Regarding Technical Advice Memoranda, which statement is incorrect?
A) Issued by the National Office of IRS.
B) Most often deal with a completed transaction.
C) May be cited and used as precedent.
D) Issued with multi-digit file numbers.
E) None are incorrect.

Question

Quizplus · Accepted Answer

Technical Advice Memoranda (TAMs) are not meant to be cited or used as precedent by taxpayers. They are advice given by the IRS National Office in response to specific questions affecting a taxpayer's completed transactions, but their applicability is intended to be limited to the specific set of facts and circumstances involved in the request.

Regarding Technical Advice Memoranda, Which Statement Is Incorrect