Avoiding Tax Malpractice: Overview 2024

Overview

This course explores issues related to allegations of malpractice committed by tax professionals and reviews risk management techniques. Inherent in the services of a tax professional is the risk that a client may assert practitioner malpractice. Clients may also accuse an adviser of being unethical or incompetent. Explore why clients make such claims and learn techniques and procedures to minimize the risk. Review practical client communication skills and tools to protect yourself from malpractice exposure.

Highlights

• Technical definitions of tax malpractice
• Risk management techniques: quality control procedures and maintaining professional competence
• Aggressive tax strategies
• "War stories" dealing with tax-related claims against CPAs
• Insurance carrier experiences
• Substantive tax areas: tax-deferred exchanges, built-in gains, alternative minimum tax and overlooked tax elections

Prerequisites

None

Designed For

CPAs, practitioners and attorneys.

Objectives

• Identify topics related to allegations of malpractice committed by tax professionals
• Determine how to recognize high-risk engagements
• Recognize relevant ethical considerations
• Identify tools for insulating yourself from malpractice exposure
• Determine appropriate loss prevention procedures
• Determine effective communication with clients regarding objectives and expectations

Preparation

None

Notice

This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by the California Education Foundation (CalCPA). Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.