The study guide is provided to guide you through the course material in a step by step format.
Reading assignments are for "Tax Return Preparer Ethical Issues."
Chapter 1 – Registered Tax Return Preparer Responsibilities
Reading Assignment: Chapter 1 <<>> Review Questions: # 1-5
Upon completion of this chapter, you should be able to:
- Recognize the scope of permitted registered tax return preparer responsibilities;
- Identify the best practices for tax advisors in preparing or assisting in the preparation of a submission to the Internal Revenue Service with respect to:
- Client communication,
- Establishing relevant facts,
- Providing client advice, and
- Practice before the IRS;
- Recognize the standards related to tax return and document preparation; and
- Identify the applicable standards for advising clients concerning potential penalties.
Chapter 2 – Practitioner Duties and Restrictions
Reading Assignment: Chapter 2 <<>> Review Questions: # 1-5
Upon completion of this chapter, you should be able to recognize practitioner duties and restrictions with respect to:
- Information to be furnished to the IRS,
- The practice of law,
- Dealing with taxpayer omissions, errors and noncompliance with U.S. revenue laws,
- The requirement for preparer diligence as to accuracy,
- Return of client records,
- The existence of conflicts of interest, and
- Solicitation of business.
Chapter 3 – Sanctions for Regulation Violations
Reading Assignment: Chapter 3 <<>> Review Questions: #1-5
Upon completion of this chapter, you should be able to:
- Define the terms “censure,” “ suspension” and “disbarment” as they apply to registered tax return preparers;
- Identify the various sanctions that may be imposed for a preparer’s failure to comply with applicable conduct rules;
- Recognize how appropriate monetary sanctions are determined; and
- List the types of conduct considered incompetent and disreputable.