Avoiding Tax Malpractice
Identify topics related to allegations of malpractice committed by tax professionals and review risk management techniques.
We do not like to think about it but inherent in every rendered service by a tax professional is the risk that a client may assert the practitioner is guilty of malpractice or a client feels misled by advisers who are allegedly unethical or incompetent. Explore the various reasons for this and learn techniques and procedures to minimize the risk, including effective client communication skills, tools to protect yourself from malpractice exposure and more.
- Technical definitions of tax malpractice.
- Risk management techniques: engagement letters, quality control procedures and maintaining professional competence.
- Aggressive tax strategies.
- "War stories" dealing with tax-related claims against CPAs.
- Insurance carrier experiences.
- Substantive tax areas: tax-deferred exchanges, built-in gains, alternative minimum tax and overlooked tax elections.
- Identify topics related to allegations of malpractice committed by tax professionals.
- Determine how to recognize high-risk engagements.
- Recognize relevant ethical considerations.
- Identify tools for insulating yourself from malpractice exposure.
- Determine appropriate loss prevention procedures.
- Determine effective communication with clients regarding objectives and expectations.
CPAs, practitioners and attorneys.
Applicable if you are a HSCPA member in good standing.
Applicable if you are not a HSCPA member.