Course Description
Many changes
have taken place for business professionals due to COVID-19. Most workplaces have
transitioned to fully remote operations, and there is an abundance of new rules
and regulations to navigate through. In these difficult times, accounting and
tax professionals must especially stay up to date on ethical practices and new
quality control procedures.
Circular 230 is where tax
practitioners have their main source of ethics. Oftentimes, practitioners can
inadvertently go astray from these rules. It is the document that contains – it
has a statute on the front cover and then the rest of it is those regulations
detailing a tax professional's duties and obligations while practicing before
the IRS. And it has several sections. It has sections regarding who can
practice before the IRS.
In this CPE Enrolled Agents webinar, you will learn the ins and outs
of Circular 230 and look at real-life examples of practitioners who violated
Circular 230.
Ethical issues
for tax practitioners typically arise from a conflict among the duties owed to
the client, to the system, and to yourself. When conflicts arise, it is
important to understand what standards will be used to judge your conduct.
This online course qualifies for Enrolled Agent's annual ethics. Speaker Nicholas Preusch will look at updates in the ethics world
for 2022 and how they will apply to tax practices.
Key topics discussed in this:
- Circular 230 Updates
- Due Diligence on Taxes
- Tax Quality Control
- Disciplinary Process
- Filing Your Own Returns
- False and Misleading Information
- Assisting Tax Fraud
- Practitioner Penalties
- IRC 7216
Learning Objectives
- To explain where to look for ethical tax guidance.
- To determine which parts of Circular 230 apply to your practice.
- To explore how to properly utilize due diligence in tax practice.
- To discuss how to limit your professional liability with the use of ethical procedures.
- To create a tax quality control document.
Recommended For
- This IRS-approved CPE webinar is recommended for Enrolled Agents
aiming to complete their regulatory ethics CPE requirements while updating
themselves with Circular 230.
