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

(176 Ratings)

Produced on: December 14, 2017

Course Format On Demand Audio

Taught by

Categories:

Course Description

Time 97 minutes
Difficulty Intermediate

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


Faculty

R. John Smith

R. John Smith Esq.

R. John Smith, Esq., is a tax law expert with over 30 years focus upon Partnership Tax law matters. He is author of the treatise "Practical Insights on Tax Law“, Tax Law Writer and Editor of Tax Law CPE courses; works closely with national subject matter professionals in the design and execution of complex, large-scale partnership transactions, has lectured on complexities of Subchapter K, partnership modeling Debt allocations, distributions, bringing in new partners, sales of partnership shares, terminations, US Treasury proposed partnership regulations on hot assets under Code Sec. 751(b). which mandate bookups (revaluing partnership assets at fair market value) to lock in each partner’s share of Code Sec. 751 property; nuances of joint venture structuring, US Taxation of international transactions, U.S. International Taxation,Cross-Border Transfers,taxation of outbound transfers to, as well as inbound transfer from, foreign corporations is determined under Code Sec. 367; Reorganizations,Outbound Transfers to Foreign Corporations; Acquisitive Reorganizations;Outbound Acquisitive Reorganizations;Inbound Transfers From a Foreign Corporation;Inbound Acquisitive Reorganizations; Foreign-To-Foreign Acquisitive Reorganizations; Foreign currency translations, Hedges of Foreign Currency Risk with Debt Instruments held as Capital Assets; Tax Law Strategy for tax attributes including foreign Qualified Business Unit earnings remittances, foreign corporation actual and deemed distributions, foreign income taxes etc. throughout the US, Israel, Asia etc. He is member of the U.S. Tax Court Bar and the U.S. Supreme Court Bar. Jack is an alumni of Harvard University and New York University School of Law.

Reviews

CH
Catherine H.

thank you

TH
Tom H.

Very well done!

RS
Robert S.

Great insight on how to approach ethical standards in all areas of practice

ND
NOAH D.

Very nice!

JG
Janet G.

Excellent presentation.

JA
John A.

I think the faculty member must have stated his belief that it is wise to adhere to the normative interests underlying the rules rather than the potentially-changing rules themselves well over twenty times. It's a reasonable approach, but I got it the first time.

VC
Veronica C.

very knowledgeable speaker

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