Treasury issues long-awaited amendments to Circular 230! Stay Tuned!
Treasury issues long-awaited amendments to Circular 230. On June 9, 2014, Treasury published amendments to Circular 230 that we have been anticipating for the past several months. It looks like the crazy email disclaimers, just like leisure suits, will be a thing of the past. Among many changes to Circular 230, the final regulations eliminate or clarify the complex rules for written advice. Based upon my first read of the regulations, it certainly appears Treasury has been listening to tax practitioners.
Stay tuned, I will be posting a summary of the amended regulations soon.
Posted in Internal Revenue Service, Tax Laws, Tax Procedure
Tagged as FBAR, FBAR enforcement, FBAR rules
