New “No Rule” Areas
Every year the IRS publishes a list of areas where the IRS will not issue a private letter ruling. Items on the list can provide a warning to taxpayers that the IRS may not agree with the conclusion that would be sought in the ‘no rule’ area.
For 2020, the IRS added to the ‘no rule’ list or the ‘will not ordinarily be issued’ list:
1. Whether any portion of the items of income, deduction. . .