Washington -- Donald Zelnik, recently appointed as acting senior counsel at the Internal Revenue Service, will act as a primary advisor to IRS chief counsel Donald Korb on the rising issue of abusive tax transactions.
In that role, Zelnik will work with both the IRS and Treasury to identify, analyze and issue administrative guidance to address abusive transactions.
"Halting the promotion and use of abusive tax schemes is one of my top priorities and the senior counsel will play a key role as my principal advisor in achieving this goal,” said IRS Chief Counsel Donald Korb in a statement.
Zelnik is also charged with sharpening how the office of chief counsel addresses abusive shelters, from improving communication, to helping the IRS identify and halt the marketing of abusive shelters.
To date the IRS and Treasury have identified 31 listed tax transactions -- potentially abusive schemes. Many of those involve partnerships, S corporations, foreign tax credit intermediary transactions, Roth IRA transactions, employee stock ownership plans, and offsetting foreign currency option contracts.
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