Circular 230 forbids federal tax practitioners from having conflicts of interest, defined as representation of one client that is directly adverse to that of another client, or representing a client in circumstances creating a significant risk that the representation of one or more clients will be materially limited by the practitioner’s responsibilities to another client, a former client, or a third person or by a personal interest of the practitioner.
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Practice Management & Professional Standards
2011 Tax Research Service Survey
Thousands of readers responded to the annual tax software survey, and for the first time this year they revealed what they like and dislike about their tax research services.
Incorporating the Statement on Responsibilities in Personal Financial Planning into a Tax Practice
This column explains the Statement on Responsibilities in Personal Financial Planning Practice, issued by the AICPA’s PFP Executive Committee, and discusses how practitioners can use it to help clients with personal financial planning.
Codification of Economic Substance Affects All Tax Practitioners
This column discusses uncertainty surrounding the codification of the economic substance doctrine and explores selected areas of impact on CPAs’ professional obligations and practice.
2011 Tax Software Survey
This article presents results from the 2011 tax software survey. More than 10,000 CPAs assessed tax prepartion products and provided detailed information about what they liked and disliked about their tax software.
Building Value Through Sustainability
The authors describe a company that formed a sustainability committee in 2008 to monitor the various initiatives taking place around five pillars identified as important to the firm: people, clients, community, profession, and environment.
Tax Practice Responsibilities
This new quarterly column addresses the tax practice responsibilities part of CPA tax professionals’ practice and provides information that will enable practitioners to become better informed about and meet their legal, regulatory, and ethical responsibilities as professionals.
The AICPA Website: A Wonderful Tool for Practitioners
This column examines changes in the AICPA website and reviews many of the site’s features, including access to the latest information on hot topics, legislative initiatives, tax-saving techniques, and updates on the ever-widening range of issues, perils, pitfalls, and opportunities facing the profession.
AICPA Launches Multiyear Campaign Promoting CPAs as the Premier Providers of Tax Services
The AICPA has mobilized a multiyear campaign to reduce consumer confusion about the difference between CPA providers of tax services and tax preparers
Record Retention Policies: How Long Is Long Enough?
In advising clients on retention policies, the concern is often with keeping records too long, and because of the cost and logistical issues related to record retention, many taxpayers want to destroy outdated records as soon as possible. However, holding onto records can be beneficial, as illustrated by a recent case.
Tax Professionals: Making the Difference
The importance of business development to tax professionals.
Do We Really Have Privilege?
This item discusses the limits of the privilege for communications between a tax practitioner and client under Sec. 7525.
Tax Return Due Diligence: Basic Considerations
This article examines the rules of due diligence and the importance of tax professionals understanding these rules and proactively adapting to them in a practical manner.
CPA Conflicts of Interest
Avoiding conflicts of interest requires CPAs to aggressively identify potential conflicts and take appropriate remedial action.
2010 Tax Software Survey
The Tax Adviser and the Journal of Accountancy conducted a survey of AICPA members who prepared 2009 tax returns for a fee to determine which tax preparation software products were the most popular, what aspects of those products preparers liked, and what they disliked.
On the Bookshelf
Books of interest to tax practitioners.
Time to Start Planning for the 2011 Tax Filing Season
Although it is only May 2010, CPA firms need to begin planning for the 2011 tax filing season. There are significant issues on the horizon, including the pending requirement for all preparers to obtain a preparer tax identification number (PTIN), the e-file mandate for tax return preparers filing individual tax returns, and the continuing phase-in of the modernized e-file platform for individual returns.
IRS Issues Regs. and Guidance on Disclosure of Tax Return Information
The IRS has issued regulations under Sec. 7216 that increase the circumstances in which tax return preparers can disclose or use certain limited tax return information and two revenue rulings that provide guidance to tax return preparers on situations in which they will not be liable for civil or criminal penalties under Sec. 7216 for disclosing or using tax return information.
The Smartphone: The Tax Practitioner’s Portable Office
Practioners can work more efficiently through mobile access to an office with a smartphone.
AICPA Tax Standards Strengthened
Revised AICPA statements on standards for Tax Services (SSTS) became effective on January 1, 2010, and provide high, enforceable ethical responsibilities for CPAs in providing tax services.
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.
