Hot Topics in Tax Law Ethics Compliance Review: The Ethical Model Rules and the U.S. Department of the Treasury Circular 230

This program begins with a brief review of recent developments concerning the U.S. Department of the Treasury Circular 230 and highlights the intersections of the Treasury Circular 230 with Professional Ethical Model Rules such as the American Bar Association Model Rules of Professional Conduct, the American Institute of CPA’s Code of Professional Conduct, and the proposed U.S. Department of Labor Fiduciary Rules. Additionally, several court cases currently on appeal and District Court cases pending in Kansas and Minnesota will be discussed.

Developments in due diligence compliance requirements with the U.S. Department of the Treasury Circular 230 rules and the Anti Money Laundering program include identification and verification of beneficial owners of legal entity customers, subject to certain exclusions and exemptions. Join international tax law compliance thought leader and attorney R. John Smith in review of these intersections with the Ethical Model Rules in this thought-provoking and comprehensive ethics program.  

Learning Objectives:

1. Review briefly the recent developments with the U.S. Department of the Treasury Circular 230, FBAR, FATCA , ABA MPC, and the AICPA CPC
2. Identify the intersection of the U.S. Department of the Treasury Circular 230 with the ABA Model Rules of Professional Conduct, the AICPA Code of Professional Conduct, and the proposed US Department of Labor Fiduciary Rules
3. Discuss developments with Court cases currently on appeal
4. Recognize due diligence compliance requirements with U.S. Department of the Treasury Circular 230 rules and the Anti Money Laundering program
5. Grasp the civil and criminal penalties for ethical noncompliance