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Saturday, July 19, 2014

Give it in writing

By "it" I mean tax advice given by tax practitioners to clients. That advice may pertain to a filing position, planning or an issue that arises in the context of an audit. The IRS/Treasury recently modified Circular 230 that provides rules governing those who practice before the IRS. One modification was to the rules on requirements for written advice (Section 10.37).

I've got a short article in the 7/17/14 AICPA Tax Insider on these changes and a reminder that CPAs (who are members of the AICPA) must also consider SSTS No. 7 on form and content of advice to taxpayers.  I offer several tips for practitioners.  Please take a look - whether you are a practitioner, client or other interested party.  Any suggestions for things to add to the tip list?

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