ethical standards for a tax preparer

Business & Finance
Tutor: None Selected Time limit: 1 Day

why is it important to maintain ethical standards for a tax preparer

Aug 7th, 2015

Thank you for the opportunity to help you with your question!

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

Did you know? You can earn $20 for every friend you invite to Studypool!
Click here to
Refer a Friend
...
Aug 7th, 2015
...
Aug 7th, 2015
Dec 9th, 2016
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer