In this webinar, we will discuss sources and standards of tax ethics and best practices to ensure compliance and avoid penalties. In reviewing the requirements of Circular 230, the AICPA Statements on Standards for Tax Services, and the AICPA Code of Professional Conduct, we will touch on common practice issues including what standards must be met to take a position on a tax return, when you can omit an answer to a question on a tax return, when you must verify information provided by a taxpayer or third party, the use of estimates, correcting errors and omissions on returns, responsibilities when faced with a conflict of interest, and the form and content of advice provided to taxpayers. We will also discuss the necessity of establishing data security plans, providing tax return documents to third parties, and requirements related to the retention of client records and other documents.
ROBY SAWYERS, Ph.D., CPA, is a Professor in the Department of Accounting at NC State University. He is an author of Federal Tax Research (Cengage Learning) as well as chapters on international tax, state and local tax, tax research, and tax practice and procedure in Corporate, Partnership, Estate and Gift Taxation (Van-Griner). He serves as co-editor and author of the SALT-Block column in Taxes-The Tax Magazine and served as editor of the Tax Practice Responsibilities column in The Tax Adviser magazine from 2018-2020.
Dr. Sawyers is an active member of the American Institute of Certified Public Accountants (AICPA) from which he received the 2020 Arthur J. Dixon Memorial Award. He has served the AICPA as a member of the Tax Practice Responsibilities Committee as well as chair of the Tax Legislation and Policy Committee and the Trust, Estate and Gift Tax Committee. He has also served on the AICPA’s Tax Executive Committee and Precertification Education Executive Committee.
He teaches CPE and CE courses for a variety of firms and other organizations including CPAacademy.org, KPMG and the AICPA.