Tax
The Treasury Department and IRS are proposing significant amendments to Circular 230, marking the most substantial changes since 2014. These changes will directly impact how you conduct your tax practice. Here's what you need to know:
Impact on Tax Return Preparation
Following the Loving v. IRS decision, where the IRS lost its authority to regulate tax return preparers, the proposed regulations will remove provisions related to registered tax return preparers. The definition of "practice before the IRS" is being updated ...