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Archive by Year:2008

In-house Tax Professionals Take Notice: The IRS’s Office of Professional Responsibility Can Impose Monetary Penalties

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Posted in on February 28, 2008

There are many misunderstandings among tax professionals in the private sector concerning their ethical responsibilities and how their conduct fits into the larger picture of corporate America.  First and foremost, tax professionals need to understand their ethical obligations to their clients as well as the consequences of their failure to comply.  This is especially true given the current enforcement-driven environment that exists in the United States.  With the passage of Sarbanes-Oxley, the American Jobs Creation Act of 2004 (“Jobs Act”), and now the Pension Protection Act of 2006, it is more important than ever for all tax professionals to stay involved in local bar associations and keep up-to-date on their evolving ethical responsibilities. 

 

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