Tax Notes reported that Taxpayer Advocate, Nina Olson, at the Fall ABA Tax Section Meeting advised tax representatives that IRS “FAQ lists on tax topics are too often “a trap for the unwary” and should not be used to sustain a position, which the IRS might have contradicted in a press release or other bulletin.”

See full report at Tax Notes (subscription required). 

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.