State and Federal Ethics Considerations

Description

Discover recent developments related to tax return preparation and representation, while learning about the rules of professional conduct set forth by the AICPA and the California Board of Accountancy.

Gain a basic understanding of the rules and regulations that govern tax practice for both federal and state purposes. Examine the rules of practice before the IRS (Treasury Dept. Circular 230) and explore current developments related to applicable tax practice penalties.

Learn how ethical principles, like conflicts of interest, apply to the partnership and other flow-through entities. Plus, determine how various states regulate tax practice which includes a discussion on malpractice. Concepts learned apply to real-world scenarios that practitioners face.

Highlights

• Federal and state standards of tax practice
• Return preparer registration (state and federal)
• State and federal penalties that apply to tax practice
• Conflicts of interests related to flow through entities
• Due Diligence under the TCJA
• Application of taxpayer privileges in tax practice
• Developments on regulation of tax practice

Objectives

• Identify the various federal and state rules that govern tax return preparation and representation.
• Determine rules governing return preparer registration at both state and federal level.
• Recognize the expanded tax reporting rules at both the federal and state levels.
• Identify which documents must be presented to the state tax authorities.
• Determine state privileges (attorney/client privilege, tax preparer/client privilege and work product doctrine).
• Identify recent developments regarding confidentiality and conflicts of interest.
• Discussion of ethical considerations related to the new markets for selling/distributing marijuana.

Designed For

Attorneys, CPAs, EAs and tax return preparers.