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.

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