¹See Doering, The Final Disclosure and List Maintenance Regulations, 81 Taxes 31 (May 2003).

²The SSTSs are available at aicpa.org/download/tax/sstsfinal.pdf.

³Treasury Circular 230, Regulations Governing the Practice of Attorneys, Certified Public Accountants, Enrolled Agents and Appraisers Before the Internal Revenue Service (hereinafter, Circular 230). Proposed amendments to Circular 230, covering tax shelters and other practitioner standards, will likely be finalized in 2004.

⁴See Swails, New Standards for Tax Practice, 190 JOA 79 (November 2000); Cogdell, Practice Before the IRS; Attorneys Fees in Tax Proceedings, Portfolio 620 TCM (BNA 19952003).

⁵TEC, Exposure Draft, Proposed Interpretation No. 1-2, Tax Planning, of SSTS No. 1, Tax Return Positions (11/11/02).

⁶See, e.g., Gregory v. Helvering, 293 US 465 (1935) and ACM Partnership, 157 F3d 231 (3d Cir. 1998).

 ⁷Compaq Computer Corp.,113 TC 214 (1999), revd, 277 F3d 778 (5th Cir. 2001).

⁸In a Letter to Members (3/24/03) regarding abusive tax shelters, Robert Zarzar and Barry Melancon state that abusive tax shelters should be eradicated. However, the letter also stresses that tax minimization is a basic taxpayer right.

⁹See Letter to the Honorable Charles Grassley, Max Baucus, William Thomas and Charles Rangel, from Robert Zarzar, AICPA TEC Chair (9/2/03).

¹⁰See, e.g., Mendelson, Bhikha and Emilian, Tax Shelter Temp. Regs (Parts I and II), 34 The Tax Adviser 86 (February 2003) and 34 The Tax Adviser 142 (March 2003) and Mendelson and Emilian, Tax Shelter Final Regs, 34 The Tax Adviser 338 (June 2003).

¹¹SSTS No. 1 states, in part, that when recommending a tax return position, a member has both a right and responsibility to be an advocate for the taxpayer.

¹²Terence J. Horn, 968 F2d 1229, 1238 (DC Cir. 1992).

¹³James L. Rose, 88 TC 386, 410 (1987), affd, 868 F2d 851 (6th Cir. 1989).

¹⁴See Bankman, Articles and Essays: The Economic Substance Doctrine, 74 S. Cal. L. Rev. 5, 12 (2000).

¹⁵See Rose, note 13 supra, quoting Rices Toyota World, Inc., 81 TC 184 (1983), affd in part and revd in part, 752 F2d 89 (4th Cir. 1985).

¹⁶See Collins, Practitioner Guide to IRS Penalties (CCH, 2002); Cogdell, note 4 supra; and Circular 230.

¹⁷See the discussion in Illustration 3.

¹See Wolfman, Holden and Harris, Standards of Tax Practice, 601606 (Tax Analysts, 5th ed., 1999).