Procedures revised
following last year’s post-tax season wrap-up meeting.
Changes to organizers,
especially those related to Tax Reform, Wayfair, FBAR and FATCA filing obligations, virtual currency transactions, and the sharing economy.
Applicable professional standards
    • the AICPA Statements on Standards for Tax Services,
    • the AICPA Code of Professional Conduct, and
    • U.S. Treasury Department Circular No. 230 (Rev. 6-2014).
The firm’s tax practice quality control manual.
Tax preparation processes and procedures.
Firm privacy and security policies,
including how to respond if a “phishing” email is received.
Engagement letter usage,
including scope changes, tax planning, tax consulting and tax audit representation services.
E-filing procedures.
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.
Penalties applicable to taxpayers and preparers.
The importance of documenting discussions with clients.
What to do during busy tax season
11 items to cover in a pre-tax season staff meeting