Sunday, August 8, 2004
Tax Analysts has released the 6th edition of the classic book on ethical guidance for tax professionals: Standards of Tax Practice, by Bernard Wolfman (Harvard), James Holden (Steptoe & Johnson) & Kenneth Harris (Neal, Gerber & Eisenberg). Here is the description from Tax Analysts’ press release:
In the post-Enron world, tax professionals are under unprecedented scrutiny by administrators, regulators, lawmakers, clients, and their audit committees. Now, more than ever, tax professionals need a comprehensive guide for professional conduct.
Last issued in 1999, the new edition contains sections on:
• Recent government successes and losses in tax shelter litigation
• New rules on taxpayer obligations to disclose “reportable transactions”
• New advisor obligations
• Recently proposed Treasury regulations under Circular 230
• The Sarbanes-Oxley Act and limitations imposed on tax practice
• New developments in the area of tax malpractice
2 responses to “Tax Analysts Releases New Standards of Tax Practice”
Assuming that there is a line (whether bright or dim) that the ethical tax attorney should not cross, is it her duty to a client to get as close to that line as possible?
No. Assuming all other ethical and legal guidelines are met, it is her duty to approach that line to the greatest extent permitted by her client’s tolerance for risk.