Accounting issues take center stage

摘要

In a decision hot off the press, the First Circuit Court of Appeals (which hears appeals from fed-eral courts in Maine, New Hampshire, Massachusetts, Rhode Island and Puerto Rico), sitting en bane (every judge of the court), held that a company's tax accrual work papers were not protected under what is known as the attorney work-product privilege (the "privilege"), and thus had to be turned over to the IRS in a tax shelter investigation.