Private letter ruling

Definition - Noun
: a letter from the Internal Revenue Service to an individual taxpayer setting out the agency's interpretation of the tax rules relating to a specific situation or transaction proposed by the taxpayer



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Based on Merriam-Webster's Dictionary of Law ©2001.
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common-law lien

a lien under common law giving a creditor (as a bailee) in possession of property the right to retain possession until payment of the amount due


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