Private Letter Rulings Are Authoritative Only for the Specific Taxpayer

question 37

True/False

Private letter rulings are authoritative only for the specific taxpayer to whom they are issued and cannot be relied on as authority by any other taxpayer.

---

Definitions:

Sales Meetings

Gatherings or conferences held with the goal of discussing sales performance, strategies, and objectives.

Disruptive Innovation

An innovation that significantly alters the way that businesses operate, creating new markets and displacing established market leading firms and products.

Cable-Operated Excavators

Heavy machinery used for digging and moving large quantities of materials, which are controlled by cables for precision tasks.

Digital Cameras

Electronic devices capable of capturing and storing photographs digitally, without the need for film, by converting light into electrical signals.