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While most people who prepare tax returns and represent taxpayers before the IRS are professional, honest and provide excellent service to their clients, unfortunately there are some who do not maintain ethical standards and follow the law. It is important to maintain ethical standards for a tax preparer because some tax preparers misconduct while representing a taxpayer, misconduct related to the practitioner’s own return,giving a false opinion, recklessly, or through gross incompetence, or misconduct not directly involving IRS representation.
The tax professional must comply with the legal requirements, as well as the rules of the AICPA("American Institute of Certified Public Accountants"), to be ethical. The legal requirements, along with penalties for noncompliance, are found in the Internal Revenue Code of 1986 and Treasury Department Circular 230.
Having and practicing ethical standards could result in less litigation, less confrontations with the IRS, and a good public image.
Please let me know if you need any clarification. I'm always happy to answer your questions.
Aug 7th, 2015
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