Effective September 4, 2015
We want our users to always be aware of any information we collect, how we use it, and under what circumstances, if any, we disclose it.
||Sikich LLP and its subsidiary firm: Sikich Financial|
||1415 W. Diehl Road, Suite 400|
||Naperville, IL |
Information Collection and Use:
For each visitor to our Website, our Web server automatically recognizes only the visitor's domain name: not the e-mail address. The information we collect is:
- never shared with other organizations for commercial purposes
- used only for internal Web site traffic reporting
This site collects cookies. The cookies we collect are: temporary and used only for maintaining the user session on our Web site.
In order to use this Website, visitors and/or members are not required to complete our registration form.
Our site has a “contact us” page that requests information from the user.
To submit the form, a user must give certain contact information. We never sell or give away this information; it is only gathered to contact the user about services on our site for which s/he has expressed interest. It is optional for the user to provide demographic information (income level, gender, etc.), and unique identifiers (username, password, etc.). Giving additional information helps provide a more personalized experience on our site, but is not required.)
We have a customer service center and an online help desk.
In order to use our customer service center, a user must login with the credentials provided to them. This site is only secured by the login and does not use an SSL certificate. Information on this site contains client specific information and is protected only with a user login.
Our online help desk requests user information and is used solely to provide service to our clients and is never saved or sold to other companies.
When we publish a newsletter (ezine), we never sell or share our subscribers' email addresses.
When we operate online surveys, we never sell or share our subscribers' email addresses.
Notification of Changes:
We are committed to resolving disputes within one week. If problems arise, users may contact us by email or telephone.
||1415 W. Diehl Road, Suite 400, Naperville, IL 605563|
Sikich LLP Legal Disclaimer and Copyright
The content presented on this web site is for general information purposes only and should not be construed as representing professional advice whether accounting, tax, legal, or other service for the specific circumstances of any individual or organization. For specific situations, you should contact a professional of Sikich LLP and seek advice.
This site also contains links to other organizations, web sites and documents and may contain content provided and maintained by other individuals or entities. Sikich LLP has no control over information contained in the links and makes no guarantees or warranties regarding accuracy.
This legal disclaimer pertains to Sikich LLP subsidiary firm, Sikich Financial and to their web site.
Except as otherwise noted, all content © 2000-2012 Sikich LLP and is the property of Sikich LLP or its subsidiary firm. Use of any written text, graphics, logos, or company names is prohibited without prior written permission.
IRS Circular 230 Requirements
The IRS has issued new rules that will affect how we, tax professionals, communicate with you, our client. The rules, which took effect June 20, 2005 apply whenever a practitioner provides written advice, including e-mails, faxes, and letters, on tax issues. While the rules are motivated by the government's well-founded concern with abusive tax shelters, they will apply to advice given on many common and accepted transactions.
The rules grew out of the government's decision to attack the mechanisms used by tax shelter promoters to sell abusive tax shelters. The new rules address the practice of promoters who may have been obtaining “boiler-plate” opinions for tax shelters. Taxpayers engaging in abusive transactions have used these types of opinions to escape tax penalties of 20 percent or more, in additional to the additional taxes and interest that may have been owed on any deficiency, by claiming they "reasonably" and "in good faith" relied on the tax opinion for their belief that the transaction was permissible.
Based on the new IRS rules, clients cannot rely on a tax opinion for protection from penalties unless the practitioner provides a comprehensive opinion that considers and discusses:
- All relevant facts and applicable law,
- The relationship between the facts and the law,
- A conclusion as to the legal consequences of each tax issue, and
- The likelihood that the taxpayer will prevail if the IRS challenges the transaction.
The new rules apply to tax advice for transactions that have a "significant purpose" of tax avoidance. This standard is vague and uncertain, in large part because the IRS did not want to create any loopholes. Consequently, the new rules may sweep in many routine, non-abusive transactions. The penalties to practitioners can be severe for providing written advice that does not meet these requirements, including disbarment from practice before the IRS.
Often times, however, we communicate in writing with our client regarding tax matters in a less formal manner than that contemplated by a “comprehensive opinion.” These less formal communications are often appropriate when, for example, we are simply summarizing verbal conversations we have had on an issue or we have not been engaged to exhaustively research an issue. In many cases our clients do not want to incur the professional fees associated with a formal comprehensive opinion.
The IRS rules allow us to continue to provide written communications that are not in the form of comprehensive opinions if we include a certain legend (which language is provided by the IRS) within those written communications. Accordingly, effective immediately, we will routinely include the following language in all written communications that are not comprehensive opinions:
Federal Tax Notice:
Treasury Regulations require us to inform you that any federal tax advice contained herein (including in any attachments and enclosures) is not intended or written to be used, and cannot be used by any person or entity, for the purpose of avoiding penalties that may be imposed by the Internal Revenue Service.
Please be assured that we will continue to act diligently to serve you. The use of this legend does not change the quality of our service and the advice you have come to expect from us. Of course, where appropriate and after consultation with you, we would be pleased to provide a comprehensive opinion that meets the new rules.
If you have any questions about this important development, please contact us at email@example.com