what to do during tax season
13
items to cover in a pre-tax season staff meeting
Welcome to tax season! A kick-off meeting is a great way to remind staff of the firm’s policies and procedures to help ensure consistent execution.
The economy and its impact on the firm. Address firm policies, such as those related to clients who are not paying. Remind professionals of the firm’s policy on Third-Party Verification Letters.
1
Procedures revised following last year’s post-tax season wrap-up meeting.
2
Changes to organizers, especially those related to PPP loan forgiveness, ERC, federal, state, local and other COVID relief received, FBAR and FATCA filing obligations, virtual currency transactions, and the sharing economy.
3
4
Applicable professional standards
including:
    • AICPA
      Statements on Standards for Tax Services
      ,
    • AICPA
      Code of Professional Conduct
      , and
    • U.S. Treasury Department
      Circular No. 230 (Rev. 6-2014)
      .
The firm’s tax practice quality control manual.
5
Tax preparation processes and procedures.
6
Firm privacy and security policies
,
including how to respond if a “phishing” email is received.
7
Engagement letter usage
,
including scope changes, tax planning, tax consulting and tax audit representation services.
8
E-filing procedures.
9
10
Penalties applicable to taxpayers and preparers.
Frequent errors found by reviewers on prior year individual and business income tax returns. Remind preparers to exercise due diligence in compiling and assembling tax information, and to communicate clearly with clients about any concerns.
11
The importance of documenting discussions with clients.
12
Encourage consulting with others when issues arise. Whether client-related, technical, or ethical, issues should be addressed as a firm, not an individual. Ensure that nobody believes that they are solely responsible for problems.
13
Revised procedures
following last year's post-tax season wrap-up meeting
2