The Tax Practice Responsibilities Committee’s updated Guidelines on dealing with conflicts of interest depend on rules found in the AICPA’s Code of Professional Conduct and Treasury Circular 230.
Tax Practice Management
Firms must keep up with the IRS’s written data security plans to confront ever-increasing threats from hackers.
A well-organized post-busy season debrief meeting can help generate ideas for improving the firm’s processes through this critical period.
This article discusses methods and strategies for how a corporate tax department can move forward in its quest for tax function automation.
Last-minute requests during the rush of tax season can turn into an opportunity to court new clients.
The IRS launches fresh efforts to promote awareness of data security issues.
The IRS’s updated e-Services platform is intended to facilitate more efficient and cost-effective communications with practitioners.
Practitioners should consider resolutions on security, technology, and client service to prepare for the coming year.
This annual survey shows how CPAs rate the tax preparation software they used during last tax season and how it handled the recent tax law changes.
Firms can "wow" their clients by embracing tech tools that streamline many processes, including creating seamless onboarding, using e-signatures for engagement letters, and automating procedures for filling out annual checklists.
Social media and cloud computing create more challenges for CPAs to protect client information from unauthorized disclosures and to avoid making false or misleading claims about their services — violations that could even be buried in webpage metadata.
Taxpayers can rely on either the proposed or final Sec. 199A regulations for 2018, and CPAs must evaluate which would be most beneficial for each client.
By using the summer to go through the process of reflecting, rebooting, and reengaging, CPAs can find ways to better serve clients, especially with a year of experience in the TCJA’s tax reforms under their belts.
A formal mentoring program can play a key role in the development of future leaders.
A substantial-authority scorecard and example for excluding Sec. 1202 gain for a carried partnership interest
Keeping a “scorecard” of the weight of authorities on a particular position can be helpful to determine the objective merits of a tax position.
CPAs can reassure an unsettled client base by confidently providing coherent explanations and advice relating to the many changes brought about by last year’s tax reform legislation.
A well-drafted engagement letter can prevent a misunderstanding with a client over the scope of services from turning into an expensive liability claim.
CPAs can advise clients about several IRS programs for paying past-due taxes.
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.
To get through the rigors of tax season, CPAs depend on their tax preparation software. Here’s how they rate the leading professional products.