Circular 230 Deskbook

The expanded Circular 230 rules put new legal pressures on every practitioner who provides written tax advice, exposing them to the risk of penalties, censure, suspension, and even disbarment for noncompliance. "The Circular 230 Deskbook" helps you avoid these costly pitfalls, showing you step by step how to comply with the demanding new rules for Covered Opinions, as well as requirements for Reportable Transactions and oral advice relating to federal tax returns.

Thorough, section-by-section analysis of Circular 230 is supplemented by five laminated, quick-reference tools, including a Circular 230 written tax-advice decision tree; a Circular 230 compliance chart for covered opinions that pinpoints exceptions and special rules; a Circular 230 compliance flow chart detailing affirmative duties and prohibited activities; a Covered Opinions compliance checklist; and, a Reportable Transactions flow chart - all of which are reproduced in the appendix.