Miscellaneous

Tax Return Preparer Ethical Issues

Course Overview
The Internal Revenue Service routinely processes more than 200 million tax returns each year, many of them prepared by tax professionals. Not surprisingly, as tax law becomes increasingly complex, taxpayers often seek for the knowledgeable assistance of attorneys, CPAs, enrolled agents and other qualified tax return preparers.

To help ensure such professionals understand their ethical responsibilities in representing their clients before the IRS and in preparing their tax returns, the IRS has published Treasury Department Circular No. 230. Circular 230 offers substantial guidance by:

  • Setting forth rules relating to the authority to practice before the IRS;
  • Identifying the duties and restrictions relating to practice before the IRS; and
  • Prescribing sanctions for violating the regulations.

    This course will examine many of those rules, duties and restrictions as well as the sanctions imposed for their violation. In that examination of applicable rules, the course will discuss the requirements imposed on tax return preparers and will then present real-world scenarios focusing on specific ethical issues preparers may encounter in their professional activities. The preparer will be asked to analyze the scenario, identify the ethical issue or issues presented, and determine an appropriate response.



  • Learning Objectives:

    After completing this course, the course participant should be able to:

  • Recognize the permitted scope of tax return preparer responsibilities;
  • Identify the best practices for tax advisers in preparing or assisting in the preparation of a submission to the IRS;
  • Identify practitioner duties and restrictions with respect to –
  • Information to be furnished to the IRS,
  • The practice of law,
  • Dealing with taxpayer omissions, errors and noncompliance with U.S. revenue laws,
  • The requirement for preparer diligence as to accuracy,
  • Return of client records,
  • The existence of conflicts of interest, and
  • Solicitation of business; and
  • Determine the various sanctions that may be imposed for a preparer’s failure to comply with applicable conduct rules.


  • Prerequisites/Advanced Preparation:

    None

    Speaker / Author:

    Paul J. Winn CLU ChFC

    Education
    B.A. (Philosophy), St. John's University (1961 – 1964) Law School, University of Virginia (1964 – 1965) MBA program Binghamton University (1986-1989)
    CLU (1985)
    ChFC (1987)

    Experience
    Thirty years in the life insurance and investment industry (1965 – 1995). Nineteen years as a financial writer, editor and trainer (1995 – 2014).

    Mutual Life Insurance Company of New York
    Product developer
    Compensation officer
    Agent
    Sales manager

    Security Mutual Life Insurance Company
    General agent
    Marketing vice president
    Agency vice president
    Vice president - strategic planning officer

    Principal Financial Group
    Agency Manager

    Maryland Financial Corporation
    President

    Freelance Writer & Editor
    Published book author.
    Writer & editor of major mutual life insurance company’s agent training university. Creator of more than 200 insurance, securities and tax training courses in online, print and scripted classroom formats.

    Insurance Industry Involvement
    Member, Board of Directors, Baltimore Chapter of CLU & ChFC
    Chairman of Continuing Education, Baltimore Chapter of CLU & ChFC
    Moderator, GAMA Agency Managers Training Course (AMTC) Baltimore
    Member, Board of Directors, Southern Tier (NY) Chapter of CLU & ChFC
    President, Southern Tier (NY) Chapter of CLU & ChFC 1987-1989
    Member/Secretary, Advisory Board to New York State Insurance Department 1985-1989

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    Price (USD)

    Standard: $49.90

    Details

    Course Code : 99WIN14

    Release Date : 03/15/2018
    Expire Date : 09/14/2020
    Credits :
    CPE 2.00
    IRS CE 2.00
    QAS 2.00

    Length : 1hr 40min
    Course Level : Basic
    Course Type : Self-Study
    Passing Grade : 70%
    Format Type : eLearning
    Mobile Compatible
    Field Of Study : Regulatory Ethics

    Theme : Miscellaneous

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