A Revenue Ruling Cannot Be Relied on as Authority by Any

question 6

True/False

A revenue ruling cannot be relied on as authority by any taxpayer other than the taxpayer for whom the ruling was issued.

---

Definitions:

Intellectance

The ability or aptitude to learn, understand, and engage in complex cognitive processes.

Honesty

The quality of being truthful, transparent, and sincere in one's dealings and communications.

Altruism

Altruism refers to the selfless concern for the well-being of others without expecting any reward or benefit in return.

Integrity

The quality of being honest and having strong moral principles, crucial for trustworthiness in social and professional settings.