IRS revoked a 2009 real-property-interest ruling without retroactive effect

Plain-English summary

The IRS revoked Private Letter Ruling 200923001, issued to the same taxpayer in 2009. It stated that the earlier ruling and its related discussion had been reconsidered and no longer reflected the IRS's view, citing the regulation defining a United States real property interest. The IRS exercised its discretion under section 7805(b) to apply the revocation without retroactive effect. The letter does not provide new substantive analysis beyond identifying the changed IRS position and revoking the prior ruling.

Ruling snapshot

• Question: Does PLR 200923001 remain the IRS's position?
• Outcome: Revocation, applied without retroactive effect
• Key authorities: Treas. Reg. § 1.897-1(c)(3); IRC § 7805(b); Rev. Proc. 2024-1, § 11.04(4)

Full text (IRS public release)

Internal Revenue Service Department of the Treasury
Washington, DC 20224

Number: 202449011 Third Party Communication: None
Release Date: 12/6/2024 Date of Communication: Not Applicable
Index Number: 897.02-00, 897.09-00,
1445.00-00, 1445.08-00 Person To Contact:
---------------------------, ID No.
------------------------ -----------------
---------------------- Telephone Number:
--------------------------------- --------------------
------------------------------ Refer Reply To:
------------------------- CC:INTL:B04
PLR-114954-24
Date:
August 28, 2024

Legend

A = ---------------------------------------------------

Dear ---------------:

This letter revokes Private Letter Ruling 200923001 (PLR-117760-08) dated February
26, 2009, which was issued by the Office of Associate Chief Counsel (International) to
A.

Please be advised that the ruling in the above referenced Private Letter Ruling and the
discussion related to that ruling have been reconsidered and are no longer the view of
the Internal Revenue Service. See Treas. Reg. § 1.897-1(c)(3). Accordingly, the above
referenced Private Letter Ruling is revoked. See Rev. Proc. 2024-1, § 11.04(4), 2024
I.R.B. 1. The revocation of the Private Letter Ruling is being applied by the Internal
Revenue Service without retroactive effect using its discretionary authority under
§ 7805(b).

This letter is directed only to the taxpayer that previously requested the above
referenced Private Letter Ruling.

                                         Sincerely,

                                         Kenneth Jeruchim

                                         Kenneth Jeruchim
                                         Senior Technical Reviewer, Branch 4
                                         Office of Associate Chief Counsel (International)