(Bloomberg) To everyone but tax attorneys, the disclaimers referring to “Circular 230” that appear in the legends of most law firm e-mails are inscrutable as well as ubiquitous. The Internal Revenue Service has now changed its rules so that those disclaimers can be deleted permanently.
Circular 230 is the Internal Revenue Service’s compilation of regulations governing tax practice by lawyers, accountants and other professionals that became effective in 2005. The rules resulted from the tax shelter abuses of the 1990s, Christopher Rizek, a tax attorney said last week in a phone interview.
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