Tax Practice Standards Effective Jan. 1, 2010

A reminder that, with tax season upon us, the AICPA Statements on Standards for Tax Services (SSTS) Nos. 1-7 are effective January 1, 2010. SSTSs 1-7 supersede SSTSs No. 1-8. The SSTSs are:

• No. 1, Tax Return Positions
• No. 2, Answers to Questions on Returns
• No. 3, Certain Procedural Aspects of Preparing Returns
• No. 4, Use of Estimates
• No. 5, Departure From a Position Previously Concluded in an Administrative Proceeding or Court Decision
• No. 6, Knowledge of Error: Return Preparation and Administrative Proceedings
• No. 7, Form and Content of Advice to Taxpayers
  

SSTSs are enforceable tax practice standards for members of the AICPA and apply to all members providing tax services regardless of the jurisdictions in which they practice. They are intended to complement other standards of tax practice, Treasury Department Circular No. 230, Regulations Governing the Practice of Attorneys, Certified Public Accountants, Enrolled Agents, Enrolled Actuaries, Enrolled Retirement Plan Agents, and Appraisers before the Internal Revenue Service; penalty provisions of the Internal Revenue Code; and state boards of accountancy rules.

You may download SSTSs from the AIPCA at http://www.aicpa.org/.

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