• Visit the IRS Web site at www.irs.gov and search for information on Circular 230. Answer the following questions: o To whom does Circular 230 apply? The Circular 230 applies to all tax advisers and there clients. It is a vauge set of rules and compliances for tax advisers to comply to when suggesting any tax related advise to their clients. It was made for tax advisors to follow after several years of tax compliance, shelter and abuse. o What are the suggested best practices for tax advisors? Tax advisors are suggested to complete a full analysis of all relevant tax issues and discussions of the legal authority they have gathered and presented to their clients. They are also required to have a disclaimer to the conclusions and advisement they have given to their clients. This disclaimer specifically states that taxpayers may not rely on the advice of the tax advisor to avoid penalties related to nonpayment of taxes. Penalties for not complying to Circular 230 include.
This is the end of the preview. Sign up
access the rest of the document.