The Ethics And Legal Implications Of The Internal Revenue...

The complexity of the Internal Revenue Code has been the source of genuine concern, standup jokes, and political theater for years, but its greatest effect on practitioners of tax is to create a myriad of complicated gray areas and thorny questions that are not quickly resolved to a neat yes-or-no answer. This ambiguity has resulted in a situation where the ethical and legal implications of tax practice are serious considerations for any professional who is engaging in this line of work. Since 1881, U.S.C. 31 has regulated who can represent other people to the Treasury Department, which encompasses the IRS. This representation, called practice before the IRS, includes not just representation in court, but also all forms of communication on behalf of the taxpayer, including written documentation, phone calls, and interviews. From the beginning, the qualities required to practice before the IRS were good character, good reputation, competence and qualifications (â€Å"Beyond the Basics.† ) Today, those practicing tax or intending to do so need to be aware of a long list of standards and requirements in order to be compliant with both the IRS, as outlined in Circular 230, and the standards of the profession as outlined by the AICPA in â€Å"Statements of Standards for Tax Services.† Circular 230 covers an extensive list of the requirements, laid out in multiple sections of the Internal Revenue Code, of being in compliance as a tax preparer and representative before the IRS, from standardShow MoreRelatedThe Securities And Exchange Commission s Rationale For Charging Cardillo1750 Words   |  7 Pageswith the violations outlined in the case study and identify who was in violation or compliance with the AICPA’s Code of Professional Conduct and the reasons they were or were not complying. 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