Circular 230 Best Practices

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circular 230 best practices

§10.33 – Best Practices
• Clearly communicate with clients and IRS
• Establish relevant facts, evaluate reasonableness of assumptions or representations, apply relevant legal authorities in arriving at a conclusion supported by the law and the facts
• Advise the client re potential penalties
• Act fairly and with integrity in dealings with the IRS. Your reputation counts

§10.34 – Practitioner
• Must advise client of potential penalties re
– Positions on returns you prepared or positions where you rendered advice
– Any documents submitted to the IRS

§10.34 – Practitioner
• Must advise client of opportunities to avoid penalties through disclosure and the requirements for an adequate disclosure
• May rely in good faith, without verification, upon information furnished by the client
• Must make reasonable inquiries if information received or assumptions appear incorrect or incomplete

§10.37 – Written Advice
• Practitioner may not give written or electronic advice based on unreasonable legal or factual assumptions or representations
• May not give advice that takes into account
– The possibility of an audit,
– Whether the issue will be raised on auditor Whether, if raised on audit, the issue would be resolved through settlement

§10.50 – OPR Sanctions
• Censure,
• Suspension, or
• Disbarment from practice before the IRS.
• Additionally, OPR may impose a monetary penalty not to exceed the gross income derived or to be derived from the conduct giving rise to the penalty.

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