This article examines the rules and definitions that form the basis for the practitioner-client and the work product privileges and identifies certain measures that can increase the protection of sensitive client information.
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Practice Management & Professional Standards
IRS Updates Sec. 7216 Guidance on Disclosing Tax Return Information
The IRS took additional steps to protect taxpayer information with the December release of final regulations under Sec. 7216. The IRS also released guidance to tax return preparers about the format and content of taxpayer consents.
Firing Clients Can Be Good for Business
There are a variety of reasons that clients should be asked to leave the firm. The average CPA can follow certain steps to recognize these situations and take appropriate action.
Background and Methods of Integrative Tax Practice
CPAs must assess the methods, skills, and tools needed for family practice to better integrate clients’ most important personal finance concerns.
Rules on Use, Disclosure of Taxpayer Information Finalized
The IRS issued final regulations under Sec. 7216 that govern the circumstances in which tax return preparers can disclose or use certain limited tax return information.
IRS Postpones Effective Date of New Procedures for Consents to Disclose
The IRS Rev. delayed the date that taxpayer consents to disclose and consents to use tax return information must contain the mandatory language recently issued in Rev. Proc. 2013-14.
Establishing an Ethical Culture in a Tax Practice
This column offers practical suggestions for ways a professional firm can communicate, reinforce, and monitor its code of conduct in tax practice.
Mandatory Language for Consents to Disclose, Use Taxpayer Information Modified
The IRS has provided guidance to tax return preparers about the format and content of taxpayer consents to disclose and consents to use tax return information and modified the mandatory language required on each taxpayer consent.
Rules on Use, Disclosure of Taxpayer Information Finalized
The IRS issued final regulations under Sec. 7216 that govern the circumstances in which tax return preparers can disclose or use certain limited tax return information.
Transferring Client Data Securely
It is critical for CPAs to maintain control over the transfer of data to assure that their clients’ confidential information is not compromised.
Tax Practice Quality Control
Practitioners should consider implementing a tax practice quality-control system.
Setting Up Firm Procedures to Fight Identity Theft
Ways tax professionals can help combat identity theft and educate their clients.
Helping Associates Achieve Work/Life Balance
This column outlines suggestions for helping a firm’s associates achieve a work/life balance that is appropriate for them.
AICPA Provides Guidance on FSA Certification Letters
Tthe AICPA has worked with the FSA to create a certification letter CPAs can use when their clients are asked to certify income and is providing its members with sample engagement and disclosure letters to be used in connection with providing a certification letter for clients.
2012 Tax Software Survey
More than 6,000 CPAs assessed the software they used to prepare 2011 tax returns, revealing what they liked and disliked about their software.
Circular 230, Section 10.21, and SSTS No. 6: Standards Relating to Taxpayer Errors and Omissions
Circular 230 SSTS No. 6 impose standards of conduct on CPAs who discover an error or omission in a prior-year tax return.
How to Start a Firm
Generally the trend in the profession has been the consolidation of firms to gain economies of scale and spread of overhead, but now may be a great time to start a firm and experience the benefits and burdens that derive from being an owner.
Interpretations of SSTS No.1, Tax Return Positions
Recently issued revised and updated interpretations of the AICPA’s SSTS No.1, Tax Return Positions, provide guidance to practitioners on tax reporting standards when recommending return positions or preparing or signing returns.
Due Diligence Update
This column discusses the tax professional’s due-diligence obligations under SSTS No. 3 and Circular 230.
Ethical Considerations in Reporting Use Taxes on State Income Tax Returns
As more states allow residents to report a liability for state use taxes on their individual income tax returns, practitioners will have to explain to clients their obligations in reporting use tax liability and address the professional standards for reporting use tax on a state income tax return.
TAX PRACTICE MANAGEMENT
2025 tax software survey
AICPA members in tax practice assess how their return preparation software performed during tax season and offer insights into their procedures.
