In late July the AICPA tax executive committee approved as final eight Statements on Standards for Tax Services (SSTSs), which superseded and replaced Statements on Responsibilities in Tax Practice. (See “Standards for Tax Services Proposed,” JofA, June00, page 77.) Although the substance of the rules contained in each statement, as well as the title and the number, remain the same, the language has been edited to clarify and reflect the enforceable nature of these standards. (The AICPA council designated the tax executive committee as a standard-setting body in October 1999.)
Members are expected to comply with the new standards, and violations could subject members to an ethics investigation. The text of the eight SSTSs—as well as an interpretation of SSTS no. 1, Tax Return Positions, which was also approved by the committee in July—is reprinted in full in this issue (see Official Releases, page 139).