Revenue Procedures

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The IRS announced that it will not issue advance rulings concerning whether creating or using income exception charitable remainder unitrusts to control the timing of the trust's receipt of income for the benefit of its income recipients results in the trust's failure...
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Define: Revenue Procedures

A Revenue Procedure (Rev. Proc.) provides drafting guidance, return filing or other instructions concerning an IRS position. Revenue procedures are considered tax precedent. This means that provided the facts match those in the procedure, individual taxpayers can apply their conclusions to their own transactions and the IRS is bound by them.

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