Ethics and Quality Control in Tax Practice

Circular 230 and IRC Sections 6694 and 7216 threaten horrific penalties on careless tax practitioners. The Office of Professional Responsibility is suspending practitioners who fail to apply "due diligence" to their preparation of tax returns. Together with revised AICPA Statements on Standards for Tax Services, these new rules will change the way CPAs approach the "tax business." New law introduces the possibility of monetary penalties for carelessness in applying the tax law to your client's tax affairs. This program helps you meet the "best practices" standard, other ethical standards, and regulatory requirements. It will also include discussion of privileged communication and various penalties that apply to tax practitioners.