Tax Practice Ethics (SMTX09/22)
Learn what is required to comply with the Treasury Department’s “Circular 230,” as well as Internal Revenue Code sections imposing penalties for failure to exercise reasonable care in preparing income tax returns and giving tax advice to clients. Put all that in context as professional ethical standards by understanding AICPA “Statements on Standards for Tax Services,” which are enforceable tax practice standards for members of the AICPA. An ethical tax practice needs the same sort of quality controls CPAs impose on their attest practices.
Enrolled Agent Approved
Every CPA who prepares tax returns or advises clients about tax compliance.
- How to prepare Form 8275
- How to explain range of compliance standards; “Frivolous to more likely than not” to clients and Tax Staff
- Design of Effective Quality Control System
- Selling the Client on the Value of Quality Control Procedures
- Treasury Circular 230
- AICPA Statements on Standards for Tax Services
- Internal Revenue Code penalty provisions for failure to disclose return positions having no greater than a realistic possibility of success
- How to disclose return positions and avoid penalties
- Preparation of Form 8275