One of the pillars of a tax professional’s responsibilities is to maintain objectivity. To do this, the professional must avoid conflicts of interest. The term "conflict of interest" refers to a situation in which two or more parties have a competing interest that would make it difficult for the professional to fulfill his or her duties fairly. In order to maintain the public trust and promote integrity and objectivity in the delivery of services, a professional should be familiar with the conflict-of-interest standards governing the profession and understand how to address these situations when they arise.
Download this practice guide to learn about the rules and standards, including Circular 230 and the AICPA’s Code of Professional Conduct, as well as situations in which a conflict of interest could be present and appropriate actions to take.
Note: Although thought and effort have gone into the development of this guide, it is subject to change. You need to consider the effect that any new developments might have on this practice guide. In addition, the law itself is subject to varying interpretations. Accordingly, you retain responsibility for the final use of its content.