Circular 230 Violators Now Face Fines

Barnett, Susanna Duff
October 2004
Bond Buyer;10/13/2004, Vol. 350 Issue 31988, p1
Trade Publication
The article says that the recently passed corporate tax package includes two revenue-raising provisions that would make significant changes to the penalties the U.S. Internal Revenue Service (IRS) can impose on tax-exempt bond attorneys and other professionals under Circular 230 and Section 6700 of the tax code. The corporate tax bill would for the first time impose a monetary penalty under Circular 230, which governs attorneys, certified public accountants, and others who practice before the agency. Violators of the rule currently can be censured, suspended, or disbarred from practicing before the IRS.


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