Practice Management & Professional Standards

Topics

February 1, 2019

Addressing risks related to the TCJA and Wayfair

In this Q&A, experts discuss the challenges CPA firms face from these developments and the steps they can take to mitigate professional liability risk.

November 1, 2018

Small firm engagement letters

Engagement letters provide a critical line of defense against scope-of-service liability claims.

September 1, 2018

Mitigating risk related to tax reform

While tax planning opportunities associated with the law may be a windfall to a CPA firm’s bottom line, vulnerability to professional liability claims exists.

August 1, 2018

2018 tax software survey: Individual product survey responses

Online-only: Contact information, basic packages and their features are shown below for the top seven products in the survey.

August 1, 2018

Client communications protected by Sec. 7525

Knowing when this key protection does not apply is just as important for tax practitioners as knowing when it does.

July 10, 2018

Tax practitioners are warned to safeguard client data

The IRS warned that it is increasingly difficult for it to recognize fraudulent tax returns as cybercriminals succeed in getting more and more accurate information.

June 12, 2018

How tax reform is impacting tax practitioners

Tax practitioners usually get to enjoy some down time during the summer. But this year summer may be a little more hectic than usual thanks to the changes brought about by tax reform.

June 1, 2018

Retaining stellar tax professionals

Retain an all-star staff by providing employees exceptional on-the-job experiences.

May 7, 2018

Future-proof your tax practice by adding planning services

Consumers are seeking a primary point of contact to address the full scope of their financial needs.

May 1, 2018

Establishing quality control in a tax practice

Every firm should maintain a system for communicating best practices to partners and staff.

August 22, 2017

What CPAs need to know about their tax software

In this episode, “The Tax Adviser” Editor-In-Chief Alistair Nevius explains what we can learn from this year’s tax software survey.

August 1, 2017

The war on tax ID theft continues: CPAs’ role

The IRS reports progress, but many firms could still improve their practices.

July 1, 2017

Driver’s licenses pose new data security risks

Tax practice clients’ personal information requiring protection now often includes driver’s license numbers.

June 1, 2017

Planning to mitigate risk in tax planning engagements

A professional liability claim may occur if a client’s expectation and the results of the tax services do not coincide.

May 1, 2017

Tax principles for the digital age

The AICPA revises its Guiding Principles of Good Tax Policy to respond to challenges in tax reform, economic efficiency, global reach, and securing taxpayers’ information.

February 1, 2017

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.

October 1, 2016

Keeping clients’ tax data secure

Here’s how preparers can help thwart identity thieves.

September 2, 2016

New cyberattacks threaten tax professionals

A new wave of cyberattacks could allow criminals to take control of tax practitioners’ computers and file fraudulent returns.

August 25, 2016

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.

August 1, 2016

CPAs contend with tax ID theft

A majority of CPAs surveyed say this scourge affects their practices and is often difficult to resolve.

FROM THIS MONTH'S ISSUE

AI risks CPAs should know

Are you ready for the AI revolution in accounting? This JofA Technology Q&A article explores the top risks CPAs face—from hallucinations to deepfakes—and ways to mitigate them.