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Revised Circular Requirements for Written Tax Advice
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The Attorney - CPA
- Article date:
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January 1, 2006
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Copyright informationCopyright American Association of Attorney-Certified Public Accountants Jan 2006. Provided by ProQuest LLC. (Hide copyright information)
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Treasury Department Circular 230 imposes standards upon legal, accounting and other professionals who render tax advice and, effective June 20, 2005, provides specific requirements for certain written advice that constitutes a "covered opinion." Circular 230 may apply to any written memoranda, letters, opinions and even e-mails that consider federal tax issues. Although further guidance regarding the application of Circular 230 appears to be forthcoming, the following discussion explains the current requirements applicable to written tax advice.
A covered opinion is written tax advice by a practitioner with respect to:
1. a transaction that is the same as or substantially similar to a ...
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