Revised procedures
following last year’s post-tax season wrap-up meeting.
1
Changes to organizers
,
especially those related to Tax Reform,
Wayfair
, FBAR and FATCA filing obligations, virtual currency transactions, and the sharing economy.
2
Applicable professional standards
including:
    • 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)
      .
3
The firm’s tax practice quality control manual.
4
Tax preparation processes and procedures.
5
Firm privacy and security policies
,
including how to respond if a “phishing” email is received.
6
Engagement letter usage
,
including scope changes, tax planning, tax consulting and tax audit representation services.
7
E-filing procedures.
8
Penalties applicable to taxpayers and preparers.
9
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.
10
The importance of documenting discussions with clients.
11
what to do during tax busy season
11
items to cover in a staff kick-off meeting