Circular 230 Guidance

Topics

August 1, 2011

Final Circular 230 Regs. Implement Preparer Registration Rules

The IRS has issued final regulations implementing components of its initiative to register and regulate all paid tax return preparers.

August 1, 2011

Codification of Economic Substance Affects All Tax Practitioners

This column discusses uncertainty surrounding the codification of the economic substance doctrine and explores selected areas of impact on CPAs’ professional obligations and practice.

May 31, 2011

IRS Finalizes Circular 230 Regulations

The IRS issued final regulations May 31 implementing components of its initiative to register and regulate all paid tax return preparers.

June 1, 2010

IRS Questions Willfulness Standard in Circular 230 Proceedings

This item summarizes the current definition of “willfulness” for purposes of Circular 230.

April 1, 2010

Circular 230 Best Practices

Circular 230, Section 10.33, on best practices deals with providing advice and preparing a submission to the IRS.

May 1, 2008

A Review of the Revised Disciplinary Process Under Circular 230

Circular 230 outlines the duties and restrictions relating to practice before the IRS and the rules regarding disciplinary proceedings for violations. Final regulations issued in 2007 made many changes to Circular 230.

April 1, 2008

CPA Obligations for Addressing Errors and Omissions

Both Circular 230 and AICPA professional standards impose obligations on CPAs who encounter errors or omissions on prior-year tax returns.

March 1, 2008

CPAs at Risk as Government Continues to Attack Abusive Tax Shelters

Through regulations and other forms of guidance issued since 1999, the IRS has clearly put tax practitioners on notice that it considers tax shelter transactions that generate noneconomic tax losses as not allowable for federal income tax purposes.

February 1, 2008

Circular 230 Conflicts of Interest

This item highlights the requirements of Circular 230 §10.29 and the new client consent standard and addresses how the new standard may affect practitioners and clients.

December 1, 2007

Final and Prop. Regs. Amend Circular 230

On September 26, 2007, the IRS released final and proposed regulations (TD 9359 and REG-138637-07) amending Circular 230, Regulations Governing the Practice of Attorneys, Certified Public Accountants, Enrolled Agents, Enrolled Actuaries, and Appraisers Before the Internal Revenue Service. The Service published proposed Circular 230 regulations in February 2006 (REG-122380-02). The

July 1, 2007

Circular 230 Penalty

Editor: Lesli S. Laffie, J.D., LL.M. Notice 2007-39 contains guidance on the imposition of monetary penalties for prohibited conduct under Section 10.52 of Circular 230, Regulations Governing the Practice of Attorneys, Certified Public Accountants, Enrolled Agents, Enrolled Actuaries, and Appraisers Before the Internal Revenue Service. The American Jobs Creation Act