Question: In 2011 the IRS finalized regulations requiring that tax return
In 2011, the IRS finalized regulations requiring that tax return preparers who prepare all, or substantially all, of a federal tax return (for compensation) be subject to new requirements. Discuss these requirements. Why do you think the IRS made these changes?
Answer to relevant QuestionsThe rules that govern practice before the IRS are found in Circular 230. Discuss what entails practice before the IRS and state which section of Circular 230 contains the definition. May Circular 230 practitioners advertise on television? On the Internet? If so, what standards are applied to the advertisements? Practicing CPAs generally are subject to the AICPA Code of Professional Conduct. What is its stated purpose? Several groups of individuals do most of the tax compliance work in the United States. Identify these groups and describe briefly the kind of work that each group does. In this regard, be sure to define the term “enrolled ...Ethical professional behavior is the interaction of several standards. Identify these standards and briefly describe each.
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