State Debt Management Network

Teleconference
 

Thursday April 29, 2004

 3:30—5:00 p.m. EST

Topics to be covered include: 

· What is Circular 230?  To what does it apply now and, generally, what does it require in an opinion? 

· What is the pending Treasury proposal to revise Circular 230 and what is the proposed effective date for changes? 

· What is the industry reaction to the proposed Circular 230 revisions? 

· What do the proposed Circular 230 revisions mean in terms of deal dynamics, e.g., what would be the effect of an immediate effective date of the regulations?

             On April 29, 2004, from 3:30 to 5:00 p.m. Eastern Time, the State Debt Management Network will conduct a teleconference on disclosure issues related to the pending proposed Circular 230 regulations governing the practice of attorneys and other tax professionals before the Internal Revenue Service.

SDMN Chair Mary Margaret Collier and National Association of Bond Lawyers President Linda Schakel of Ballard Spahr Andrews & Ingersoll, LLP will lead the discussion of the Circular 230 regulations.

The proposed Circular 230 regulations seek to establish “best practices” for “tax advisors” providing tax advice; modify the requirements for “practitioners” providing certain “tax shelter” opinions; and provide compliance procedures for persons with responsibility for overseeing a firm’s tax practice. Failure to comply with the regulations is punishable by censure (public reprimand), suspension or disbarment of the practitioner from practice before the IRS.

There are a limited number of slots available for the call, so we ask that you register to ensure adequate spots for everyone wishing to participate. To register for this SDMN Teleconference, please reply to SDMN via email to callen@csg.org, or by calling (202) 624-8595. Registrations must be received by April 28, 2004. The call-in number, pass code and background materials will be provided to you prior to the call.