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.
Tax Practice Management
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.
2018 tax software survey
To get through the rigors of tax season, CPAs depend on their tax preparation software. Here’s how they rate the leading professional products.
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.
IRS warns small businesses about tax return identity theft
The IRS urged small businesses to be wary of a growing amount of identity theft attempts aimed at employers and small businesses in general, and partnerships and trusts and estates.
Stellar tax professionals: How to recruit, retain, and develop them
Create and retain an all-star staff by selling the firm as a gateway to future success and providing development opportunities.
Best practices for firms to promote a culture of ‘due professional care’
A TPQC document plays a key role in helping a firm comply with relevant ethical requirements and promote an efficient and effective tax practice.
Requests by IRS and state departments of revenue for electronic accounting software records of taxpayers
The IRS has answered some concerns about taxpayers’ electronic accounting records.
Reporting publicly traded partnership Sec. 751 ordinary income and other challenges
Publicly traded partnerships can present challenges for reporting.
Preparing to work indirectly with the cannabis industry
As more states legalize marijuana, CPAs should consider not only whether to take on clients directly involved but also how to counsel clients whose own businesses are involved in the industry.
Ethics rule would require CPAs to discuss suspected illegal acts with clients
This column addresses how this new rule may impact CPA tax practitioners providing services outside the scope of an audit or to a nonaudit client.
Form 8879: Requirements, possible problems, and best practices for practitioners
This item discusses practitioners' requirements and responsibilities surrounding electronic submission of clients’ tax returns.
Transcript of account issued by the IRS
When a transcript is obtained, it is important to know the meaning of transaction codes.
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.
2017 tax software survey
This article offers a look at how CPAs judged their tax preparation software in a wide range of types of practices.
Considering whether to file an income tax extension
Extensions can help in avoiding mistakes and determining that all appropriate forms are included with a return.
Tax season is over (or is it?): Now what?
This column presents a few thoughts to consider before taking summer vacation.
Safeguarding confidential client information: AICPA and IRS guidance
This column offers practical items for tax professionals to consider as privacy best practices.
