The Peck Group LC
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Comprehensive Tax Law Representation Since 1995
We handle every aspect of tax law: preparing tax returns, representing clients during audits, resolving IRS and state tax controversies, and creating tax planning strategies for the future.

The difference between tax rulings and opinions

On Behalf of | Sep 5, 2019 | Uncategorized |

Many taxpayers in Georgia have questions about their tax returns. You may find the answers you need online, but in some cases, you need to reach out to the IRS privately. From there, you need to decide whether you want to pursue a tax ruling or just an opinion on your case. 

Pursuing the wrong course of action can delay when you can file taxes, and you do not want to open yourself up to penalties. Here is what you need to know about rulings and opinions, so you can make an informed decision regarding your case. 

Tax rulings

A tax ruling is an official, legally binding statement from the IRS. That means you can follow the organization’s advice and not incur any penalties. If you receive a ruling, then you should attach it to your tax returns so the IRS has a reminder of the statement’s official nature. 

However, tax rulings are difficult to attain. They can take months to complete because the IRS does not want legal bindings. There are some cases where the organization may not issue a ruling at all. The only time you should ask for a ruling is if you know you can receive an answer that works in your favor. 

Tax opinions

On the other hand, an opinion is not a legally binding statement. An opinion is just a way for the IRS guide you, but you may still need to do some legwork to find the answer you need. Unlike rulings, opinions only take a few days or several weeks to receive. 

You should not wait until you have a tax audit to request an opinion. If you have any questions, seek answers before filing your tax return. You cannot attach an opinion to your tax returns, but it can help you ensure everything is correct. 

We insist that your taxpayer rights are protected and your options are known.

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