- Credits: 3
- Format: Self-Study eBook
- Field of Study: Federal Tax Ethics
- Author/Speaker: Paul J. Winn, CLU, ChFC
|Course ID:||Advanced Preparation:||Experience Level:|
|EWTFM-E-01688-21-S | 6233-CE-0404||None||Overview|
|Published Date:||Program Prerequisites:||Other Course Formats:|
|© January 2021||Basic Understanding of Ethics||Self-Study eBook|
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 the knowledgeable assistance of enrolled agents and other professionals in their preparation.
To help ensure enrolled agents and other professionals understand their ethical responsibilities in representing their clients before the IRS and in preparing tax returns, the IRS has published Treasury Department Circular 230.
Circular 230 offers substantial guidance by:
- Setting forth rules relating to the authority to practice before the IRS; and
- Identifying the duties and restrictions relating to such practice.
This course will examine the principal rules, duties, and restrictions applicable to enrolled agents in their professional activities.
After reading the course material, you will be able to:
- Recognize the permitted scope of enrolled agent responsibilities in their practice before the Internal Revenue Service;
- Identify the best practices for preparing or assisting in the preparation of a submission to the Internal Revenue Service; and
- List the duties and restrictions applicable to enrolled agents with respect to:
- Information to be furnished to the IRS,
- Dealing with taxpayer omissions, errors, and noncompliance with U.S. revenue laws,
- The requirement for preparer diligence,
- Return of client records,
- The existence of conflicts of interest, and
- Solicitation of business.
Who Should Attend:
- All Certified Public Accountants (CPAs)
- Enrolled Agents (EAs)
- Tax Return Preparers (TRPs)