Exploring the Myths of Circular 230

Article Abstract:

The Proposed Amendments to the United States Treasury Department's Circular 230 and Circular 230 itself are critiqued to alert tax practitioners in the field of tax shelter opinions. The discussion focuses on the following topics: negative tax shelter opinions, application of standards, enforcement, due diligence to relevant facts, due diligence to tax issues, and overall evaluation. The purposes of the Economic Recovery Tax Act (ERTA) of 1981 and the Tax Equity and Fiscal Responsibility Act (TEFRA) of 1982 are delineated. Five significant myths about Circular 230 are presented. These are: (1) The Treasury has statutory authority to issue the final amendments, (2) final amendments will be independently implemented, (3) final amendments are necessary, (4) the Treasury prefers professional self-regulation but has been forced to proceed with the final amendments, and (5) final amendments represent good policy.

Criticism and interpretation, Law enforcement, Tax shelters

---

Make your voice heard

Article Abstract:

The Intermodal Surface Transportation Efficiency Act of 1991 (ISTEA) focuses on allocating funds in the construction of bike trails, lanes and sidewalks. These funds are taken from federal tax on gasoline. However, ISTEA might be amended or eliminated on the coming Congress hearing.

Laws, regulations and rules, Cycling, Federal aid to transportation, Government aid to transportation

---

A word from our sponsors: corporate sponsorships help at-risk children in Phoenix get wet

Article Abstract:

Children from traditionally under-served communities in the Phoenix area are profiting from a cooperative effort between the Recreation Department and city businesses. Twenty-eight community swim centers in the area are involved.

Arizona, Social aspects, Services, Cover Story, Recreation, Phoenix, Arizona, Swimming for children, Children's swimming, Corporate sponsorship

Similar abstracts:

• Abstracts: Surveying your electrical needs. Whiskies to warm to
• Abstracts: A taste of Thailand. Alan Robertson
• Abstracts: Cigarette cards. Life expectancy and reproduction
• Abstracts: News and information about chartering. IBM Picks a New Fix for Its Personal Computer: Unix
• Abstracts: Building a vision. Watch Your Parking Meters

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.