Tag: RU
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Ruling
About Ruling: Decisions or opinions of the tax authorities in respect of actual fact situations which come before it as part of an assessment procedure or in response to taxpayer questions. 1. an advance ruling from the U.S. Internal Revenue Service. 2. a court decision….
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Rule of 78s
Rule of 78s means:a method of calculating the interest deduction for a short-term installment loan. It uses a formula for allocating interest in a manner similar to the sum-of-the- years'-digits depreciation. The U.S. Internal Revenue Service no longer permits the use of the Rule of 78s for tax …