Internal Revenue Bulletins  

2007 Revenue Rulings

A "Revenue Ruling" is an official interpretation by the Service of the Internal Revenue Code, related statutes, tax treaties, and regulations. It is the conclusion of the Service on how the law is applied to a specific set of facts. A evenue uling states the Service position on an issue. For more information about Revenue Rulings see Revenue Procedure 89-14, or, the Guide to Understanding the Differences Among Official IRS Documents.

Revenue Rulings Bulletin Date of IRB
Rev. Rul. 2007-02(HTML) IRB #2007-03(HTML) January 16, 2007
Federal Rates; Adjusted Federal Rates; Adjusted Federal Long-Term Rate and the Long-Term Exempt Rate
For purposes of sections 382, 642, 1274, 1288, and other sections of the Code, tables set forth the rates for January 2007.
Rev. Rul. 2007-01(HTML) IRB #2007-03(HTML) January 16, 2007
Credit Card Nonsufficient Funds (NSF) Fee
This ruling provides that a credit card nonsufficient funds (NSF) fee as described in the ruling is not interest for federal income tax purposes. Also, this ruling holds that a credit card NSF fee is includible in income by the issuer of the credit card when the NSF Event, as defined therein, occurs.


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