Preparing clients for tax surprises: How to handle tax bills that clients cannot pay
CPAs can advise clients about several IRS programs for paying past-due taxes.
Client communications
Third-party verification requests
When CPAs are asked to provide comfort letters, they must be clear about facts they are affirming, giving careful consideration to client confidentiality and other liabilities that could arise from a lender’s reliance on those facts.
The Sec. 7525 privilege relating to taxpayer communications
CPAs can protect tax advice to clients from disclosure by understanding the scope of the Sec. 7525 practitioner-client privilege, when it applies, and what actions can cause a waiver of this key protection.
Managing client expectations for IRS refunds
This column discusses reasons for delayed refunds and actions practitioners can take when a client is experiencing a delay.
Form 8879: Requirements, possible problems, and best practices for practitioners
This item discusses practitioners' requirements and responsibilities surrounding electronic submission of clients’ tax returns.
Kicking off tax season with engagement letters and organizers
It may be beneficial to consider making changes to your engagement letters and organizers this season.
Using technology to assist with year-end tax planning
This column focuses on developing a year-end tax planning strategy by using technology.
Safeguarding confidential client information: AICPA and IRS guidance
This column offers practical items for tax professionals to consider as privacy best practices.
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.
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.
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.
Transparency for Individual Taxes
This article reviews how "taxpayer receipts" can help practitioners provide additional tax information to clients.
Tax Return Processes: The Intersection of Due Diligence and Quality Control
This column explores the interrelationship of ethical and practical considerations that start before client data come into the office and continue after the return is filed.
Preparing for the 2016 Filing Season
This year-end article offers a list of tasks to consider to get ready for the upcoming filing season.
Handling Last-Minute Changes for Clients: It Is Who We Are ... It Is What We Do ...
This column addresses the concerns of small CPA firms dealing with a business client base with assets of less than $10 million and the final regulations on tangible property or the "repair regulations."
Staying in Touch: A Year of Client Communications
Regular communication, via mailings, email, social media posts, blogs or token gifts, is the best way to strengthen long-term relationships with clients. This article features a timeline of events to use throughout the year to stay engaged with clients.
Advising Clients Regarding Erroneous Tax Return Positions: Part II
This article discusses what tax practitioners must do if their client fails to heed their advice whan an error is found on a tax return and what to do when the error is attributable to the tax practitioner’s own advice.
Advising Clients Regarding Erroneous Tax Return Positions: Part I
This article examines the two somewhat different versions of the rule on advising clients regarding erroneous tax return positions—one applied by the AICPA and the other by the IRS.
Concerns About CPA Letters to Third Parties
A CPA receives a request from a client to provide a letter to the client’s mortgage broker, lender, adoption agency, or other third party. Is there any harm in the CPA signing the client’s suggested letter or writing one of her own?
