Whether to amend a return
While taxpayers have no duty to correct an error or omission in a filed return, practitioners must inform them of the consequences.
Tax ethics and standards
Due-diligence hazards for tax practitioners: The list keeps growing
From rental property expenses to worker classification to offers in compromise, the list of areas where tax practitioners must exercise due diligence keeps growing.
Exercising due diligence
By providing documented due diligence, practitioners can explain why they took the position and show they used reasonable care when determining the position was appropriate.
List of designated private delivery services is updated, postmark rules revised
For the first time since 2004, the IRS has updated the list of private delivery services (PDSs) that qualify under the mailbox rule of Sec. 7502.
10 situations when a CPA should call “timeout”
This article highlights situations when a tax accountant needs to recognize that it’s time to call in legal counsel.
Treasury will not have to tell PTIN holders that they are under investigation
The new rules aim to prevent PTIN holders who are under investigation from learning that they have been identified as suspects or are the subject of an investigation.
AICPA’s revised confidentiality rule and Sec. 7216
The recently revised AICPA Code of Professional Conduct includes a new Confidential Client Information Rule under Section 1.700.001, which expands the guidance on maintaining the confidentiality of client information.
AICPA provides feedback on tax reform proposals
The AICPA urged Rep. Paul Ryan, the new chair of the House Ways and Means Committee, to follow the AICPA’s principles of good tax policy to guide tax reform.
TIGTA: Process for complaints against preparers is too slow
The Treasury Inspector General for Tax Administration said in Rep’t No. 2014-40-056 that its audit indicated the IRS does not timely process complaints it receives against tax return preparers.
AICPA identifies problems with IRS’s electronic signature rules
Verification through records checks and authentication questions may risk clients’ data security and be impractical for some.
AICPA sues IRS to stop return preparer program
An unenrolled preparer program is an “end run” around an adverse court decision, the Institute says. The AICPA filed suit in the U.S. District Court for the District of Columbia in July, asking the court to halt the IRS’s recently introduced Annual Filing Season Program. The AICPA’s three-count complaint asks
IRS explains power-of-attorney requirements for corporate taxpayers
On Tuesday, the IRS’s Office of Professional Responsibility (OPR) issued a bulletin clarifying when corporate officers or employees must have a valid power of attorney in order to represent the company before the IRS (OPR Bulletin 2014-12). The bulletin also discusses how the existence of a power of attorney may
CPA practitioners sue to stop PTIN fees
Two CPAs have filed suit in the U.S. district court for the District of Columbia, asking the court to stop the IRS from charging fees for issuing preparer tax identification numbers (PTINs), to obtain refunds of fees paid in the past, and to enjoin the IRS from asking for more
IRS introduces voluntary certification program for tax preparers
After failing to win court approval for its mandatory tax return preparer regulation program, the IRS introduced a voluntary certification program to take its place.
AICPA sues IRS to stop return preparer program
The AICPA filed suit in the U.S. District Court for the District of Columbia on Tuesday, asking the court to halt the IRS’s recently introduced Annual Filing Season Program. The AICPA’s three-count complaint asks the court to declare the rule implementing the program unlawful and stop its operation. The Annual
Complete rules for the IRS’s voluntary return preparer certification program are released
On Monday, the IRS published guidance introducing its new, voluntary Annual Filing Season Program, which permits tax preparers who are not CPAs, attorneys, or enrolled agents to complete tax education requirements and receive a certificate, called a Record of Completion (Rev. Proc. 2104-42). (For prior coverage, see “IRS Reveals Details
IRS reveals details of voluntary preparer certification program
On Thursday, the IRS announced that it will soon introduce a voluntary program for tax return preparers called the Annual Filing Season Program (IR-2014-75). This program will permit return preparers to obtain a record of completion when they voluntarily complete 18 hours of continuing education, including a six-hour refresher course
AICPA reiterates its strong concerns about IRS voluntary certification program
The AICPA on Tuesday sent a 14-page letter to the IRS, expressing its strong concerns that a proposed IRS voluntary certification program for unenrolled tax return preparers “would cause significant legal problems that may ultimately frustrate the IRS’s goals, confuse the public, and lead to litigation.” The IRS is expected
New rules for providing written tax advice are finalized
The IRS issued final regulations under Circular 230, Regulations Governing Practice Before the Internal Revenue Service (31 C.F.R. Part 10), on the rules for practitioners to provide written tax advice and certain other related provisions (T.D. 9668), adopting the proposed regulations (REG-138367-06) issued in September 2012 with some modifications. The
Practitioners suspended or disbarred from practice before the IRS can prepare tax returns
The IRS has decided that, as a result of the recent decision preventing it from regulating unenrolled tax return preparers, disbarment or suspension from practice before the IRS cannot include a ban on tax return preparation or blocking an individual’s preparer tax identification number (PTIN). Therefore, the Service announced that
