A published decision by the IRS, printed in the Internal Revenue Bulletin, dictating how the federal tax code applies to a particular situation. Unlike private rulings, taxpayers may rely upon revenue rulings to calculate the tax consequences for them in similar situations. private ruling.An IRS determination of tax consequences of a certain transaction issued to and at the request of a private taxpayer only, and may not be relied upon by taxpayers at large. revenue procedure. An official IRS...