Tax practitioners and information management professionals around the country rejoiced in June 2014 when the Internal Revenue Service revised Circular 230 and effectively eliminated the requirement that almost every communication (including mundane email) from persons authorized to practice before the IRS contain a legend along the lines of: “This communication (including any attachments) was not intended or written to be used, and it cannot be used by the taxpayer, for the purpose of avoiding penalties that may be imposed on the taxpayer.” Though the new rules continue to impose additional ethical obligations on those who practice before the IRS, the elimination of the communication disclaimer requirement was welcomed by the tax community.
In Washington, both parties continue to indicate they can work together on tax matters. But the outcome of the recent elections likely will preclude any significant reform tax legislation for quite some time. Nonetheless, the House recently passed an extenders tax bill, containing more than 50 tax benefits for businesses and individuals for 2014, and provides for a new tax-advantaged savings account to care for persons with disabilities.
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