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Understand requirements of the 2015 Tax Ethics, resolve dilemmas, and protect clients
Interpreting the tax law for the benefit of a taxpayer is a challenging task. Ethical dilemmas will continually arise, and practitioners must weigh the consequences of their moral choices to determine if their decisions are proper. Although there is always the risk that the client will not want to receive the interpretation or the advice that the practitioner provides, the tax professional must do the "right" thing.
This updated 2015 course will help the practitioner to understand requirements, resolve dilemmas, and protect their clients to the full extent allowed by law. Circular 230 governs the practice of CPAs, attorneys, enrolled agents, actuaries, and appraisers before the IRS. The course will also discuss practice situations that are covered by other IRS policies and practices delineated in the Internal Revenue Manual. The instructor will also provide an in depth update on problems being encountered by the Internal Revenue Service and the impact on the professional community.
Major topics include:
IRS Office of Professional Responsibility
Circular 230 as a summarization of treasury regulations
Persons able to practice before the IRS
Definitions of practice
Furnishing information to the IRS
Knowledge of a client's omission
Diligence to accuracy
Reliance on other persons
Client records in fee payment disputes
Best practices for tax advisors when providing written opinions
IRS authority to disbar or suspend a practitioner
Powers of attorney
2014 status of the Registered Tax Preparers
2014 and 2015 court cases impacting tax practice
Describe the purpose and responsibilities of the IRS Office of Professional Responsibility
Evaluate actions taken in the representation of clients to determine if they are in compliance with Circular 230
Identify proper fee charges for clients in IRS practice issues
Express to their clients actions that are considered improper in the filing of tax returns and could result in the assertion of IRS penalties
Initiate a written tax opinion to a client
Understand the possible disciplinary actions that the IRS can assert against tax practitioners in specific ethical situations
Level of Knowledge: Basic
CPE Credit: 2 Hours
NASBA Category: Ethics
*Single User Price. For multiple users please call 1-800-223-8720
Stuart Sobel has provided expertise in areas including tax planning, business creation, tax-exempt filing, strategic planning, charitable giving, employee benefits, and tax controversy for more than 48 years. He has worked with thousands of diverse businesses and nonprofit organizations including pu...
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