Skip to main content

Tax Return Errors Responsibility

Tax Return Errors Responsibility - In the past, the IRS' Office of the Director of Practice lacked the resources to effectively pursue potential ethical violations by some tax professionals.

But the landscape has changed with the creation of the Office of Professional Responsibility, which has significant additional staffing and funding to more aggressively pursue problem practitioners.

As the oversight of licensed tax practitioners increases, we need to know what is expected of us to comply with the law and retain our ability to represent taxpayers before the IRS.

Our focus was Circular 230, a U.S. Treasury Department regulation administered by the Office of Professional Responsibility. Although various versions of the Circular have been in effect for a while, the Circular was significantly revised and strengthened in July 2002.

Circular 230 governs practice before the IRS by CPAs, attorneys, enrolled agents and enrolled actuaries. The Office of Professional Responsibility may only discipline individual practitioners, not their firms. Sanctions for violating the Circular include a private reprimand, censure, suspension or disbarment from practice before the IRS.

Panelists said the Circular highlights the need for practitioners to exercise due diligence in their practice before the IRS. This includes carefully preparing tax returns and other documents which may involve reasonable reliance on the work of others--such as schedule K-1s prepared by others--relating to IRS matters.

Tax Return Errors Responsibility

Comments

Popular posts from this blog

Urban Meyer Stepping Down

Urban Meyer Stepping Down - Well, it appears as if it’s deja vu all over again.

Less than 12 months after retiring and then un-retiring, Urban Meyer is apparently stepping down as Florida’s head coach. There’s no word on if he will be stepping back up tomorrow.

Urban Meyer Stepping Down

According to Todd Wright of Sporting News radio, GatorUpdates.com and AOL Fanhouse‘s Brett McMurphy Meyer will announce at a 5 p.m. ET press conference Wednesday that he is resigning/retiring as the Gators’ head coach. There are no further details available at this time, other than GatorUpdates reporting over the weekend that Meyer checked into a hospital the week of the UGA game and has been undergoing tests since.

Obviously, we’ll have more on this story throughout the day and well into the night…

Urban Meyer Stepping Down

Work-Related Personal Development Plans

Work-Related Personal Development Plans - Personal development refers to activities that improve self-knowledge and identity, develop talents and potential, build human capital and employability, enhance quality of life and contribute to the realization of dreams and aspirations. The concept is not limited to self-development but includes formal and informal activities for developing others, in roles such as teacher, guide, counselor, manager, coach, or mentor. Finally, as personal development takes place in the context of institutions, it refers to the methods, programs, tools, techniques, and assessment systems that support human development at the individual level in organizations.

At the level of the individual, personal development includes the following activities:

* improving self-awareness
* improving self-knowledge
* building or renewing identity
* developing strengths or talents
* identifying or improving potential
* building employability or human ca…

Matt Cassel Undergoes Appendectomy

Matt Cassel Undergoes Appendectomy - The mystery of Matt Cassel missing practice Wednesday coupled with the Kansas City Chiefs promoting quarterback Tyler Palko has been solved.

The team has announced that Cassel underwent an appendectomy on Wednesday morning. The Chiefs say they expect Cassel to return to work this week. Returning to work and being ready to perform well in the team’s biggest game of the season on Sunday against San Diego are two different things. ESPN’s Adam Schefter is reporting the Chiefs are viewing Cassel as being questionable to play in the game.

Clearly, this is terrible timing. The Chiefs are 8-4 and would take a major step toward the playoffs with a win over the Chargers. Cassel has played very well for the past two months. If he can’t play, the brittle Brodie Croyle would face the Chiefs in his first action of the season. Croyle last played in Week 13 of the 2009 season.

Matt Cassel Undergoes Appendectomy

Cassel’s availability will come down to whether he…