Ethics of Tax Return Preparation (2 hours) – Download

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This is a Self-Study / On-Demand event. In the event title, "Webcast" indicates the event has a self-paced webcast to view with the materials to complete the self-study. "Download" indicates the user downloads only the materials to complete the self-study.

Fees

Member Fee: $39.00
Nonmember Fee: $39.00

Available Discounts

AICPA Member: None
Full time Accounting Educator: None

Description

This two-hour course covers sanctions and limitations on both clients and practitioners arising out of the preparation of an income tax return.

Note: Beginning July 1, 2020, ALL active and inactive licensees are required to take an Oregon-specific ethics course to meet the CPE requirement for renewal. This means licensees renewing in 2021 and beyond will be affected by the rule change. This seminar will qualify for technical credit only beginning July 1, 2020.

Designed For

CPAs desiring to satisfy the general professional ethics requirement in all states except those that require a state-specific ethics course (AK, AZ, DE, FL, ID, LA, MS, NJ, NY, OH, SC, TN, TX, UT, VA, WA, WY)

Objectives

  • Identify who is a tax-return preparer and distinguish between a signing preparer and a non-signing return preparer
  • Describe the accuracy penalty applicable to taxpayers and the substantial-authority standard generally applicable, as well as the more-likely-than-not standard applicable to tax shelters
  • Quantify the tax-return-preparer penalty for an unreasonable tax position
  • Comply with the adequate disclosure of tax positions when required
  • State the sanctions the Service can apply for unethical conduct of a practitioner in connection with tax-return preparation

Major Subjects

  • What is the impact of the Emergency Economic Stabilization Act of 2008?
  • Who is a tax return preparer?
  • What is the difference between more-likely-than-not, substantial authority, realistic possibility, reasonable basis and a non-frivolous position?
  • What Internal Revenue Code penalty provisions associated with positions taken on an income tax return apply to taxpayers?
  • What Internal Revenue Code penalty provisions associated with positions taken on an income tax return apply to tax return preparers?
  • What ethical considerations come into play under Circular 230 in connection with the conduct of a tax practitioner in connection with positions taken on an income tax return?