Search Results

Professional Standards and Ethics

Sort by: Show:

Page 1 | 2 | 3

1. Shulman: 'Big Shift' Possible in Preparer Standards, But No Details Yet

October 2009 | Article

IRS Commissioner Douglas Shulman discussed return preparer standards, enforcement in a globalized economy and a new IRS initiative focused on highwealth individuals’ tax compliance during a speech to the AICPA’s National Tax Conference in Washington on Monday. Return Preparer Oversight In June, Shulman announced during a hearing of the House Ways and Means Oversight Subcommittee that the IRS would review its supervision of tax return preparers.

2. The IRS Whistleblower Program: What CPAs Should Know

August 2009 | BY BRIAN H. MAHANY | Article

Since Congress amended IRC § 7623 in 2006, the IRS’ new Whistleblower Office has seen significant interest from potential informants with tips about multimilliondollar cases of tax noncompliance. In the first 12 months after it was established in February 2007, the Whistleblower Office received 116 reports of underpayments of more than $2 million each.

3. Line Items

August 2009 | Article

IRS to Recommend New Tax Preparer Standards The IRS plans before the end of the year to recommend new standards for tax preparers, Commissioner Doug Shulman announced June 5. In testimony before the House Ways and Means Oversight Subcommittee and in a news release, Shulman said he would propose to the White House and Treasury Department a comprehensive set of recommendations with the goals of ensuring high ethical standards of conduct for tax preparers and greater taxpayer compliance.

4. IRS Sets Procedures for Tax Return Preparer Penalties

June 2009 | BY Eve Elgin | Article

The IRS has issued internal memoranda setting forth procedures for consideration of tax return preparer penalties in taxpayer examinations. A memorandum by the Large and MidSize Business Division (LMSB) describes procedures for tax return preparer penalty cases, and two audit technique guideline memos by the Small BusinessSelfEmployed Division (SBSE) explain similar procedures for excise and employment tax examinations.

5. Strengthening Tax Services' Foundation

May 2009 | BY GERALD H. SCHREIBER JR. | Article

The AICPA’s Statements on Standards for Tax Services (SSTSs) have been updated, clarified and streamlined in proposed revisions now available for study and comment by AICPA members. They can be found on the Tax Division pages of the AICPA Web site at tinyurl.com5be2rk. The SSTSs are enforceable rules of conduct for AICPA members, in conjunction with the AICPA’s Code of Professional Conduct Rule 201, General Standards, and Rule 202, Compliance With Standards.

6. Concerns About CPA Letters to Third Parties

March 2009 | BY Barton Black | Article

A CPA receives a request from a client to provide a letter to the client’s mortgage broker, lender, adoption agency, or other third party. The request seems simple enough and harmless. All the client asks is that the CPA verify that this is her client, that she has been preparing the client’s income tax returns, and that the client is employed by a particular employer or is selfemployed.

7. Comments Sought on Revised Statements on Standards for Tax Services

January 2009 | Article

The AICPA released for comment an exposure draft of proposed revisions to Statements on Standards for Tax Services (SSTS). The revisions are intended to address changes in federal and state tax laws and new requirements for providing certain types of tax opinions. SSTS no. 1, Tax Return Positions, has been updated to clarify tax return reporting requirements for preparers.

8. Accountant Workpaper Privilege Upheld by First Circuit

January 2009 | Article

The U.S. Court of Appeals for the First Circuit on Wednesday upheld a U.S. District Court decision that the workproduct privilege applies to certain accountant workpapers (Textron Inc., No. 072631 (1st Cir. 12109)), affirming in part, vacating in part, and remanding 507 F. Supp. 2d 138 (D.R.I. 2007).

9. IRS Issues Final Preparer Penalty Regs

January 2009 | BY James A. Beavers | Article

Editor's note This article appears in the February 2009 issue of The Tax Adviser, the AICPA's monthly journal of tax planning, trends and techniques. The IRS issued final regulations (T.D. 9436) implementing the changes to the Sec. 6694 tax return preparer penalties made by the Small Business and Work Opportunity Tax Act of 2007, P.L.

10. 2008 In Review: Congressional Impact on CPA Profession

December 2008 | BY Lisa M. Dinackus | Article

The AICPA enjoyed three legislative victories in Congress this year equalizing IRS reporting standards for taxpayers and preparers, preventing the Farm Credit System from expanding its pool of borrowers, and maintaining financial and compliance audits for the governmentbacked Federal Housing Administration (FHA) loan program. SUBSTANTIAL AUTHORITY SIGNED INTO LAW OCT.