A Summary On The Law Of An Accountant

1288 Words6 Pages
Jesse Daniel
Circular 230 Part C Summary
The first part of subpart C in Circular 230 is about sanctions against accountants. This says that an accountant can be disbarred, suspended, censured, disqualified, or pay a monetary penalty if they do not follow the rules set out for them. If they are disqualified then you can’t testify or provide evidence in court. The monetary penalty that can be given is not allowed to exceed the accountant’s income from the activity that caused the punishment.
The next part of subpart C is about bad conduct and what all is considered bad conduct. This includes criminal offenses for dishonesty, giving false information, soliciting your service, giving a false opinion, and not signing a tax return they have prepared.
The final part is about the receipt of information if it concerns the accountant. It is divided between information from an IRS employee and any other person. If an IRS employee thins an accountant is violating a rule, they will write a report and submit it and wait for the IRS to enforce the rule. If any other person thinks an accountant is breaking a rule they will write a report and send it in to an IRS employee so they can create a formal report.
Accountancy Law in WV Summary
One part of accountancy law in West Virginia was to create the state’s board of accountancy. It goes on to list the term for the board members and the requirements to become a board member. After this comes a list of the board’s powers. These powers

More about A Summary On The Law Of An Accountant

Get Access