The Circular 230 Deskbook: Related Penalties, Reportable Transactions, Working Forms

The Circular 230 Deskbook is an essential compliance resource for every tax professional who practices before the IRS, helping practitioners comply with complex Circular 230 amendments more easily — and avoid costly penalties and sanctions. 

The Circular 230 Deskbook shows you how to:

• Meet mandated duties applicable to six types of covered opinions
• Comply with critical requirements for written tax advice
• Carry out prescribed duties when advising in preparation of tax returns
• Satisfy reporting/list maintenance rules for six types of reportable transactions, and
• Qualify for ”safe harbors” that free you from burdensome Circular standards, exploit proven defenses against the Code’s section 6662 penalties, and avoid common errors that can trigger these 6662 penalties

The Deskbook brings you laminated, quick-reference compliance tools, including:

• Circular 230 written tax advice decision tree
• Circular 230 compliance chart for covered opinions highlighting exceptions and special rules
• Circular 230 compliance flowchart detailing affirmative duties and prohibited activities
• Covered opinions compliance checklist, and
• Reportable transactions compliance flowchart