Even small firms should have a conflict-of-interest policy in place because Circular 230 holds tax leaders within a firm responsible for establishing procedures that ensure firm members comply with the rules.
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Practice Management & Professional Standards
Show value, add value, and bring value: Part 2
After guiding clients through two years of struggle and turmoil, now is the time for CPA firms to build on those relationships by further highlighting the value proposition they provide.
Show value, add value, and bring value to your team
Firms can obtain exponential returns by involving staff in the development of the firm’s strategic mission and showing a commitment to their future professional success.
Best practices for engagement letters, POAs, and tax return extensions
This article discuss how and why to use engagement letters, choosing whether to represent a client via POA or tax information authorization, and the benefits of tax return extensions.
Integrating technology into accounting curriculum as CPA Exam evolves
Accounting education programs must evolve to incorporate technology requirements in alignment with the revised CPA Exam and the New Model for Licensure.
Keeping on top of tax changes
Members of the AICPA Tax Practice Management Committee share strategies for how they continue to keep clients, and themselves, up to date with the many tax law changes of the last several years and the many possibly to come in the near future.
Keeping client data secure: How’s your cybersecurity immunity?
This article discusses five things tax professionals can do to boost their security immunity.
Client, attorney, and preparer emails were protected from disclosure
Emails between client, attorney, and return preparer may be protected from disclosure under certain circumstances.
Taking back control with quality management
Upcoming revisions to the AICPA Statements on Standards for Tax Services may include standards for quality management in a tax practice. The SSTS Revision Task Force is seeking comments from stakeholders as it undertakes this project.
Automating indirect state and local tax compliance process
Companies should design and adopt a well-organized systematic approach that can identify candidates ripe for automation to streamline the indirect compliance process.
Working with cognitively impaired taxpayers
CPAs can take proactive steps to assist cognitively impaired clients in managing estate assets and tax responsibilities.
2021 tax software survey: Shares of respondents and product and company information
Bonus: The percentages for all 13 products, including a breakdown of their usage among firms ranked by ranges of numbers of preparers, in the 2021 tax software survey.
Practitioners’ role in the continuing evolution of Circular 230
Practitioners and the organizations they are involved with can participate in facilitating the ongoing applicability and effectiveness of Circular 230.
Correlating culture with retention in small accounting firms
Defining a practice’s culture and values early can help retain staff and avert a crisis.
2021 tax software survey
Our annual survey shows how CPAs rate the tax preparation software they used during this year’s tax season and how it handled retroactive tax law changes that happened during the season.
Risk mitigation best practices
CPAs can limit liability risks by carefully drafting engagement letters, avoiding giving informal advice, fully vetting new clients, assessing the firm’s
competence to handle clients’ issues, and maintaining appropriate data security practices.
Academic research for your practice consideration
Recent tax research papers focus on interactions practitioners have with clients on contentious issues; how state regulations affect the quality of preparers; the effect of addback statutes on corporate innovation; and how to mitigate the effect of the new GILTI.
A conversation on future-proofing CPA firms
The experts on the AICPA Tax Practice Management
Committee discuss the technology updates that helped their firms endure through COVID-19 and beyond.
Your federal tax privilege checklist
Tax practitioners can rely on several doctrines
to preserve the confidentiality of client communications, but they must follow appropriate
procedures and provide clear documentation to protect the privilege in IRS exams or legal proceedings.
Practical highlights of recent tax research
This article looks at recent academic research of interest to tax practitioners.
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.
