What is one of the best ways that tax preparers can protect themselves against accusations...
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What is one of the best ways that tax preparers can protect themselves against accusations of being a party to fraud on a tax return they have signed? Exhibit ethical behaviors, conduct a thorough tax interview, write detailed due diligence notes using a question and answer format. Only prepare returns for individuals that are known to you since your friends and family will never engage in any type of fraud. Make sure to write the same due diligence note for every return. This type of consistent pattern lets the IRS know you are being thorough. Do not bother writing due diligence notes. It is better not to give the IRS more information than they need.
What is one of the best ways that tax preparers can protect themselves against accusations of being a party to fraud on a tax return they have signed?
Exhibit ethical behaviors, conduct a thorough tax interview, write detailed due diligence notes using a question and answer format.
Only prepare returns for individuals that are known to you since your friends and family will never engage in any type of fraud.
Make sure to write the same due diligence note for every return. This type of consistent pattern lets the IRS know you are being thorough.
Do not bother writing due diligence notes. It is better not to give the IRS more information than they need.
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