Tax Technology Resource Center

• Gramm-Leach-Bliley Act (GLBA): According to the Federal Trade Commission (FTC) safeguards rule, tax preparers must implement security plans to protect client data. Failure to do so may result in an FTC investigation. Learn how to comply with these rules and read more guidance on data security in IRS Publication 4557, Safeguarding Taxpayer Data. Also, Tax Section members have exclusive access to our GLBA information security plan template.
• Sec. 7216, Disclosure or Use of Information by Preparers of Returns:
  This criminal provision in the Internal Revenue Code prohibits preparers from knowingly or recklessly disclosing or using tax return information. See the AICPA’s Tax Section guidance and IRS FAQs to help you comply.
• AICPA Code of Professional Conduct: As a member of the AICPA, you have responsibilities to the public, clients and colleagues, including responsibilities to keep client information confidential and secure. Access the full Code of Professional Conduct.
• Treasury Department Circular No. 230, Regulations Governing Practice before the IRS: These rules impose an obligation on practitioners to exercise due diligence in preparing returns or other documents related to a federal tax matter. A violation may subject a practitioner to sanctions, including censure, suspension or disbarment from practice before the IRS. See the AICPA’s Tax Section guidance on Circular 230.
• Other Requirements: Depending on your situation, you may need to adhere to other privacy requirements. See the AICPA’s privacy risk management guidance and review the Privacy Management Framework.

• Tax Practice Quality Control Guide and template document: This guide provides information on why quality control is needed and what each element of quality control entails. Tax practices of all sizes can use this Word template to fashion their own written quality control system.
• Sample Sec. 7216 consent letters: These template letters can be used whenever you need to obtain written consent to use or disclose client information to a third party.
• Tax Identity Theft Information and Tools: This resource page contains tools and guidance that helps practitioners combat tax-related identity theft and advise clients.
• GLBA Security Plan Template: Download and customize this template to help you comply with the safeguards rule and protect your clients’ personal information.
• Privacy Management Framework: This guide helps you learn how to establish and operate a comprehensive information privacy program that addresses privacy obligations and risks while facilitating current and future business opportunities.

• Managing Client Communications with Technology: Every business should stay current on the latest communication methods and focus on their online reputation. Part of our Tax Practitioner’s Marketing Toolkit, this guide helps you with your social media, email communications, teleconferencing and cybersecurity.
• Technology for a Tax and Financial Planning Services Business: Learn what technologies you should consider for your practice. This overview contains tips on how to approach and implement various types of software in your practice.

• The technology and human lessons of COVID-19 – Listen to a podcast where experts examine what the coronavirus crisis has revealed about accountants, their employers and the technologies essential to remote work and life.
• What CPAs must do to capitalize on disruption – Accountants should be preparing now for advanced technologies and other factors that are poised to disrupt the profession.
• Automation and digital workflow in a tax practice – To implement automation technology, firms will need to understand all the steps involved.
• What tax firms need to know now about technology – Donny Shimamoto, CPA/CITP, CGMA, shares the six areas that tax practitioners need to consider to leverage technology today.

• Virtual Currency Overview: Listen to this video to hear how Bitcoin and other virtual currencies are affecting the tax profession.
• The Basics of Cryptocurrency and Taxes: Learn the essentials of cryptocurrency in this webcast archive and presentation slides.
• Reality Check: Virtual Currency and its Tax Ramifications, The Tax Adviser: This article describes a few key aspects of virtual currency, its tax ramifications and what tax practitioners need to know about it.
• CPAs’ Top 5 Questions About Blockchain, Cryptocurrencies, Journal of Accountancy: This article discusses ways CPAs can leverage this new technology to improve client service.
• Blockchain and Virtual Currency Implications for Tax CPE Self-Study: Learn about blockchain technology and how to master current tax issues, anticipate new challenges and create value for yourself and your clients with this new technology.
• AICPA Comment Letter on Virtual Currency: AICPA letter to the IRS that provides guidance and recommendations on virtual currency.

• Data Analytics: A High-Level Introduction for Accounting Practitioners, The Tax Adviser: This article helps you learn how tax practitioners better trained in data analytics could improve decision-making in several areas.
• Using Big Data to Identify Tax Risk, The Tax Adviser: This article helps you learn how to use data from the IRS to predict a client’s audit risk.
• The Next Frontier of Data Analytics, Journal of Accountancy: This article addresses why CPAs and organizations need to learn to use advanced technology to predict and achieve outcomes.

See more on business intelligence and data analytics and how technology is being used to transform other aspects of the accounting/audit profession.

• Tax and Financial Planning Services: Technology is rapidly evolving, and competitors are moving swiftly to take advantage of the tax relationships with clients. This resource hub has the tools and information you need to stay ahead of the change.
• Technology for a Tax and Financial Planning Services Business: This overview contains tips on how to approach and implement various types of software in your practice.