CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

Tax Return Preparer Ethical Issues

Icon_Self-Study
Self-Study
Icon_Level
Basic
Credits
CPE Credits
2 Credits: Regulatory Ethics

Course Description

The Internal Revenue Service routinely processes more than 200 million tax returns each year, many of them prepared by tax professionals. Not surprisingly, as tax law becomes increasingly complex, taxpayers often seek out the knowledgeable assistance of attorneys, CPAs, enrolled agents, and other qualified tax return preparers. To help ensure such professionals understand their ethical responsibilities in representing their clients before the IRS and in preparing their tax returns, the IRS has published Treasury Department Circular No. 230. Circular 230 offers substantial guidance by setting forth rules relating to the authority to practice before the IRS, identifying the duties and restrictions relating to practice before the IRS, and prescribing sanctions for violating the regulations. This course will examine many of those rules, duties, and restrictions as well as the sanctions imposed for their violation. In that examination of applicable rules, the course will discuss the requirements imposed on tax return preparers and will present real-world scenarios focusing on specific ethical issues preparers may encounter in their professional activities.

Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Recognize the scope of permitted tax return preparer responsibilities
  • Identify the best practices for tax advisers in preparing or assisting in the preparation of a submission to the IRS with respect to client communication, establishing relevant facts, providing client advice, and practice before the IRS
  • Recognize the standards related to tax return and document preparation as well as applicable standards for advising clients concerning potential penalties

Chapter 2

  • Recognize practitioner duties and restrictions with respect to information to be furnished to the IRS; the practice of law; dealing with taxpayer omissions, errors and noncompliance with U.S. revenue laws; the requirement for preparer diligence as to accuracy; return of client records; the existence of conflicts of interest; and solicitation of business

Chapter 3

  • Define the terms censure, suspension, and disbarment as they apply to tax return preparers
  • Identify the various sanctions that may be imposed for a preparer’s failure to comply with applicable conduct rules, noting their effect on practicing before the IRS
  • Note circumstances in which appropriate monetary sanctions may be imposed as well as monetary penalties that may be assessed
  • Note the types of conduct considered incompetent and disreputable

Course Specifics

Course ID
4170637
Revision Date
May 29, 2020
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-E-01334-17-S
IRS Ethics Credits: 2
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1346
CTEC Ethics Credits: 2

Course Instructor

Paul J. Winn Headshot
Paul J. Winn CLU ChFC

Paul Winn CLU ChFC is a writer with more than 30 years experience in the life insurance and securities industry as an agent/registered representative, an agency head, a marketing vice president for a life insurance company and the president of a corporate registered investment adviser. He was a long serving member of the advisory board to the New York State insurance department. He is a published book author and creator of more than 200 taxation, insurance and securities training courses.

Tax Return Preparer Ethical Issues

Expert Instructors
Format
CPE CREDITS
2 Credits: Regulatory Ethics

$58.00$78.00

Clear
Icon_Self-Study
Self-Study
Icon_Level
Basic
Credits
CPE Credits
2 Credits: Regulatory Ethics

Course Description

The Internal Revenue Service routinely processes more than 200 million tax returns each year, many of them prepared by tax professionals. Not surprisingly, as tax law becomes increasingly complex, taxpayers often seek out the knowledgeable assistance of attorneys, CPAs, enrolled agents, and other qualified tax return preparers. To help ensure such professionals understand their ethical responsibilities in representing their clients before the IRS and in preparing their tax returns, the IRS has published Treasury Department Circular No. 230. Circular 230 offers substantial guidance by setting forth rules relating to the authority to practice before the IRS, identifying the duties and restrictions relating to practice before the IRS, and prescribing sanctions for violating the regulations. This course will examine many of those rules, duties, and restrictions as well as the sanctions imposed for their violation. In that examination of applicable rules, the course will discuss the requirements imposed on tax return preparers and will present real-world scenarios focusing on specific ethical issues preparers may encounter in their professional activities.

Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Recognize the scope of permitted tax return preparer responsibilities
  • Identify the best practices for tax advisers in preparing or assisting in the preparation of a submission to the IRS with respect to client communication, establishing relevant facts, providing client advice, and practice before the IRS
  • Recognize the standards related to tax return and document preparation as well as applicable standards for advising clients concerning potential penalties

Chapter 2

  • Recognize practitioner duties and restrictions with respect to information to be furnished to the IRS; the practice of law; dealing with taxpayer omissions, errors and noncompliance with U.S. revenue laws; the requirement for preparer diligence as to accuracy; return of client records; the existence of conflicts of interest; and solicitation of business

Chapter 3

  • Define the terms censure, suspension, and disbarment as they apply to tax return preparers
  • Identify the various sanctions that may be imposed for a preparer’s failure to comply with applicable conduct rules, noting their effect on practicing before the IRS
  • Note circumstances in which appropriate monetary sanctions may be imposed as well as monetary penalties that may be assessed
  • Note the types of conduct considered incompetent and disreputable

Course Specifics

Course ID
4170637
Revision Date
May 29, 2020
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-E-01334-17-S
IRS Ethics Credits: 2
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1346
CTEC Ethics Credits: 2

Course Instructor

Paul J. Winn Headshot
Paul J. Winn CLU ChFC

Paul Winn CLU ChFC is a writer with more than 30 years experience in the life insurance and securities industry as an agent/registered representative, an agency head, a marketing vice president for a life insurance company and the president of a corporate registered investment adviser. He was a long serving member of the advisory board to the New York State insurance department. He is a published book author and creator of more than 200 taxation, insurance and securities training courses.

Tax Return Preparer Ethical Issues

Expert Instructors
Format
CPE CREDITS
2 Credits: Regulatory Ethics

$58.00$78.00

Clear