²⁰Treasury Circular 230, Regulations Governing the Practice of Attorneys, Certified Public Accountants, Enrolled Agents and Appraisers Before the Internal Revenue Service (hereinafter, "Circular 230").

²¹Proposed Section 10.34, which imposes the realistic possibility standard for tax return positions, makes two minor revisions to current Section 10.34. First, proposed Section 10.34(c) mandates that practitioners make "reasonable inquiries" if information furnished by clients appears to be inconsistent with other facts or "factual assumptions," similar to proposed Section 10.35(a)(1)(ii). Second, the disciplinary standards in current Section 10.34(b) shift to proposed Section 10.52, which specify censure, suspension or disbarment for Circular 230 violations.

²²The ABA comments are available at www.abanet.org/tax/pubpolicy/2001/c230irs0104/.

²³Rev. Proc. 80-40, 1980-2 CB 774.

²⁴The ACTC comments are available at www.taxbase.org , Doc. No. 2001-15321.

²⁵The AICPA comments are available at www. aicpa.org/letters/comments.htm.

²⁶Consistent with its Nonfiler Initiative, the IRS has announced that practitioners who fail to file tax returns may also be subject to disciplinary sanctions under Circular 230. See Cogdell, 620 T.M., Practice Before the IRS; Attorney's Fees in Tax Proceedings (2001), on disreputable conduct, at n. 167.

²⁷The NYSBA comments are available at www.nysba.org/sections/tax/menu/index.htm.

²⁸See CC-2001-009 (1/19/01).

²⁹See IRM, Handbook 120.1, Penalty Handbook, Section 6.2, Director of Practice (last amended 7/8/99); see also Wolfman, Holden and Harris, Standards of Tax Practice (Little, Brown and Co., 5th ed., 1999), 105.1.5.2 and 302.6.2.

³⁰See Hembera, Jr., "Witnesses Say Circular 230 Regs Are Too Burdensome," 91 Tax Notes 880 (5/7/01)(hereinafter, "Hembera 1"); see also Hembera, Jr., "Tax Practice Panel Reviews Circular 230 Developments," 91 Tax Notes 1223 (5/21/01)(hereinafter, "Hembera 2").

³¹See Hembera 1, note 30 supra, at p. 880.

³²See id.; see also Hembera 2, note 30 supra, at p. 1223.