Confidentiality

CPAs and Privileged Communications

Even though the privilege has been traditionally reserved for attorneys, as the world has became more complex, the courts have expanded privilege beyond attorneys to include accountants in certain situations.

Current Tax Return Disclosure Issues Involving Sec. 7216

Practitioners face some difficult scenarios in properly disclosing or using client tax return information. Multiple professional ethics pronouncements and federal and state legislative and administrative pronouncements all must be considered before acting.

Transferring Client Data Securely

It is critical for CPAs to maintain control over the transfer of data to assure that their clients’ confidential information is not compromised.

AICPA Provides Guidance on FSA Certification Letters

Tthe AICPA has worked with the FSA to create a certification letter CPAs can use when their clients are asked to certify income and is providing its members with sample engagement and disclosure letters to be used in connection with providing a certification letter for clients.

Temp. Regs. Give Guidance on Return Preparer Information Disclosures

The Service released final and temporary regulations that govern the disclosure of a taxpayer’s Social Security number to overseas return preparers (T.D. 9409; REG-121698–08). Under the temporary regulations, such disclosure will be permitted in limited cases, with the taxpayer’s consent. Return preparers are generally forbidden to disclose a taxpayer’s Social

Sec. 7216 Regulations

The AICPA Tax Division has formed a task force to review the impact of final regulations released by Treasury and the IRS in January 2008, involving the disclosure and use of tax return information by tax return preparers under Sec. 7216.

Newsletter Articles

SPONSORED REPORT

Tax reform changes are now in effect

With all the recent tax law changes, this year it’s more important than ever to make sure your clients’ tax situations are squared away before year end. This report provides necessary guidance to ensure 2019 starts without a hitch.

DEDUCTIONS

Understanding the new Sec. 199A business income deduction

The new deduction allows certain business owners to keep pace with the significant corporate tax cut provided by the Tax Cuts and Jobs Act.