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TREAS/IRS | RIN: 1545-BG84 | Publication ID: Fall 2008 |
Title: Tax Preparer Penalties Under Section 6694 | |
Abstract: The Internal Revenue Service will issue temporary regulations that revise the definition of "tax return preparer" consistent with section 8246 of the Small Business and Work Opportunity Tax Act of 2007, Public Law 110-28. The temporary regulations will also alter the standards of conduct that preparers must meet to avoid imposition of penalties for preparing a return where there is an understatement of tax and the tax preparer knew, or reasonably should have known, of the tax treatment of a return position. | |
Agency: Department of the Treasury(TREAS) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: No | Unfunded Mandates: No |
CFR Citation: 26 CFR 1 26 CFR 301 | |
Legal Authority: 26 USC 6060 26 USC 6107 26 USC 6109 26 USC 6694 to 6696 26 USC 7701(a)(36) 26 USC 7805 |
Legal Deadline:
None |
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Timetable:
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Additional Information: REG-129243-07 Drafting attorney: Michael E. Hara (202) 622-7419 Reviewing attorney: James C. Gibbons (202) 622-4910 CC: PA: Branch 1 | |
Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Small Entities Affected: Organizations | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Related RINs: Related to 1545-BG83 | |
Agency Contact: Michael E. Hara Attorney Department of the Treasury Internal Revenue Service 1111 Constitution Avenue NW., Room 5529, Washington, DC 20224 Phone:202 317-5417 Fax:202 874-9248 Email: michael.e.hara@irscounsel.treas.gov |