Addressing Conflicts of Interest and Errors on Tax Returns 2024
2.00 Credits
Member Price $89
Non-Member Price $119
Overview
This course will cover an advanced-level review of rules regarding error discovery during tax return preparation. Learn reporting requirements and advisement in these situations. The discovery of errors in a taxpayer’s Federal return during preparation or an administrative proceeding and addressing conflicts of interest are among the most challenging issues for tax professionals. Understanding the professional standards and rules is paramount to avoid a violation. Companion Course: Due Diligence Requirements: Circular 230 and Other Standards 2024
Highlights
- Overview of the rules about discovering an error in a return either when rendering future preparation services or during representation in an administrative proceeding
- Discussion of the duty to 'advise' clients concerning potential taxpayer penalties associated with discovering an error or omission
- Discussion of the Circular 230 requirements when a conflict of interest exists in a client engagement
- Circular 230 and the IRS Office of Professional Responsibility oversight and disciplinary authority
Prerequisites
Tax practitioners with 2 years experience and a working knowledge of the AICPA Statements on Standards for Tax Services and IRS Circular 230.
Designed For
CPAs, EAs and tax preparers.
Objectives
- Recognize the various regulatory and professional requirements associated with discovering errors and conflict of interest issues that confront the tax practitioner
- Identify critical areas to be addressed in advising on discovering an error, including required communications with the taxpayer and related engagement matters
- Recognize the need to document the advice given when an error is discovered and the possible consequences
- Recognize the need to monitor potential conflicts of interest and the steps necessary to determine if continued representation is feasible when an actual conflict exists
- Determine the required documentation when a conflict of interest exists
Preparation
None
Leader(s):
Leader Bios
Arthur Dellinger, CalCPA Education Foundation
Arthur J. (Kip) Dellinger, Jr., CPA, provides services as an expert in the areas of CPA tax practice regulatory discipline and malpractice matters. This includes his engagement by Big 4 CPA firms as an expert pertaining to conduct matters and substantive technical issues in several tax shelter malpractice cases. Mr. Dellinger also represents clients in tax controversy matters and provides services to tax counsel in criminal and civil tax proceedings. He has written over three-dozen articles and is a nationally recognized speaker in the areas of tax standards, tax procedure and substantive estate tax matters. He is also a Policy Perspectives columnist for Tax Notes magazine. Mr. Dellinger is a past-Chair of the AICPA Tax Division’s Tax Practice Responsibilities Committee and is the author of the Practical Guide to Federal Tax Practice Standards (CCH, 2007). He developed and teaches full day courses on Tax Practice Standards, Conduct and Quality Control for California CPAs, FIN 48: Uncertain Tax Positions and Quality Control in a Tax Practice for the Education Foundation of the California Society of CPAs. Mr. Dellinger has spoken before the U.S.C. Law School Institute on Federal Taxation, the AICPA National Tax Conference, the UCLA Tax Controversy Institute, the Illinois Society of CPAs, the Florida Institute of CPAs, the Tennessee Society of CPAs and the California Tax Bar. He is also frequent speaker before other CPA and tax attorney conferences, meetings and discussion groups.
Non-Member Price $119
Member Price $89