Practice Management & Professional Standards

Topics

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

Starting a Tax Practice: Are You Ready to Hang a Shingle?

This column provides two experienced CPAs’ overview of some key factors to consider before venturing out to start your own practice.

May 26, 2016

Catching Up After the 2016 Filing Season

Because tax changes don’t take a vacation during filing season, this article helps practitioners keep up to date by summarizing tax developments for that period.

May 1, 2016

Tax Ethical and Penalty Issues in the UTP Context: A Review After Five Years of Experience

This column reviews the advent of Schedule UTP, considers the applicable ethical rules, and offers some best practice tips for practitioners.

April 14, 2016

Transparency for Individual Taxes

This article reviews how “taxpayer receipts” can help practitioners provide additional tax information to clients.

April 1, 2016

Power of Attorney and Declaration of Representative

Many practitioners find that the IRS does not process their Form 2848 filings and returns them because the form was prepared or filed incorrectly.

March 17, 2016

Work-Product Doctrine Protects Accountant’s Tax Advice

the Second Circuit held that the taxpayer did not waive the attorney-client privilege by sharing documents with a consortium of banks with which the taxpayer had a common legal interest.

March 1, 2016

Tax Season Business Development

Tax season presents an opportunity to interact with current and prospective clients at a time when interest in the firm and its services is at its peak.