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Circular 230 Clamp Down

David A. Handler, partner in the Chicago office of Kirkland & Ellis LLP, reports that on Sept. 23, 2007, the Treasury Department issued proposed amendments to Circular 230 that essentially say, Yes, this applies to you. And your advice better meet a pretty high standard. This tightening of the Circular 230 noose is scheduled to take effect in 2008. Specifically, the amendments clarify that Circular
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David A. Handler, partner in the Chicago office of Kirkland & Ellis LLP, reports that on Sept. 23, 2007, the Treasury Department issued proposed amendments to Circular 230 that essentially say, “Yes, this applies to you. And your advice better meet a pretty high standard.”

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