A revenue ruling is a ruling passed down by the Internal Revenue Service (IRS) in the U.S., which is used to interpret the tax code for the public.
A revenue ruling acts as the official statement from the IRS as to what the appropriate manner is to deal with any specific type of tax claim or deduction.
Revenue rulings are public, but can be taken from a private ruling and made to be a precedent. All tax filers must comply with revenue rulings in relation to all transactions on their tax form.