Addressing Conflicts of Interest and Errors on Tax Returns

Course Details

Date

Monday, November 18, 2019

6:30am – 8:30am
(Registration: 6:00am)

Field of Study

Taxation

Course Number

4193492B

CPE Credit

2.0 hours CPE credit

Level of Knowledge

Advanced

Vendor

CalCPA Education Foundation

Prerequisites

Tax practitioners with 2 years experience and a working knowledge of the AICPA Statements on Standards for Tax Services and IRS Circular 230.

Description

This advanced-level course dives into the rules regarding error discovery during tax return preparation. Learn about reporting requirements and advisement in these situations.

The discovery of errors in a taxpayer’s federal return during preparation or in an administrative proceeding and addressing conflicts of interest are among the most challenging issues for a tax professional. Understanding the professional standards and rules are of paramount importance in order to avoid a violation.

Highlights

  • Overview of the rules pertaining to the discovery of an error in a return either when rendering future preparation services or during representation in an administrative proceeding.
  • Discussion of the duty to ‘advise’ clients with regard to potential taxpayer penalties associated with the discovery of an error or omission.
  • Discussion of the Circular 230 requirements when a conflict of interest exists in an client engagement.
  • Circular 230 and the IRS Office of Professional Responsibility oversight and disciplinary authority.

Objectives

  • Recognize the various regulatory and professional requirements associated with discovery of errors and with conflict of interest issues that confront the tax practitioner.
  • Identify critical areas to be addressed in advising on discovery of an error, including required communications with the taxpayer and related engagement matters.
  • Recognize the need to document advice given when an error is discovered and the possible consequences documentation.
  • Recognize the need to monitor potential conflicts of interest and the steps necessary to determine if continued representation is feasible when an actual conflict exists.
  • Determine the required documentation when a conflict of interest exists.

Designed For

CPAs, EAs and tax preparers.

Registration for this course has passed.

Course Pricing

Member Fee

Applicable if you are a HSCPA member in good standing.

$60.00
Non-Member Fee

Applicable if you are not a HSCPA member.

$94.00
Your Price $94.00

CPE Choice

Learn more about CPE Choice.
This course does not qualify for CPE Choice.

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