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.
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Practice Management & Professional Standards
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 Season Resources Available from AICPA
The AICPA has released its annual tax season resources for CPAs.
Revised Statements on Standards for Tax Services
The AICPA has released revised Statements on Standards for Tax Services (SSTS), effective January 1, 2010. The SSTS are enforceable standards of tax practice issued by the AICPA’s Tax Executive Committee (TEC).
Practice Continuation Agreements for Sole Practitioners
Too few sole practitioners have a plan in place to address a situation in which they may become unable to operate the practice due to disability or death.
2009 Tax Software Survey
The Tax Adviser and the Journal of Accountancy conducted a survey of their readers to determine what aspects of their tax preparation software they like and what they dislike.
Client Data Security for the Tax Practitioner
This column takes a brief look at some practices CPAs should consider when handling data security.
Tax Practice Quality Control Guide
The AICPA has provided substantial guidance to practitioners over the years on quality control as well as guidance regarding tax practice reviews, which are an integral part of the quality control process. It is important that all members of the firm (partners and employees) understand the firm’s commitment to the process.
Why and How to Conduct a Tax Practice Inspection
A firm can use a tax practice inspection as a tool to test the quality of tax services provided to clients, to develop specific recommendations for improvement, and to prepare or update a tax services policies and procedures manual.
New Tax Preparer Rules for Disclosure and Use of Return Information
The IRS released final regulations under Sec. 7216, providing guidance for tax return preparers about the disclosure or use of tax return information.
Preview and Analysis of Proposed Statements on Standards for Tax Services
The AICPA’s Tax Executive Committee released an exposure draft of proposed Statements for Tax Services (SSTS Nos. 1-7) on November 26, 2008.
Retaining Key Employees in a Tough Economic Environment
Employee retention has long been an issue in public accounting. Firms across the country are implementing unique as well as time-tested strategies to deal with this concern.
New Regs. Govern Overseas Disclosure and Use of Taxpayer Information
The IRS issued final regulations under Sec. 7216 to update the existing rules to address current tax industry practices, such as electronic preparation and filing, expanded tax and nontax service offerings, and resource sharing across national borders.
AICPA Exposes SSTS Draft
On November 26, the AICPA’s Tax Executive Committee exposed for review draft revised Statements on Standards for Tax Services (SSTS).
Questions to Include in Individual Tax Organizers
To help clients avoid possible penalties and sanctions, practitioners should ensure that the following questions are included in their customized tax software organizers for individual clients for the upcoming filing season.
Communicating with Clients in Difficult Times
The trusted, knowledgeable adviser must be proactive. Clients trust their CPAs and the advice, information, and education they provide.
Record Retention
Every firm should have a record retention policy and should have its legal counsel review this policy to make sure that all legal areas are covered. The policy should spell out what records should be kept and for how long.
A Case for Adding Personal Financial Planning Services to a CPA Practice
This column explores why CPAs make excellent PFPs, why CPAs move into financial planning, how successful CPA/PFPs have made the move, and some of the challenges they face.
Disclosure Under the Preparer Penalty Prop. Regs.
Editor: Lorin D. Luchs, CPA, J.D., LL.M. On June 16, 2008, the IRS issued proposed regulations (REG-129243-07) on tax return preparer penalty standards that it hopes to have finalized by the end of the year. The proposed regulations amend existing regulations to take into account the provisions in the Small
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.
