Questions On Ethics And Ethics

On June 1, 2016, exactly three months ago, Marianne and Dory received an audit notice for Wise-Holland’s 2011 tax return because some deductions taken were

1 taxpayers' reliance on disputed advice was unreasonable as to late filing of tax return;

correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.

Code section 7525 generally gives taxpayers protections of confidentiality with respect to tax advice. Since there is no accountant-client privilege under the common law, code section 7525 states that the confidentiality privilege that applies to a communication between a taxpayer and an attorney is applied to a communication between a taxpayer and an accountant as well. Although accountant-client privilege is derived from attorney-client privilege, the protection of the discussion between an accountant and a taxpayer is more limited. For example, code section 7525 provides protection for communications between a taxpayer and a federally authorized tax practitioner, which means that the tax practitioner should be a certified public accountant (CPA); however, all active attorneys are federally authorized tax practitioners. Furthermore, there are two more limits on what matters and communications are covered by code section 7525. First limitation is that accountant-client privilege just applies to noncriminal tax matters before the Internal Revenue Service and noncriminal tax proceedings in federal court, and it does not apply to written communications between a taxpayer and a CPA in regards to the promotion of a tax shelter. For example, an opinion letter that was written by a CPA to a client in connection with a tax shelter is not privileged under code section 7525.

AS 3 goes on to state in paragraph A9 that “the documentation requirements in this standard should result in more effective and efficient oversight of registered public accounting firms and associated persons, thereby improving audit quality and enhancing investor confidence”.

230 §10.20(1) to timely provide records pursuant to RA Beth’s document request. Additionally, under Circular No. 230 §10.20(3), I am obligated to provide information regarding the potential understatement of income to the requesting IRS agent. While Morty is uncomfortable with acknowledging his potential income understatement and providing updated financial statements with supporting documentation, I have “a duty…to not mislead the IRS ‘deliberately and affirmatively, either by misstatements or by silence, or by permitting [the] client to mislead.’” (Hawkins 2017, p.

K6 legislation, statutory codes, standards, frameworks and guidance relevant to your work, your work setting and the content of this standard

May the IRS discuss this return with the preparer shown below (see instructions)? Yes No

It is imperative for tax professionals to understand the ethics environment of the practice. This paper is focused on the ethical responsibilities of tax professionals.

The standards for tax service that apply in the instance is SSTS No 1 which is tax returns position. This applies because as a tax preparer, you have to take a position with Ahi corporation, “a position about which a member has knowledge of all material facts and, on the basis of those facts, has concluded whether the position is appropriate” (unknown)

John Jones, CPA has been in the business of preparing tax returns for 20 years. He recently compiled a list of specific taxpayer information which could be used to contact taxpayers on the list to provide tax, general business or economic information for education purposes. Mr. Jones compiled this list without the consent of his clients. In this paper, we will discuss if Mr. Jones violated the disclosure of client confidentiality under SEC 7216.gob.

a Provide the principal support for the auditor’s report, including the representation regarding observance of the standards of fieldwork, which is implicit in the reference in the report to generally accepted auditing standards.

In Normative Ethics there are three distinct schools of thought, and each differentiate through moral intentions. Consequentialism relies on the consequences of an action in order to distinguish whether or not something is morally acceptable. Deontology considers the morality of an action by one’s reason for doing a certain deed. Lastly, virtue ethics bases morality off of virtuous character, and how a virtuous person would act given a certain predicament. Ultimately, consequentialism provides the most practical explanation for morality due to the notion of providing the best possible result. Contrarily, deontology and virtue ethics do not always provide an individual with the most sensible course of action, and therefore prove to be

“Brad is a production engineer at a bicycle company and part of his job includes inspecting broken bikes and drafting the design repairs for their repair” (Bartlett). Brad is considering replacing a broken brake cable with a more durable material, even though the customer did not request it in their order and specifically requested that “No aesthetic changes be made to the bike” (Bartlett). Brad’s manager suggests that his considered actions would go against the company’s policy of “The customer is always right.” Should Brad disobey the manager and the customer to possibly lose his job or go along with

Sam arrives 15 minutes before his appointment. He gives the receptionist his name and takes a seat. Shortly after, Sam’s name is called and he follows his advisor into his/her office. Before the advisor proceeds to orient him in the process and set expectations, he hands him/her the required tax documents. After listening to his advisor, he asks questions. The advisor does a great job in answering his questions. The tax interview is then conducted. Upon completion of the interview, Sam reviews his return in its entirety. It is then submitted to the IRS for approval. Sam gets up and thanks his advisor for his/her time.