Tax Practice Management and Ethics
Managing a tax practice is tricky. I frequently meet clients who defend their tax choices and dicey positions because they feel it is correct. The disdain for tax agencies, particularly the IRS, becomes transparent in their conversations. To them, I am the governm... Thomas J. Williams, EA
Adapting Accounting Ethics to New Technology
The International Ethics Standards Board for Accountants (IESBA) recently restructured and revised its Code of Ethics for Professional Accountants. While the IESBA Code is not specifically geared toward management accounting and finance professionals, it d... Daniel Butcher
Three Rules for Asking Great Tax Return Questions
Asking clients great questions is central to ruthlessly efficient workflow (REW) management. Great client questions can save hundreds of hours of time during tax season and prevent projects from falling behind schedule. Here is an example of questions done badly. ... Frank Stitely, CPA
Common Ethical Issues in a Tax Practice
The nature of tax practice presents a number of unique ethical issues. Tax practice requires compliance with multiple ethical frameworks. This creates ambiguities and raises complex questions. Courts have even questioned whether certain regulatory... Ryan Dean
Tax Preparer Ethics in the Modern World
After the Civil War in 1884, Congress enacted a law known as the “Horse Act,” which allowed citizens to make claims against the Treasury Department for the value of horses confiscated for use by the troops. The Treasury soon discovered that people were making cl... Anita Robinson, EA
Your Questions Answered
1. Question: My client is a J-1 visa holder from France attending medical school in the United States to be a pediatrician. She first came to the U.S. in 2017 and began working as a medical researcher in the graduate medical program. In July 2019, my client began her medical residen... Brittany J. Benson, JD
Can a Taxpayer Prove Timely Filing of a Tax Court Petition If There Is No Postmark on the Envelope?
Michael J. Seely and Nancy P. Seely, Petitioners v. Commissioner of Internal Revenue, Respondent T.C. memo, 2020-6 | Filed January 13, 2020 If a taxpayer receives a statutory notice of deficiency (90-day letter) and wishes to petition the Tax Court, the taxpayer has 90 da... Steven R. Diamond, CPA
When Should a Tax Practitioner Review a Client’s Records?
During tax season, it is common for tax practitioners to ask clients whether they have the required documentation necessary to claim a deduction or credit. The general rule is that a tax practitioner may “rely in good faith without verification upon information furnishe... Mike Tucker, CPA, JD
The Times They Are a Changin’
Apologies to Bob Dylan who wrote the song that was released in 1964 as the theme for systemic changes he saw coming. Each generation talks about change and each generation brings change to the world. This is my first column as president of NAEA and I would like to thank everyone for your ... Donald Rosenberg, EA
The Rules of Withholding, Redefined
The Tax Cuts and Jobs Act (TCJA)i is a far-reaching law, affecting almost every taxpayer. But, since most taxpayers are employees, one of its most profound impacts can be said to be on payroll administration. Due to structural changes in the Internal Revenue Code m... Alice Gilman
The Road Less Traveled
My tax journey started in 2008. I was 29 years old, and living in Philadelphia, Pennsylvania, near my hometown of Cherry Hill, New Jersey, working in student services at the University of Pennsylvania. I was a student leader in college, both during undergraduate and graduate studies at the Un... Thomas A. Gorczynski, EA, USTCP
It Is Not Because Things Are Difficult…
Whether you put aside EA Journal through the filing season or whether you make time for us along the way, welcome back. On top of the usual tax law changes, security concerns, and software troubles—which were for some significant — the coronavirus (COVID-19) pandemic, and the ... Robert A. Kerr, EA
The New Normal?
The outbreak of the coronavirus (COVID-19) has caused all of us to stop in our tracks, take stock of what’s important, and reassess the plans we set out for the year. This pandemic is changing our world. The novel coronavirus has disrupted modern working life for everyone. We’re all bei... Janelle Julien
An Election Year Primer
As you read this, you are as near to the year 2000 as you were during the first year of the Reagan Administration. For some, the memory will be fond. For others, less so. For all, though, the reality is that while election cycles effectively start much earlier than they once did (Rona... Robert A. Kerr, EA