Conflicts of Interest IRS Rules Differ from AICPA Professional Standards
Circular 230 forbids federal tax practitioners from having conflicts of interest, defined as representation of one client that is directly adverse to that of another client, or representing a client in circumstances creating a significant risk that the...
Published on January 08, 2013
CPA Conflicts of Interest
Avoiding conflicts of interest requires CPAs to aggressively identify potential conflicts and take appropriate remedial action
Published on January 28, 2011
Circular 230 Conflicts of Interest
This item highlights the requirements of Circular 230 §10.29 and the new client consent standard and addresses how the new standard may affect practitioners and clients.
Published on May 04, 2010
Practical Approaches to Common Conflicts of Interest
This column highlights some common conflicts of interest encountered by CPA tax practitioners and offers some practical means of properly addressing the consequential ethical issues
Published on April 30, 2014
How Poor Planning and Tainted Opinion Added Up to a $36.7 Million Accuracy Penalty
In a case of first impression, the Tax Court in Canal Corp. et. al. v. Commissioner, 135 T.C. No. 9, was presented with a leveraged partnership transaction. As a result of poor planning, sloppy paperwork and a tainted opinion by PriceWaterhouseCoopers (PwC), the Tax Court held that the transaction constituted a disguised sale,
Published on January 28, 2011
Current Developments in Partners and Partnerships
This article reviews and analyzes recent rulings and decisions involving partnerships. The discussion covers developments in partnership formation, income allocations, and basis adjustments.
Published on September 26, 2014
Advising Clients Regarding Erroneous Tax Return Positions Part II
This article discusses what tax practitioners must do if their client fails to heed their advice whan an error is found on a tax return and what to do when the error is attributable to the tax practitioner’s own advice.
Published on June 30, 2013
An Overview of AICPA and IRS Rules of Practice
This column refreshes practitioners on the AICPA and IRS rules of practice, provides a list of resources for questions and answers, and details the relationship and similarities between the AICPA and IRS ethics standards related to tax practice.
Published on February 19, 2014
Accuracy-Related Penalty Applied Despite Reliance on Adviser
The Tax Court held that a corporation was liable for an accuracy-related penalty for a substantial understatement of tax related to a joint venture transaction even though the corporation had received an opinion from a national accounting firm that the transaction was not taxable.
Published on October 05, 2010
The RPO, OPR, and Circular 230
A discussion of developments in two critical IRS offices, the Return Preparer Office and the Office of Professional Responsibility.
Published on March 31, 2012