Understanding IRS Guidance
- A Brief Primer

For anyone not familiar for the inner workings of tax administration, the array of IRS guidance may seem, well, a little puzzling at first glance. To take a little of the mystery away, here's a brief look at seven of the most common forms of guidance.

In its role in administering the tax laws enacted by the Congress, the IRS must take the specifics of these laws and translate them into detailed regulations, rules and procedures. The Office of Chief Counsel fills this crucial role by producing several different kinds of documents and publications that provide guidance to taxpayers, firms and charitable groups.

The Seven Most Common Forms of Guidance:

• Regulation
• Revenue Ruling
• Revenue Procedure
• Private Letter Ruling
• Technical Advice Memorandum
• Notice
• Announcement

To learn the definitions of these terms, click here:

[TaxMama note: Every once in a while I find a real gem like this on the IRS site. Hang on to this link for future reference....or just come back here.]