Practice Management & Professional Standards
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.
Emails between client, attorney, and return preparer may be protected from disclosure under certain circumstances.
CPAs can take proactive steps to assist cognitively impaired clients in managing estate assets and tax responsibilities.
Companies should design and adopt a well-organized systematic approach that can identify candidates ripe for automation to streamline the indirect compliance process.
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.
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.
Defining a practice’s culture and values early can help retain staff and avert a crisis.
Practitioners and the organizations they are involved with can participate in facilitating the ongoing applicability and effectiveness of Circular 230.
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.
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.
The experts on the AICPA Tax Practice Management
Committee discuss the technology updates that helped their firms endure through COVID-19 and beyond.
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.
Small firms improvise to maintain productivity while
keeping employees and clients safe from COVID-19.
This article looks at recent academic research of interest to tax practitioners.
The shift to a more virtual business environment has been accelerated by the COVID-19 pandemic. Firms must be mindful of this evolving business model as they explore new methods for building up client relationships.
After a year of many changes, this tax season looks very different. The AICPA wants to hear your feedback about this tax season so it can better support the profession.
To alleviate hardships caused by COVID-19, the IRS temporarily expanded the forms that can be filed with e-signatures, but future policy is uncertain.
Students’ future success will depend on learning routines for staying current with constantly changing tax laws, accounting standards, business practices, and technology.
Congressional action could simplify the business landscape for interstate workforce models that have expanded sharply due to stay-at-home orders isssued to fight the COVID-19 pandemic.
This article focuses on the role of family CPAs in IRS collection matters.