Supports Taxpayer Confidentiality Legislation


The survey about confidentiality legislation for CPAs, "Taxpayers Want Confidentiality" (JofA, July98, page 56), prepared by the National Taxpayers Union, neatly summarizes what all of us instinctively know about the privacy that individuals and companies want and deserve regarding financial affairs and tax planning.

Query: If confidentiality is paramount to 72% of the clients of the CPA firms surveyed, what would these clients say about a state board of accountancy's "fishing expeditions" through unrelated client tax files, looking for negligent tax advice or situations "where a CPA is in collusion with clients to avoid taxes"—as one board argued, in a recent state supreme court case, was its right.

Even the AICPA peer review process that might see documentation of tax advice as part of tax accrual workpapers could conceivably pose the same question.

Frank M. Zaveral, CPA
Denver

SPONSORED REPORT

Solving the lease accounting challenge

The challenges of the new lease accounting standard have been pervasive to say the least. In this free, independently-written report, you'll learn effective adoption strategies as well as resources for easing the transition to the new standard.

FEATURE

Tackling TCJA changes this tax season

Return preparers must be ready for how the Tax Cuts and Jobs Act has modified many common features of individual and business returns.