Ethical Standards in Tax Practice
Introducing an enhanced Ethics course tailored for tax practitioners, offering a comprehensive examination of the Treasury Department Circular 230. The IRS 2 hour Continuing Education course, Ethical Standards in Tax Practice, includes two hours of CE credits to tax practitioners …
Overview
Introducing an enhanced Ethics course tailored for tax practitioners, offering a comprehensive examination of the Treasury Department Circular 230. The IRS 2 hour Continuing Education course, Ethical Standards in Tax Practice, includes two hours of CE credits to tax practitioners that will count towards the annual CE requirement to participate in the IRS Annual Filing Season Program (AFSP) and meets the ethic requirement for Enrolled Agents.
Ethical Standards in Tax Practice course begins by establishing a solid foundation of understanding in both Circular 230 and the broader field of ethics. The subsequent modules form the core of the course, delving into the ethical responsibilities and best practices outlined within Circular 230. Participants gain insights into the specific behaviors and practices essential for maintaining an ethical career in the field.
In addition to covering ethical duties, this ethics course also addresses crucial topics such as penalties for violations, the protocols governing disciplinary proceedings, and the enforcement of decisions related to violations. By encompassing these essential aspects, the course provides a thorough and complete review of Circular 230, equipping practitioners with the necessary knowledge and understanding to comply with its requirements effectively.
SYLLABUS:
Prerequisite: Although there is no prior knowledge needed, a high school diploma or an equivalent is recommended. All individuals must possess a valid Preparer Tax Identification Number (PTIN) prior to preparing tax returns for money. All program participants are required to register for the program using their PTIN.
Course Objectives: The user is expected to achieve an enhanced professional understanding of ethical tax topics, federal tax laws and IRS procedures, rules and regulations. This course covers ethical standards for the tax practitioner. Topics included are best practices and procedures of tax records and documentation, due diligence, understanding how to properly apply fees charged for tax preparation and understanding disreputable behavior.
Course Policies and Attendance Requirements: This course is designed in an online self-paced format, offering convenience and flexibility to learners. Upon purchase, students have access to the course materials for a duration of six months. The reading assignments are presented in a clear step-by-step manner, allowing for easy comprehension.
Each reading assignment is then followed by review questions presented in a multiple-choice format. These questions are skillfully crafted to assess the understanding of the completed reading material. Once the answers are submitted, students will receive immediate access to an answer key and feedback on any incorrect questions. While there is no minimum passing grade for the review questions, it is strongly recommended that students review the relevant reading material if they score below 70%.
At the end of the course, students will be required to complete a final exam encompassing all the topics covered. The student will receive a pass or fail grade but will not be provided with an answer key and feedback on incorrect questions. The final exam must be passed with a 70% or better score in order to meet the 2-hour Ethics CE requirement and to receive a Certificate of Completion. Successful course completion is reported to the IRS by Tax IQ Academy within three business days.