Certified Public Accountant Regulation (REG) covers ethics, federal tax procedures, business law, and professional responsibilities for aspiring CPAs.
CPAs must know how the IRS operates, including audits, appeals, and collection processes. Understanding taxpayer rights and representation is key.
The IRS may select returns for audit. CPAs help clients prepare, respond to questions, and provide documentation.
If a taxpayer disagrees with IRS findings, they can appeal within the IRS or take the matter to tax court.
Failure to comply with tax rules can result in penalties and interest. CPAs work to minimize these for clients.
CPAs can represent clients before the IRS, providing invaluable support during stressful times.
Helping a client through an audit or negotiating an installment agreement with the IRS.
Assisting a client in responding to an IRS audit letter.
Negotiating a payment plan for a taxpayer with outstanding tax debt.
Understanding federal tax procedures helps CPAs protect and represent clients during IRS interactions.