IRS Updates Procedures for PLRs and Information Letters

The IRS has updated the procedures for letter rulings and information letters. The update is contained in Revenue Procedure (Rev. Proc.) 2023-1. 

More specifically, the IRS has updated the procedures for letter rulings and information letters issued by the Associate Chief Counsel (Corporate), Associate Chief Counsel (Employee Benefits, Exempt Organizations, and Employment Taxes), Associate Chief Counsel (Financial Institutions and Products), Associate Chief Counsel (Income Tax and Accounting), Associate Chief Counsel (International), Associate Chief Counsel (Passthroughs and Special Industries), and Associate Chief Counsel (Procedure and Administration).

Rev. Proc. 2023-1 explains: 

• how the IRS provides advice to taxpayers on issues under the jurisdiction of those offices;
• the forms of advice; and 
• the manner in which advice is requested by taxpayers; and 
• the ways in which the IRS provides advice.

Appendix B of Rev. Proc. 2023-1 provides a sample format for a letter ruling request. 

Rev. Proc. 2023-1 appears in the Internal Revenue Bulletin of Jan. 3, 2023.