Ethics & Responsibilities/Business Law
for REG CPA Exam Q&A 100% Pass
Attorneys, Agents, and Enrolled Agents - ✔✔those who can practice before
the IRS
Preparing and filing documents, corresponding with the IRS, rendering
written tax advice, or representing client at hearings - ✔✔what constitutes
practice before the IRS
Form 2848 - ✔✔power of attorney form to allow an individual to represent a
taxpayer before the IRS
Subpart A of Circular 230 - ✔✔addresses authority to practice before the
IRS
Subpart B of Circular 230 - ✔✔substantive rules that govern tax
practitioners, including CPAs
Subpart C of Circular 230 - ✔✔addresses sanctions for violations regarding
practicing before the IRS
Subpart D of Circular 230 - ✔✔procedural rules for disciplinary proceedings
, Section 10.20 - ✔✔requires prompt cooperation with all IRS requests for
information
Section 10.21 - ✔✔requires practitioner to promptly notify client of an error
or omission in their tax return and its potential consequences
Section 10.23 - ✔✔discourages stalling of any matters before the IRS
unconscionable fee - ✔✔a practitioner may not charge this fee for
representing a client before the IRS
contingent fee - ✔✔may not be charged by a practitioner to a client, unless
(1) connected with an examination or challenge with 120 days, (2) claim for
a refund connected with statutory interest or penalties, or (3) the
accountant is representing the client in judicial proceedings
Section 10.28 - ✔✔requires the practitioner to promptly return any and all
records needed for the client to comply with federal tax obligations
Section 10.35 - ✔✔states that practitioners must be competent, either
through studying the relevant law or consulting with experts
tax return preparer (TRP) - ✔✔any person who prepares for compensation,
or who employs one or more persons to prepare for compensation, all or a
substantive portion of any return of tax or any claims for refund of tax
for REG CPA Exam Q&A 100% Pass
Attorneys, Agents, and Enrolled Agents - ✔✔those who can practice before
the IRS
Preparing and filing documents, corresponding with the IRS, rendering
written tax advice, or representing client at hearings - ✔✔what constitutes
practice before the IRS
Form 2848 - ✔✔power of attorney form to allow an individual to represent a
taxpayer before the IRS
Subpart A of Circular 230 - ✔✔addresses authority to practice before the
IRS
Subpart B of Circular 230 - ✔✔substantive rules that govern tax
practitioners, including CPAs
Subpart C of Circular 230 - ✔✔addresses sanctions for violations regarding
practicing before the IRS
Subpart D of Circular 230 - ✔✔procedural rules for disciplinary proceedings
, Section 10.20 - ✔✔requires prompt cooperation with all IRS requests for
information
Section 10.21 - ✔✔requires practitioner to promptly notify client of an error
or omission in their tax return and its potential consequences
Section 10.23 - ✔✔discourages stalling of any matters before the IRS
unconscionable fee - ✔✔a practitioner may not charge this fee for
representing a client before the IRS
contingent fee - ✔✔may not be charged by a practitioner to a client, unless
(1) connected with an examination or challenge with 120 days, (2) claim for
a refund connected with statutory interest or penalties, or (3) the
accountant is representing the client in judicial proceedings
Section 10.28 - ✔✔requires the practitioner to promptly return any and all
records needed for the client to comply with federal tax obligations
Section 10.35 - ✔✔states that practitioners must be competent, either
through studying the relevant law or consulting with experts
tax return preparer (TRP) - ✔✔any person who prepares for compensation,
or who employs one or more persons to prepare for compensation, all or a
substantive portion of any return of tax or any claims for refund of tax
