In this episode, Adam answers listener questions about Tax Opinion Letters - What is a tax opinion and why might you want one? Surprisingly, many clients and tax advisers have trouble saying exactly just that. Do Tax Opinions Bind the IRS? Are Tax Opinions About Penalty Protection? Should I Get An Opinion if I'm Audited? Do Good Tax Opinions have to be “Strong and Assertive?” Can Assumptions Be About Anything & Do they have to be Reasonable assumptions? Is there any Advantage In Writing Opinions Early? Should Give the Opinion To the IRS? Should Give the Opinion To the Return Preparer? Are Opinions Helpful In a Dispute? These and other questions are discussed in an attempt to dispel the prevailing myths about Tax Opinion Letters.