The Treasury Will Turn Up the Heat on Corporate Tax Wall Street Journal (12/06/00) Vol. 35, No. 3 p.A1; Yarbrough, Donald A.
Changes are being drafted for a proposal to create new
professional standards for lawyers, accountants, and other tax
specialists authorized to practice before the Internal Revenue
Service (IRS). Jonathan Talisman, acting assistant Treasury
secretary for tax policy, said the changes would "improve the
standards for writing opinions" utilized to market tax shelters
to investors. Meanwhile, the Treasury is pressuring Congress to
pass new antishelter legislation, but lawmakers hold that the IRS
has enough power against abusive shelters.