2024 Tax Ethics for Practitioners
Description:
Stay up-to-date and compliant with ethical standards in tax practice for 2024. This course provides an in-depth exploration of the latest ethical requirements and guidelines as they relate to tax professionals. Participants will gain a thorough understanding of the responsibilities outlined in Circular 230, tax return preparer penalties, and key ethical issues such as client confidentiality, conflicts of interest, and the standards of due diligence. Real-world scenarios and case studies will illustrate best practices and potential pitfalls to avoid. By the end of the session, tax professionals will be equipped with the knowledge to make ethical decisions confidently and ensure their practice aligns with current regulations.
Session Objectives
- Review key provisions of Circular 230 and recent updates impacting tax practice.
- Identify ethical challenges and understand the consequences of non-compliance.
- Analyze case studies to learn strategies for upholding ethical standards in complex situations.
- Discuss the importance of transparency, client confidentiality, and managing conflicts of interest.
- Evaluate strategies for maintaining ethical practice standards in line with professional and legal expectations.
Who Should Attend
- Small firms/sole practitioners
- Medium firms
- CPAs
- Tax professionals
- Large firms
Nick Preusch CPA
Nick Preusch CPA, JD, LLM, is a tax manager with PBMares, LLP. Nick has participated in helping high wealth individual and large business entities with complex tax compliance, along with specializing in international, non-for-profit tax issues, and tax ethics issues. Nick has also worked with the Internal Revenue Service as a Revenue Agent and an Attorney with the IRS Office of Professional Responsibility. Nick is a graduate of Carthage College with a BS in Accounting and Business, University of Connecticut with a MA in Accounting, Case Western Reserve University with a JD, and Georgetown University with an LLM in taxation. Nick has also authored publications for the AICPA’s Journal of Accountancy, AICPA’s Tax Advisor, NATP’s Tax Pro Journal, and CCH’s Journal of Tax Practice and Procedure. He also co-authored a textbook, Tax Preparer Penalties and Circular 230 Enforcement, published by Thomson Reuters. He has lectured nationally on topics such as ethics, complex tax transactions and IRS practice and procedure. Currently Nick is an adjunct professor at the University of Mary Washington. Nick has been recognized as the Top 5 Under 35 CPAs in Virginia by the VSCPA in 2017 and CPA Practice Advisor’s Top 40 Under 40. He is a member of the VSCPA’s Tax Advisory Committee and Ethics Committee, and the AICPA’s Tax