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Understanding Ethical Issues in Your Tax Practice (TXE4)

Customer Rating
Field of Study
Regulatory Ethics
Level
Basic
Credits
4
Qualifies For
CPE



Price:  $39.99
This four-hour course covers most of the specific ethical considerations that come into play as a practitioner in the eyes of the Internal Revenue Service. It also covers sanctions and limitations on both clients and practitioners arising out of the preparation of an income tax return.

Additional information

Credits

4

Format

Self-Study Download

Company Code

Self Study

Yellow Book Approved

0

CFP Approved

0

IRS Approved

0

CTEC Approved

0

Field of Study Credits

Regulatory Ethics (Technical) (4)

Field of Study Department

Regulatory Ethics (Technical)

Course Version

2018-01

CPE Approved

1

Pre-requistes:

Experience in tax return preparation

Knowledge Level:

Basic

Major Topics:

  • What Internal Revenue Code penalty provisions associated with positions taken an income tax return apply to taxpayers
  • What Internal Revenue Code penalty provisions associated with positions taken an income tax return apply to tax return preparers
  • What is the difference between more-likely-than-not, substantial authority, realistic possibility, reasonable basis and a non-frivolous position
  • What limitations does the IRS place on fee arrangements
  • What duties does the practitioner have with respect to client records
  • What are the education requirements
  • What ethical considerations come into play under Circular 230 in connection with the conduct of a tax practitioner in connection with positions taken on an income tax return
  • What are the latest administrative regulations applicable to a tax return preparer
  • Who must be registered as a tax return preparer
  • Who is a tax return preparer
  • What limitations apply with respect to a written tax opinion
  • What sanctions may be applied for violations of Service imposed standards of conduct
  • Under what circumstances does a legend protect a practitioner from a covered opinion
  • What is a covered tax opinion
  • Who is a tax practitioner
  • What responsibilities does the Office of Professional Responsibility regulate

Learning Objectives:

  • Understand the standards that apply to a tax position taken by a tax return preparer
  • Understand a tax return preparer’s duties of registration, continuing education, and meeting competency standards by IRS-administered examination
  • Understand the authority of the OPR to discipline through sanctions individuals performing tax-related services

Designed For:

CPAs with a tax practice
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