Ethics and Responsibility in Tax Practice

Question 1

What materials can the Tax preparer consider to decide the realistic possibility of a position being sustained under SSTS 1

Answer 1

Well reasoned articles, Private IRS rulings, General Explanation of a revenue act by joint committee on Taxation, Tax treatises, IRS General counsel Memoranda

Question 2

SSTS 2 reasonable grounds for Omission of answer on client’s return

Answer 2

1)not easily available AND2) insignificant in regards to taxable income or loss