IRS Circular 230 – Marketed Opinions

Sec. 10.35: Covered Opinions

“Marketed Opinions”

Under the 10.35(c)(iv), a “Marketed Opinion” must provide the practitioner’s conclusion that the taxpayer will prevail on the merits at a confidence level of at least more likely than not with respect to each significant federal tax issue. If the practitioner is unable to reach a more likely than not conclusion with respect to each significant federal tax issue, the practitioner must not provide the marketed opinion.

Under Sec. 10.35(e)(2(i),(ii):
A marketed opinion must prominently disclose that:
(i) The opinion was written to support the promotion or marketing of the transaction or matter addressed in the opinion, and
(ii) The taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor.


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