IRS Publication Circular 230 outlines the regulations governing practice before the Internal Revenue Service. It sets forth the duties and restrictions applicable to attorneys, certified public accountants, enrolled agents, enrolled actuaries, and appraisers who advise on federal tax matters. Compliance ensures ethical conduct and accurate representation when dealing with the IRS.
The significance lies in establishing standards of competence and integrity for tax professionals. These rules provide protection to taxpayers by requiring due diligence, preventing the dissemination of false or misleading information, and ensuring confidentiality. Historically, the regulations have been revised to address evolving tax planning strategies and maintain public trust in the tax system.