Avoiding tax malpractice

Malpractice occurs when a practitioner fails to adhere to generally accepted professional standards. Today, accountants are all too familiar with lawsuits stemming from tax practice, which accounts for approximately half of all malpractice claims against public accounting firms. What tax professiona...

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Veröffentlicht in:	The Tax Adviser 2001-12, Vol.32 (12), p.854
1. Verfasser:	Holub, Steven F
Format:	Magazinearticle
Sprache:	eng
Schlagworte:	Accountants Accounting firms Attorneys Capital gains Closely held corporations Estate planning Federal court decisions Fines & penalties Foreign bank accounts Fraud Gift taxes Guidelines Laws, regulations and rules Litigation Malpractice Negligence Professional malpractice Professional standards Professionals State court decisions Stockholders Tax consultants Tax courts Tax credits Tax returns Tax services
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Beschreibung
Zusammenfassung:	Malpractice occurs when a practitioner fails to adhere to generally accepted professional standards. Today, accountants are all too familiar with lawsuits stemming from tax practice, which accounts for approximately half of all malpractice claims against public accounting firms. What tax professionals can do to protect both themselves and their practice from unwarranted charges of malpractice are discussed: 1. screening clients adequately, 2. agreement letter, 3. documentation, and 4. adherence to professional standards.
ISSN:	0039-9957