Field Service Advice (FSAs)are Binding Guidance Provided by the IRS

question 25

True/False

Field Service Advice (FSAs)are binding guidance provided by the IRS National Office toIRS service centers.

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Definitions:

Promissory Estoppel

Promissory Estoppel is a legal principle that prevents a person from going back on a promise, even if it wasn't formally made as a contract, provided others have relied on the promise to their detriment.

Property Manager

An individual or company responsible for the maintenance and operation of real estate properties, acting on behalf of the property owner.

Financial Difficulties

refer to situations where an individual or entity struggles to meet financial obligations due to insufficient funds.

Quantum Meruit

A legal principle that allows a party to receive a reasonable payment for services provided when no specified compensation is involved.