The Internal Revenue Service routinely processes more than 200 million tax returns each year, many of them prepared by tax professionals. Not surprisingly, as tax law becomes increasingly complex, taxpayers often seek for the knowledgeable assistance of attorneys, CPAs, enrolled agents and other qualified tax return preparers.
To help ensure such professionals understand their ethical responsibilities in representing their clients before the IRS and in preparing their tax returns, the IRS has published Treasury Department Circular No. 230. Circular 230 offers substantial guidance by:
- Setting forth rules relating to the authority to practice before the IRS;
- Identifying the duties and restrictions relating to practice before the IRS; and
- Prescribing sanctions for violating the regulations.
This course will examine many of those rules, duties and restrictions as well as the sanctions imposed for their violation. In that examination of applicable rules, the course will discuss the requirements imposed on tax return preparers by them and will then present real-world scenarios focusing on specific ethical issues preparers may encounter in their professional activities. The preparer will be asked to analyze the scenario, identify the ethical issue or issues presented and determine an appropriate response.
No advance preparation needed
Program Level – Basic
Program prerequisites – None
Delivery method – QAS self-study
Recommended CPE credits – 2
Recommended field of study – Taxes & Regulatory Ethics
Course Learning Objectives
- Recognize the permitted scope of tax return preparer responsibilities;
- Identify the best practices for tax advisers in preparing or assisting in the preparation of a submission to the Internal Revenue Service;
- List 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
- List the various sanctions that may be imposed for a preparer’s failure to comply with applicable conduct rules.
Copyright 2023 by Winn Publications ALL RIGHTS RESERVED. NO PART OF THIS COURSE MAY BE REPRODUCED IN ANY FORM OR BY ANY MEANS WITHOUT THE WRITTEN PERMISSION OF THE COPYRIGHT HOLDER. All materials relating to this course are copyrighted by Winn Publications. Purchase of a course includes a license for one person to use the course materials. Absent specific written permission from the copyright holder, it is not permissible to distribute files containing course materials or printed versions of course materials to individuals who have not purchased the course. It is also not permissible to make the course materials available to others over a computer network, Intranet, Internet, or any other storage, transmittal, or retrieval system. This document is designed to provide general information and is not a substitute for professional advice in specific situations. It is not intended to be, and should not be construed as, legal or accounting advice which should be provided only by professional advisers. No advance preparation needed Program Level - Basic Program prerequisites - None Delivery method - QAS self-study Recommended CPE credits - 2 Recommended field of study - Regulatory Ethics
