What Every Tax Return Preparer Needs to Know: Key Circular 230 Provisions
Target Audience: CPAs, EAs
Field of Study: Ethics (NASBA and IRS)
Seminar Level: Beginner
IRS COMMUNICATIONS AND LIAISON IS REGISTERED WITH THE NATIONAL ASSOCIATION OF STATE BOARDS OF ACCOUNTANCY (NASBA) AS A SPONSOR OF CONTINUING PROFESSIONAL EDUCATION ON THE NATIONAL REGISTRY OF CPE SPONSORS. STATE BOARDS OF ACCOUNTANCY HAVE FINAL AUTHORITY ON THE ACCEPTANCE OF INDIVIDUAL COURSES FOR CPE CREDIT. COMPLAINTS REGARDING REGISTERED SPONSORS MAY BE SUBMITTED TO THE NATIONAL REGISTRY OF CPE SPONSORS THROUGH ITS WEBSITE: WWW.LEARNINGMARKET.ORG.
DISCLAIMER: THIS SEMINAR WAS FILMED IN NEW ORLEANS, LOUISIANA, ON AUGUST 13, 2013, AND THE INFORMATION WAS CORRECT AT THE TIME OF RECORDING.
The Office of Professional Responsibility (OPR) delivered this seminar at the 2013 IRS Nationwide Tax Forum.
This session will focus on the current key provisions governing the conduct of tax professionals when practicing before the IRS. These include the various due diligence obligations for preparing, signing and advising with respect to tax return positions; identifying and resolving conflicts of interest encountered in tax practice; unconscionable fees; and the prohibition on being paid from a taxpayer's refund. The session will explain each of the key provisions and provide examples of acceptable and unacceptable conduct.
By the end of this presentation you will be able to:
- List key provisions of Circular 230, including diligence to accuracy, due diligence standards for returns and reliance on client data
- Clarify OPR’s jurisdiction, as listed in 10.8 of Circular 230, over businesses which charge taxpayers to prepare all or a substantial portion of a document for submission to the IRS
- Detail provision 10.27 of Circular 230 which says tax return preparers cannot charge unconscionable fees and which lists contingency fee restrictions
- Explain proposed provision 10.35 of Circular 230 regarding competence
No prerequisites or advanced preparation are required for this seminar.