Proposed Changes to Circular 230 Dominate ABA Committee Meeting

Newman, Emily
January 2005
Bond Buyer;1/25/2005, Vol. 351 Issue 32056, p1
Trade Publication
The article reports that the California Treasury Department's proposed changes to Circular 230 that would set first-time standards for lawyers writing tax-exempt bond opinions dominated discussion at the American Bar Association's tax-exempt financing committee meeting late Friday, as bond lawyers began to zero in on many of the concerns that will appear in their comments on the proposal that are due March 1, 2005. Of the proposed amendments to Circular 230 that were issued December 20, 2004 bond attorneys focused on section that would require municipal bond lawyers to detail in writing the tax rationale underlying their bond opinions, as well as a section that cautions lawyers to use due diligence when relying on outside certifications of an issuer's tax-exempt status.


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