Example:
Client's email: "Can I deduct HOA fees for my rental?"
Tax Preparer's email response: "Yes, HOA fees are deductible"
Lots can go wring with this answer. For example, what if the losses become PALs and the client was counting on the deduction to be below a threshold for a child's financial aid?
Perhaps this specific example is silly, but I hope you get my point. There could be misunderstandings and other unintended consequences with simple answers like this.
A more proper answer would be to provide the publication reference, but even that is going to leave things out.
Really, any "simple" tax question would need 5-10 pages of text to answer adequately.
...
So how do you handle these?
Are you not concerned at all about liability from these? Are you concerned a little? Or are you concerned a lot?
Would your professional liability cover lawsuits resulting form misunderstandings?