AICPA adopts revised tax standards

AICPA members should be aware that the AICPA has adopted revised Statements on Standards for Tax Services (SSTSs). The new standards are effective Jan. 1, 2024. The AICPA SSTSs serve as the ethical framework for tax professionals and are enforceable tax standards for AICPA members.

The revised SSTSs introduce a new structure to organize the standards by type of work performed. They also include three new standards on data protection (Section 1.3 of SSTS No. 1), reliance on tools (Section 1.4 of SSTS No. 1), and representation of clients before tax authorities (SSTS No. 4).

The existing interpretations and FAQs have also been updated to reflect the reorganization of the revised tax standards with updated citations.

The new SSTSs are available on the AICPA & CIMA website.