Depends on what you are trying to accomplish. Most of the time if you receive an IFC you load it in your project as reference.
IFC are more or less static content. While you can open an IFC and Revit will try to fit it in the proper categories and sometimes even make it parametric, however in many cases it will not have the behavior needed.
Most of the times you receive an IFC because another party is responsible for that part of the building. So changes are normally made by that party and then you will receive a new IFC.
If you receive an IFC and you are going to remodel it, than it seems double work, not very BIM like.
IFC is meant as and endpoint and not meant for modelling.
So do not expect to load the IFC and use it to make changes. So back to the source or remodeling
Louis

Please mention Revit version, especially when uploading Revit files.