IRS ruled that a cooperative serving hospitals would continue to operate on a cooperative basis after an alignment transaction with two related nonprofit organizations. The transaction would…
PLR 1208007: IRS treats fully secured property participation rights as REIT assets
The IRS ruled that a residential real estate participation transaction would qualify as a real estate asset for REIT purposes to the extent it was fully secured by real property. Under the…
PLR 1208006: IRS approves trust modifications without GST or gift tax consequences
The IRS ruled on proposed modifications and a change in situs for an irrevocable trust divided into three trusts for the settlor's children and their descendants. The IRS concluded that moving the…
PLR 1208005: IRS approves estate, gift, and GST tax treatment of disclaimers
The IRS ruled on disclaimers made by a surviving spouse and an adult child after a decedent's death. The estate could elect not to have estate tax apply and instead apply the basis rules of IRC §…
PLR 1208004: IRS approves trust modifications without GST, gift, estate, or income tax consequences
The IRS ruled on proposed changes to an irrevocable trust created before September 25, 1985. The changes would move the trust's administrative situs to another state, add distribution and investment…
PLR 1208003: IRS approves trust modifications without GST, gift, estate, or income tax consequences
The IRS ruled on proposed changes to an irrevocable trust created before September 25, 1985. The changes would move the trust's administrative situs to another state, add distribution and investment…
PLR 1208002: IRS approves section 382 treatment for a bankruptcy restructuring
The IRS ruled on a publicly held corporation's proposed bankruptcy restructuring. Creditors would exchange debt for new stock, rights, warrants, or cash, while the corporation's existing common…
PLR 1208001: IRS grants late-election relief for a consolidated group's net operating loss
The IRS granted a parent corporation additional time to file an election giving up the entire net operating loss carryback period for its consolidated group's loss. The election had not been filed…
IRS determination 1207014: conditional minimum funding waiver granted
The IRS granted a waiver of the minimum funding standard for an employer's pension plan for the plan year ending December 31, 2007. The waiver is conditional on filing accurate Schedule MB reports,…
PLR 1207013: IRS waives the 60-day IRA rollover requirement after a duplicate distribution
The IRS waived the 60-day rollover requirement for an elderly taxpayer who received a duplicate required minimum distribution from an IRA because of an error by the financial institution. The…
PLR 1207012: IRS approves a private foundation's scholarship grant procedures
The IRS approved a private foundation's proposed scholarship grant-making program for children who demonstrate merit and financial need, including recipients outside the foundation's country. The…
PLR 1207011: IRS approves a private operating foundation's education grant procedures
The IRS approved a private operating foundation's grant program for students pursuing additional education in a specified location. The program would cover school costs and could provide a family…
PLR 1207010: IRS approves a private foundation's dialogue grant program
The IRS approved a private foundation's program to award one annual grant to an individual who wants to develop an understanding of a specified movement and lead dialogues in the community.…
CCA 1207009: Chief Counsel discussed when an abandonment loss may be deductible
Chief Counsel advice discussed an abandonment deduction for equipment. The email stated that a prior technical advice memorandum allowed a deduction when the assets were held for salvage value…
CCA 1207008: Chief Counsel addressed partnership-level negligence penalties
Chief Counsel advised that a partnership generally does not have an underpayment of tax for purposes of the negligence penalty because the partnership itself pays no income tax. In a TEFRA…
CCA 1207007: Chief Counsel explained Form 2848 use for FBAR matters
Chief Counsel advised that a taxpayer may use Form 2848 to authorize a representative in an FBAR matter if the form identifies both the FBAR matter and the related tax periods. The authorization can…
CCA 1207006: Chief Counsel advised that a Form 1099-MISC for a minor beneficiary should go to the minor
Chief Counsel advised that, under IRC § 6034A, a trust fiduciary must furnish a beneficiary with information about a distribution during the taxable year. Because the beneficiary in this situation…
CCA 1207005: Chief Counsel advised how to designate a new tax matters partner
Chief Counsel advised a partnership to designate a new tax matters partner, or TMP, on the IRS form used for that purpose. If the partnership did not make a new designation, the TMP would…
PLR 1207004: IRS granted relief for a late S corporation election
The IRS granted a corporation 120 days to file Form 2553 and have its S corporation election treated as timely for its first taxable year. The corporation had been eligible to elect S corporation…
PLR 1207003: IRS granted more time to apportion a consolidated section 382 limitation
The IRS granted a parent corporation and a subsidiary 45 days to file an election apportioning a consolidated IRC § 382 limitation to the subsidiary. The election had been required with a…
PLR 1207002: IRS ruled that an S corporation stock redemption was a distribution and did not terminate its election
The IRS ruled that an S corporation's proposed cash redemption of a shareholder's non-voting stock would be treated as a property distribution under IRC §§ 301 and 302, except as provided by § 1368.…
PLR 1207001: IRS approved proposed administrative changes to an irrevocable family trust
The IRS considered proposed changes to an irrevocable trust created before September 25, 1985, for the benefit of a child and the child's descendants. The changes would move the trust's…
PLR 1206026: IRS waived the 60-day IRA rollover requirement after a financial institution error
The IRS considered a taxpayer's request to waive the 60-day deadline for rolling a distribution from an IRA into another IRA. The taxpayer intended to complete the rollover, but a financial…
PLR 1206025: IRS waived the 60-day IRA rollover requirement after an adviser misrepresentation
The IRS considered a taxpayer's request to waive the 60-day deadline for rolling an IRA distribution into another IRA. The taxpayer deposited the distribution into a checking account after being…
IRS approval 1206024: Return of certain nondeductible defined-benefit-plan contributions
The IRS addressed a request involving a qualified defined-benefit pension plan and employer contributions that were treated as nondeductible under Revenue Procedure 90-49. It determined that…
PLR 1206023: IRS denied a 60-day IRA rollover waiver for insufficient documentation
The IRS considered an elderly taxpayer's request to waive the 60-day rollover deadline for distributions from two IRAs. The taxpayer said a financial institution employee incorrectly told him he had…
IRS approval 1206022: Return of defined-benefit-plan contributions
The IRS approved the return of up to $104,074 in employer contributions to a qualified defined-benefit pension plan. The contributions were made for the plan year beginning January 1, 2008, and…
IRS denial 1206021: Minimum funding standard waiver denied during plan termination
The IRS denied an employer's request to waive the minimum funding standard for a defined-benefit plan for the year ending February 28, 2009. The Pension Benefit Guaranty Corporation had informed the…
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.