Tax News You Can Use . . .
IRS Rules on written advice have been tightened...
The IRS rules that govern the degree of risk we can legally take when providing you with advice have been tightened.
Originally these rules were designed to deal with traditional tax shelter avoidance schemes and the tax professionals who were advocating their use. The use of these rules now covers any transaction that has a significant purpose of avoiding income taxes.
We wanted to make you aware of these rules so that you understand the IRS’s increased focus on collecting taxes and penalties from those who have, and prepare, aggressive tax returns and use tax avoidance schemes.
