Abstract

http://ssrn.com/abstract=1521600
 


 



Standards of Practice for Pension Practitioners


David A. Pratt


Albany Law School

2006

John Marshall Law Review, Vol. 39, No. 3, pp. 667-719, 2006

Abstract:     
Pension practitioners may be subject to several different sets of ethical rules. First, there are the rules governing the practice of the particular profession to which the individual belongs. Second, if the individual practices before the Internal Revenue Service, he or she must meet the standards of practice promulgated by the Treasury Department and IRS. Third, the individual must comply with the ethical rules issued by professional organizations to which he or she belongs. There have been three important recent developments. First, as part of its battle against abusive tax shelters, the IRS has identified several “listed transactions” involving employee benefit plans. Second, the American Jobs Creation Act of 2004 has greatly increased the penalties that may be imposed in connection with abusive tax shelters. Finally, IRS has issued detailed new regulations governing standards of practice. This article discusses each of these issues and focuses on the new regulations, their lack of clarity in several important areas, and the difficulties that pension practitioners will have in understanding their scope and complying with their requirements.

Number of Pages in PDF File: 53

Keywords: pension, IRS

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Date posted: December 11, 2009  

Suggested Citation

Pratt, David A., Standards of Practice for Pension Practitioners (2006). John Marshall Law Review, Vol. 39, No. 3, pp. 667-719, 2006. Available at SSRN: http://ssrn.com/abstract=1521600

Contact Information

David A. Pratt (Contact Author)
Albany Law School ( email )
80 New Scotland Avenue
Albany, NY 12208
United States
518-472-5870 (Phone)

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