This course provides a comprehensive overview of the ethical standards and principles governing tax practice, as outlined in IRS Circular 230. Participants will explore the importance of ethics in the tax preparation industry, review IRS rules, and examine common ethical violations and their associated penalties. The course emphasizes procedures that promote compliance with ethical guidelines, equipping tax practitioners to navigate complex ethical dilemmas confidently. Real-world scenarios will be used to demonstrate the application of ethical principles in tax preparation and representation. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Learning Objectives
After attending this presentation, you will be able to...
- Assess the role of ethics in the tax preparation industry
- Analyze IRS rules and regulations as outlined in Circular 230
- Identify common ethical violations and the associated penalties
- Recall procedures that encourage compliance with ethical guidelines
- Apply ethical principles to real-life tax situations
- Analyze relevant provisions of Circular 230 applicable to tax return preparation and IRS representation
- Evaluate the impact of ethical behavior on professional reputation and compliance
- Develop strategies to prevent and address ethical violations in tax practice
Major Topics
The major topics that will be covered in this course include:
- Importance of ethics in tax practice
- Overview of Circular 230 and its application to tax practitioners
- Common ethical violations and penalties
- Procedures to promote compliance with ethical standards
- Real-life scenarios illustrating ethical decision-making in tax preparation
- Circular 230 provisions related to tax return preparation and representation
- Best practices for maintaining professional integrity and compliance
