Circular 230 Flashcards
- Which of the following individuals qualifies as a practitioner under Circular 230?
a. Certified public accountant.
b. Enrolled actuary.
c. Attorney.
d. All of the answers are correct.
d. All of the answers are correct.
- Frank Maple, CPA, represents his brother Joe Maple and Joe’s business partner Bill Smith. Joe Maple and Bill Smith are equal shareholders in the Joe & Bill Corporation. The Internal Revenue Service examined the corporation and determined that one of the shareholders committed fraud, but could not determine which shareholder it was. Frank has made an appointment with the Internal Revenue Service to determine which partner was guilty. Which of the following statements reflects what Frank should do in accordance with Circular 230?
a. Frank should meet with the Internal Revenue Service and try to convince the examiner that each shareholder is equally guilty.
b. Advise Joe & Bill that they should dissolve the corporation, thereby making it difficult for the Internal Revenue Service to pursue the issue.
c. Advise Joe & Bill that he cannot represent them because there is a conflict of interest.
d. Advise Joe & Bill on creating documents that will convince the Internal Revenue Service that neither shareholder is guilty of fraud.
conflict of interest.
2사람 등장
1사람 대리
b. 회사 분리
c. Advise Joe & Bill that he cannot represent them because there is a conflict of interest.
- Identify the individual below from whom a CPA, in practice before the Internal Revenue Service, may knowingly accept assistance.
a. An individual who is under disbarment from practice before the Internal Revenue Service.
b. An individual who is under suspension from practice before the Internal Revenue Service.
c. An individual who has temporary recognition to practice before the IRS.
d. A former government employee where any federal law would be violated.
c. An individual who has temporary recognition to practice before the IRS.
- Identify the appropriate action that a practitioner should take when (s)he becomes aware of an error or omission on a client’s return.
a. Amend the return and provide it to the client.
b. Inform the IRS of the noncompliance, error, or omission.
c. Do nothing.
d. Promptly advise the client of such noncompliance, error, or omission and the consequences thereof.
d. Promptly advise the client of such noncompliance, error, or omission and the consequences thereof.
- Which of the following statements is true with respect to a client’s request for records of the client that are necessary for the client to comply with his or her Federal tax obligations?
a. The practitioner may never return records of the client to the client even if the client requests prompt return of the records.
b. The existence of a dispute over fees always relieves the practitioner of his or her responsibility to return records of the client to the client.
c. The practitioner must, at the request of the client, promptly return the records of the client to the client unless applicable state law provides otherwise.
d. The practitioner must, at the request of the client, return the records of the client to the client within 3 months of receiving the request.
c. The practitioner must, at the request of the client, promptly return the records of the client to the client unless applicable state law provides otherwise.
법으로 아닌이상 줘야
수임료로 싸워도 돌려줘야함
- The Secretary of the Treasury can censure, suspend, or disbar a practitioner from practice before the Internal Revenue Service for incompetence and/or disreputable conduct. Which one of the following is considered disreputable conduct?
a. Conviction of any criminal offense under the revenue laws of the United States.
b. Conviction of any criminal offense involving dishonesty or breach of trust.
c. Giving false or misleading information or participating in any way in the giving of false or misleading information to the Department of the Treasury or any officer or employee thereof.
d. All of the answers are correct
형사상 범죄 확정
under the revenue laws of the United States.
dishonesty or breach of trust. 허위 작성
d. All of the answers are correct
- A notice of disbarment or suspension of a certified public accountant from practice before the Internal Revenue Service is issued to which of the following?
a. IRS employees.
b. Interested departments and agencies of the federal government.
c. State authorities.
d. All of the answers are correct.
d. All of the answers are correct.
정지
- Pursuant to Treasury Circular 230, which of the following statements about the return of a client’s records is correct?
a. The client’s records are to be destroyed upon submission of a tax return.
b. The practitioner may retain copies of the client’s records.
c. The existence of a dispute over fees generally relieves the practitioner of responsibility to return the client’s records.
d. The practitioner does not need to return any client records that are necessary for the client to comply with the client’s federal tax obligations.
b. The practitioner may retain copies of the client’s records.
- A CPA prepared a tax return for a client who will receive a refund check. The client is traveling abroad and asked the CPA to pick up the check at the client’s home address. Under Treasury Circular 230, any of the following actions, if taken by the CPA relating to the refund check, would be a violation of the rules of practice before the Internal Revenue Service, except
a. Endorsing the check and depositing it into the client’s bank account.
b. Holding the check for safe keeping and awaiting the client’s return.
c. Holding the check until the client is billed, then endorsing and depositing the check into the CPA’s account as payment for the bill.
d. Endorsing the check and depositing it into an escrow account for the client’s benefit.
b. Holding the check for safe keeping and awaiting the client’s return.
- Under Treasury Circular 230, in which of the following situations is a CPA prohibited from giving written advice concerning one or more federal tax issues?
a. The CPA takes into account the possibility that a tax return will not be audited.
b. The CPA reasonably relies upon representations of the client.
c. The CPA considers all relevant facts that are known.
d. The CPA takes into consideration assumptions about future events related to the relevant facts.
a. The CPA takes into account the possibility that a tax return will not be audited
- A CPA prepares income tax returns for a client. After the client signs and mails the returns, the CPA discovers an error. According to Treasury Circular 230, the CPA must
a. Document the error in the work papers.
b. Prepare an amended return within 30 days of the discovery of the error.
c. Promptly advise the client of the error.
d. Promptly resign from the engagement and cooperate with the successor accountant.
c. Promptly advise the client of the error.
문제 손해 advice
- According to Circular 230, which of the following statements may not be used when a CPA advertises?
a. Name, address, and office hours.
b. Names of associates of the firm.
c. Claims of quality of service that cannot be verified.
d. Membership in professional organizations.
c. Claims of quality of service that cannot be verified.
- Which entity has the authority to prohibit an individual from practicing public accounting?
a. The Private Companies Practice Section.
b. A state board of accountancy.
c. A state CPA society.
d. A joint trial board of the AICPA.
b. A state board of accountancy.
주 회계 위원회
- The Securities and Exchange Commission (SEC) may discipline accountants. Under its disciplinary powers, the SEC may suspend an accountant’s right to practice before it. What is a basis for suspension?
a. Conviction of any misdemeanor.
b. Intentional or unintentional violation of SEC regulations.
c. Being subject to a temporary restraining order regarding securities practice.
d. Conviction of a felony.
d. Conviction of a felony.
a. Conviction of any misdemeanor.경범죄
