Tax Return Preparer Ethical Issues ON DEMAND

Overview

Tax professionals often grapple with the intricacies of Treasury Department Circular No. 230, which delineates the ethical responsibilities of practitioners. Missteps in understanding or applying these rules can lead to serious professional consequences. This course offers a comprehensive solution to these challenges. By examining the key aspects of Circular 230, participants gain in-depth knowledge about the scope of permissible responsibilities, best practices for IRS submissions, and standards related to tax return and document preparation. The course also navigates through real-world scenarios, enhancing participants’ ability to tackle ethical dilemmas in their practice. By the end of this course, tax professionals will be well-versed in the duties and restrictions of their practice, understanding the sanctions for non-compliance and the standards for client interaction. This course is an invaluable guide to maintaining integrity and professionalism in the field of tax preparation. NOTE: This course does NOT meet Washington State Ethics Requirements.

Highlights

Tax return preparer responsibilities. Practitioner duties and restrictions. Sanctions for regulation violations.

Prerequisites

None.

Designed For

CPAs, tax practitioners, and enrolled agents.

Objectives

Recognize the scope of permitted tax return preparer responsibilities. Identify the best practices for tax advisers in preparing or assisting in the preparation of a submission to the IRS with respect to client communication, establishing relevant facts, providing client advice, and practice before the IRS. Recognize the standards related to tax return and document preparation as well as applicable standards for advising clients concerning potential penalties. Recognize practitioner duties and restrictions with respect to information to be furnished to the IRS; the practice of law; dealing with taxpayer omissions, errors and noncompliance with U.S. revenue laws; the requirement for preparer diligence as to accuracy; return of client records; the existence of conflicts of interest; and solicitation of business, and more.

Preparation

None.

Notice

None.