Practice Management & Professional Standards

Topics

May 1, 2017

Safeguarding confidential client information: AICPA and IRS guidance

This column offers practical items for tax professionals to consider as privacy best practices.

March 1, 2017

Protecting Electronic Data in an Unsecure World

Practitioners should consider taking small, actionable steps to secure data, rather than being overwhelmed by several big tasks.

February 1, 2017

Mistakes Were Made: Knowledge of Errors on Returns and What to Do About Them

While a tax practitioner and AICPA member has a duty to notify the client, the client is responsible for deciding whether to correct the error.

January 1, 2017

Pesky IRS Penalties: How to Get Them Abated for Clients

This item summarizes some common IRS penalties and the procedural and practical ways practitioners can obtain a penalty abatement.

January 1, 2017

Decision to Amend Ultimately Falls to the Client

Correcting a minor error that would result in only a small change in tax liability may be unjustifiable, given the cost involved.

December 15, 2016

Preparing and Filing Forms 1099 and W-2 in the Cloud Continues to Rise

Cloud-based preparation and filing reduces the burden and streamlines the overall process.

December 1, 2016

Keeping Virtual Tax Teams Connected

This column discusses the technology tools tax practice leaders are using to manage their virtual tax teams.

November 1, 2016

Ethics and Risk Issues in FBAR Preparation

A number of ethics and risk management issues must be considered when preparing and filing FinCEN Form 114.

November 1, 2016

Engagement Letters: Review Them Before It Is Too Late

Practitioners should consider taking a fresh look at
their tax engagement letter policy before the next busy season.

November 1, 2016

The ABCs of Form 1095

Understanding forms 1095-A and 1095-B can help in preparing clients’ individual income tax
returns and fulfilling their professional due-diligence responsibilities.

October 27, 2016

Phishing Scams Target Tax Professionals

A new scam takes the form of an email pretending to be from the practitioner’s tax software provider.

September 1, 2016

How to Add a New Specialty to Your Practice

By developing expertise in a new practice area, a CPA can increase income and become a more well-rounded professional.

August 25, 2016

Due-Diligence Hazards for Tax Practitioners: The List Keeps Growing

The director of the IRS’ Office of Professional Responsibility and veteran practitioners recently gave advice on how to steer clear of the dangers.

August 1, 2016

2016 Tax Software Survey

CPAs rated the tax preparation software they used in 2016 and how it handled common tasks.

August 1, 2016

The Client Tax Letter Project: Client Communication for Tax Professionals

Tax classes should teach students not only to navigate the Code but also to communicate their findings effectively through internal memos and client communications.

August 1, 2016

Form 2848: Ethical Issues for Tax Practitioners

This column discusses some of the rules regarding preparation of Form 2848 and addresses professional ethics issues that arise in dealing with the form.

August 1, 2016

CPAs Contend With Tax ID Theft

Tax-related identity theft fraud remains a widespread problem that is often difficult for victims and their tax preparers to correct.

August 1, 2016

Proposal Would Give Public More Information About Tax Expenditures

FASAB proposed a standard with the intention of providing the public more information about the U.S. government’s tax expenditures.

July 1, 2016

Why the AICPA SSTSs and IRS Circular 230 Should Be Added to CPAs’ Lists of Favorite Resources

These documents are as useful as a master tax guide or tax handbook and may ultimately save a CPA from time-consuming and costly
litigation or disciplinary proceedings.

June 1, 2016