Taxpayers are often surprised to learn that they are not protected by relying on advise from an IRS employee. Only a private tax adviser can warranty reliability of their advice, and warranty is limited to specific remedy offered by adviser. This might be representation at no additional charge to resolve an issue in dispute or a return of fee. A taxpayer can rarely be protected from tax liability due to incorrect advice.

Investors are irked because they thought that these plans represented a guarantee backed up by sponsoring state and are shocked to learn that this is not case.

Of course, a recovery of financial markets will greatly help ease burden, but many investment advisers do not expect that to happen in near future.