The Fianna Fáil ethics committee is meeting this afternoon to discuss Mayo TD Ms Beverly Cooper Flynn's future within the party.
Ms Cooper Flynn made an emphatic denial in the Dáil yesterday of allegations that she had helped her father, former minister and EU Commissioner, Mr Pádraig Flynn, evade tax.
It was alleged she helped her father to evade tax by lodging a £50,000 cheque from developer Mr Tom Gilmartin in a bogus non-resident account.
She said she had advised her father and her mother Dorothy on how to invest £25,000 in 1989. The money was invested in three different funds in her parents' names at their address in Brussels.
She denied any impropriety, saying she did not know the source of the money, nor did she benefit in any way from the investment.
She also insisted that as an employee of National Irish Bank, she believed she had fulfilled all her "legal and ethical obligations in relation to these investments".
The ethics committee, headed by the chairman of the Fianna Fáil Parliamentary Party, Mr Seamus Kirk, will hold a brief hearing today, but will suspend judgement until the Mahon tribunal reports on the Quarryvale module of its investigation.
Mr Gilmartin claims he was thwarted in his attempts to build a shopping centre at the West Dublin site by a range of politicians seeking money.
Ms Cooper Flynn has also lodged a Supreme Court appeal to her failed libel case against RTÉ, its correspondent Mr Charlie Bird and a retired Co Louth farmer, Mr James Howard.
Mr Bird had claimed in a report in 1998 that the TD had, while a financial advisor with NIB, helped people to set up bogus non-resident offshore accounts in order to evade Irish tax.
Ms Cooper Flynn sued, but the High Court ruled against her. The jury decided the defendants had proved she had advised or encouraged a number of persons referred to in evidence during the 28-day trial to evade tax. She could be facing a costs bill of up to €2.5 million.
She was suspended from Fianna Fáil, but readmitted prior to the last General Election, on the grounds that she had appealed the ruling to the Supreme Court.
Minister of State, Mr Willie O'Dea told RTÉ's Prime Timelast night it "seems to me to follow logically" that if she loses the appeal, she would lose the party whip again.
She had been suspended in 1998 for voting against a Government motion which called on her father to clarify his position about his dealings with Mr Gilmartin, but was readmitted nine months later.
