Florida Regulations 12-11.007: Effect of Advisements
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(1) A taxpayer may not rely on an advisement issued to another taxpayer, except that an advisement issued to a taxpayer association provides guidance to those taxpayers who are members of the taxpayer association for the particular transaction(s) discussed in the TAA. An advisement will be revoked or modified at any time by the Department in the administration of the taxing statutes, if the applicable statutes, rules, case law, or policies supporting the TAA change, or if the circumstances initially described by the taxpayer in his or her request for the TAA change. If an advisement is revoked or modified, the revocation or modification shall be prospective only, and such revocation or modification shall not be applied retroactively against the taxpayer.
(2) An advisement, issued to a taxpayer or a taxpayer association, with respect to a particular transaction represents a holding of the Department on that transaction only. If the advisement is later found to be in error, or no longer in accord with the position of the Department, it will afford the taxpayer no protection with respect to a like transaction in the same or subsequent years.
(3) When a taxpayer receives an advisement prior to the filing of his or her return, with respect to any transaction that has been consummated and that is relevant to the return, he or she should attach a copy of the advisement to the return.
(4) As part of the determination of a taxpayer’s liability, it is the responsibility of the Department to ascertain whether an advisement previously issued to the taxpayer or the taxpayer association has been properly applied. It should be determined whether the representations, upon which the advisement was based, reflected an accurate statement of the material facts and whether the transaction actually was carried out substantially as proposed.
(5) Members of a taxpayer association who choose not to follow the guidance provided in a TAA will not be subject to the precedential value of the TAA, and are liable for the tax consequences of not adhering to the Department’s position expressed in the TAA.
Rulemaking Authority Florida Statutes § 213.06(1), 213.22(3) FS. Law Implemented Florida Statutes § 213.22. History-New 5-27-82, Formerly 12-11.07, Amended 6-28-00.
Terms Used In Florida Regulations 12-11.007
- Case law: The law as laid down in cases that have been decided in the decisions of the courts.
(3) When a taxpayer receives an advisement prior to the filing of his or her return, with respect to any transaction that has been consummated and that is relevant to the return, he or she should attach a copy of the advisement to the return.
(4) As part of the determination of a taxpayer’s liability, it is the responsibility of the Department to ascertain whether an advisement previously issued to the taxpayer or the taxpayer association has been properly applied. It should be determined whether the representations, upon which the advisement was based, reflected an accurate statement of the material facts and whether the transaction actually was carried out substantially as proposed.
(5) Members of a taxpayer association who choose not to follow the guidance provided in a TAA will not be subject to the precedential value of the TAA, and are liable for the tax consequences of not adhering to the Department’s position expressed in the TAA.
Rulemaking Authority Florida Statutes § 213.06(1), 213.22(3) FS. Law Implemented Florida Statutes § 213.22. History-New 5-27-82, Formerly 12-11.07, Amended 6-28-00.