The Service may administer sanctions for a practitioner's failure to meet them. The practitioner must establish the facts and determine which facts are relevant. It is not necessary to advise whether a taxpayer may avoid accuracy-related penalties under the Internal Revenue Code if a taxpayer acts in reliance on the advice. The Service may waive any sanctions for a practitioner's failure to meet best practices.

What is a conflict of interest compliance?

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Conflict of interest compliance refers to adhering to policies and practices that prevent identify a... View the full answer