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    Taxation - Circular 230 apply

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    1) To whom does Circular 230 apply?

    2) What are the suggested best practices for tax advisors?

    3) Can the IRS penalize practitioners under Circular 230? Explain

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    Solution Preview

    As part of an ongoing effort to improve ethical standards for tax professionals and to curb abusive tax avoidance transactions, the Treasury Department and the Internal Revenue Service issued in 2004, final regulations amending Treasury Department Circular 230. Circular 230 is applicable to attorneys, accountants and other tax professionals who practice before the IRS. The revisions to Circular 230 provide standards of practice for written advice that reflect current best practices and are intended to restore and maintain ...

    Solution Summary

    The solution discusses taxation. Circular 130 apply is analyzed.