Required disclosure under U.S. Treasury Department regulations.
In accordance with the requirements of the Internal Revenue Service and U.S. Treasury Department Circular 230 (31 C.F.R. Part 10), we inform you of the following:
Any tax advice contained in this website, in communications from Biscayne Bay Advisory, or in any deliverables produced by our firm (including memoranda, analyses, reports, and correspondence), unless otherwise expressly stated, is not intended or written to be used, and cannot be used, by any taxpayer for the purpose of (i) avoiding penalties under the Internal Revenue Code, or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein.
Circular 230 is a set of regulations issued by the U.S. Treasury Department that governs the practice of tax professionals before the Internal Revenue Service. These regulations require tax practitioners to include specific disclosures when providing tax advice that is not a "covered opinion" meeting heightened standards of due diligence.
This disclosure is included to ensure full compliance with these regulations and to inform clients and recipients of our communications about the intended scope and limitations of any tax advice provided.
Tax advice provided by Biscayne Bay Advisory is based on the specific facts and circumstances presented by the client at the time of the engagement. Our analysis and recommendations are prepared in accordance with applicable professional standards and reflect the law as of the date of issuance.
Our tax advice is intended solely for the use of the client to whom it is addressed and should not be relied upon by any other party without our prior written consent.
Unless an engagement letter or deliverable specifically states that the advice constitutes a "covered opinion" under Circular 230, the tax advice provided should not be used to support a position taken on a tax return for the purpose of avoiding IRS penalties. If a client wishes to obtain advice that meets the heightened requirements of a covered opinion, a separate engagement should be discussed.
Biscayne Bay Advisory adheres to the following professional standards in the delivery of tax services:
If you have questions about this Circular 230 Notice or would like to discuss the scope of tax advice applicable to your situation, please contact us:
Biscayne Bay Advisory
Miami, Florida
Email: contact@biscaynebay.advisory