The Circular 230 Ethics course is designed to provide tax professionals with a comprehensive understanding of their ethical responsibilities and obligations as outlined in Circular 230. This course will explore the key provisions and regulations set forth in Circular 230, enabling participants to navigate ethical challenges, maintain professional integrity, and ensure compliance with the highest standards of conduct in their tax practice.
- Duties and restrictions: Participants will gain insights into their duties and restrictions as tax practitioners, including the responsibility to exercise due diligence, communicate effectively with clients, maintain confidentiality, and avoid conflicts of interest. We will explore the parameters and best practices for client representation and engagement.
- Practice before the IRS: Participants will examine the requirements and guidelines for practicing before the Internal Revenue Service (IRS) as set forth in Circular 230. This will cover the rules governing written advice, tax return preparation, representation in audits, appeals, and other proceedings, as well as the consequences of non-compliance.
- Standards of competence: The course will highlight the importance of maintaining a high standard of competence and professionalism in tax practice. Participants will explore strategies for staying up-to-date with changing tax laws and regulations, engaging in ongoing professional development, and providing accurate and reliable advice to clients.
- Advertising and solicitation: Participants will learn about the rules and restrictions governing advertising and solicitation activities for tax practitioners. We will discuss the guidelines for ethical and compliant marketing practices to ensure transparency, fairness, and compliance with Circular 230 regulations.
- Sanctions and disciplinary actions: Participants will gain an understanding of the potential sanctions and disciplinary actions that can be imposed by the IRS for violations of Circular 230. We will examine case studies and examples of disciplinary actions, providing insights into the consequences of non-compliance.
- Throughout the course, participants will engage in case studies, and hypothetical scenarios to analyze ethical challenges and dilemmas commonly faced by tax professionals. We will explore practical strategies for ethical decision-making and effective communication with clients.
- By the end of this course, participants will have a solid understanding of their ethical responsibilities as tax practitioners under Circular 230. They will be equipped with the knowledge and tools necessary to uphold professional integrity, navigate ethical challenges, and ensure compliance with the highest ethical standards in their tax practice.
Who Should Attend:
- Enrolled Agents
- Tax professionals
- Office managers
Nick Preusch’s primary focus is performing tax services for high wealth individuals and mid-to-large business entities. Nick’s responsibilities include tax research related to complex business transactions and tax return preparation and review. He also works closely with businesses and individuals to find tax efficiencies through ever-changing tax legislation.
He was also an Internal Revenue Service (IRS) attorney at the IRS National Office in Washington, DC, where he was the lead attorney for several significant tax ethics cases.
Nick co-authored Tax Preparer Penalties and Circular 230 Enforcement, a textbook published by Thomson Reuters. He has also been published in the AICPA’s Tax Advisor and Journal of Accountancy along with CCH’s Journal of Tax Practice and Procedure. In 2017, he was named one of the VSPCA’s Top 5 Under 35. In 2018, he was named to CPA Practice Advisor’s Top 40 Under 40. In 2018, he was part of the AICPA’s New Face of Tax ad campaign.
Nick is a licensed attorney in New York and a Certified Public Accountant in Virginia. He earned an LLM in Taxation from Georgetown University, a JD from Case Western Reserve University, and an MS in Accounting from the University of Connecticut.