In the complex world of tax law, where the IRS processes over 200 million returns annually, the need for skilled tax professionals is paramount. However, with this complexity comes the challenge of adhering to ethical standards and regulations set forth by the IRS. Tax professionals often grapple with the intricacies of Treasury Department Circular No. 230, which delineates the ethical responsibilities of practitioners. Missteps in understanding or applying these rules can lead to serious professional consequences.
This ethics CPE course offers a comprehensive solution to these challenges. By examining the key aspects of Circular 230, participants gain in-depth knowledge about the scope of permissible responsibilities, best practices for IRS submissions, and standards related to tax return and document preparation. The CPE ethics course also navigates through real-world scenarios, enhancing participants' ability to tackle ethical dilemmas in their practice. By the end of this ethics CPE course, tax professionals will be well-versed in the duties and restrictions of their practice, understanding the sanctions for non-compliance and the standards for client interaction. This CPE ethics course is an invaluable guide to maintaining integrity and professionalism in the field of tax preparation.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Chapter 1
Recognize the scope of permitted tax return preparer responsibilities
Identify the best practices for tax advisers in preparing or assisting in the preparation of a submission to the IRS with respect to client communication, establishing relevant facts, providing client advice, and practice before the IRS
Recognize the standards related to tax return and document preparation as well as applicable standards for advising clients concerning potential penalties
Chapter 2
Recognize 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
Chapter 3
Define the terms censure, suspension, and disbarment as they apply to tax return preparers
Identify the various sanctions that may be imposed for a preparer's failure to comply with applicable conduct rules, noting their effect on practicing before the IRS
Note circumstances in which appropriate monetary sanctions may be imposed as well as monetary penalties that may be assessed
Note the types of conduct considered incompetent and disreputable
Major Topics
Tax Return Preparer Responsibilities
Practitioner Duties and Restrictions
Sanctions for Regulation Violations
