If the IRS revokes or modiﬁes a published ruling, open tax years can be retroactively aﬀected for all taxpayers.

Name: If the IRS revokes or modiﬁes a published ruling, open tax years can be retroactively aﬀected for all taxpayers.
Brand: Quizplus
Rating: 4.7 (40 reviews)

Question

Quizplus · Accepted Answer

The IRS does have the power to retroactively revoke rulings for open years (see Code Sec
 7805(b)). Letter rulings, which directly aﬀect only the taxpayers who requested them, are rarely revoked retroactively.

If the IRS Revokes or Modiﬁes a Published Ruling, Open