Seeking Private Letter Ruling from IRS

[Michael Medaglia]

Hi everyone,

I found PLR 200745011 which similarly represents my family's situation with some key differences. I want to request a private letter ruling from the IRS on my particular situation but need the ruling reasonably soon. If I submit for a PLR to the IRS, approximately how long will it take for them to get back to me?

[Bruce D. Kowal]

Twelve months would be in the ballpark.  A PLR is not a casual matter.   It better be factual.  There is a procedure to expedite the PLR:   Expedited Handling of Letter Ruling Requests .  I did one of these some time ago.  Figure on a minimum of 30 to 40 hours of time charged by your CPA.  It will cost you not less than $15,000.