Question: An individual who for compensation prepares or assists with the
An individual who for compensation prepares or assists with the preparation of all or substantially all of a tax return or claim for refund is subject to the duties and restrictions relating to practice in subpart as well as subject to the sanctions for violation of the regulations in subpart of Circular 230. Explain what this means.
Answer to relevant QuestionsPracticing CPAs generally are subject to the AICPA Code of Professional Conduct. What is its stated purpose? What are the SSTS? Who issues them? Discuss their principal objectives. Last year a taxpayer was audited by the IRS and an item of deduction on the tax return was disallowed. On this year’s tax return, the taxpayer would like to deduct a similar item. Discuss the circumstances under which a ...Summarize what is discussed in each of the following sections of Circular 230: a. Subpart A, § 10.4(c) b. Subpart B, § 10.21 c. Subpart B, § 10.26 d. Subpart B, § 10.29 Obtain a complete copy of the AICPA Code of Professional Conduct from www.aicpa.org. Summarize what is discussed in each of the following rules of the AICPA Code of Professional Conduct. Give a simple example of a ...
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