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ACCT/420 ACCT420 ACCT 420 Week 8 Assignment Ethics Exercise

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ACCT 420 Week 8 Assignment Ethics Exercise Purpose To familiarize students with tax related statutory, regulatory, and professional ethics obligation and apply to factual situations. Action Items 1. Go to the RIA Checkpoint accounting and tax database in the Franklin University library. Read Internal Revenue Code (IRC) Sections 6694 and 7216. Go to Internal Revenue Service at www.irs.gov 2. Type in “Circular 230” in the search box on the upper right hand side of the screen. 3. Select “Circular 230 Tax Professionals” from the search selections. Review the materials on the page. 4. Select “Circular 230” from the search selections. Review Circular 230. See the instructions below. Please do a review of Circular 230. 5. Go to the American Institute of Certified Public Accountants at www.aicpa.org. 6. Search for “Statements on Standards for Tax Services.” (“SSTS”) Please do a review of SSTS. 7. See attached PDF of “Examples of Abusive Tax Return Preparer – Fiscal Year 2014” issued by the Internal Revenue Service. Also, see link here: https://www.irs.gov/uac/Examples-of-Abusive-Return-Preparer-Investigations-Fiscal-Year-2014#.Vk4Inq_21zM.gmail 8. Select four (4) Investigations of your choosing and for each investigation, identify at least 3 criteria or standards from IRS statutory guidance, Circular 230, and the AICPA Professional Ethics Obligations (assume all apply to your Investigations) that the tax return preparer failed to meet and resulted in abuse from each investigation selected. Select at least one from statutory, one from Circular 230, and one from the AICPA Professional ethics obligations (SSTS) for each investigation Submission Instructions • Write down at least 3 criteria (one each from the Statutes, Circular 230, and SSTS) or standards noted above from each of the four investigations you have selected that you believe the tax return preparer failed to meet and cite your sources. Select at least one from statutory, one from Circular 230, and one from the AICPA Professional ethics obligations (SSTS) for each investigation. Submit into the drop box. • Bring to class and prepare to discuss with your instructor and fellow students. Grading Criteria • 0 to 20 points. Completion of the assignment and submission of the bullets.

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