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Cases in the News—Even Bad Advice May Be Good Enough to Avoid Penalties  


Author:  Staff Editors.


Source: Volume 09, Number 06, September/October 2010 , pp.12-13(2)




Family Foundation Advisor

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Abstract: 

Most people know that reliance on the advice of an expert can help avoid penalties in some circumstances. “I don’t understand this tax stuff, but I consulted a lawyer (or CPA, or other professional) and relied on his/her advice” is an explanation often offered by a taxpayer when an IRS audit takes an unhappy turn.

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