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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

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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