Chapter 2: Competence (Section 10.35)
This chapter emphasizes the importance of competence for tax professionals. Practitioners must possess the necessary knowledge and skills to provide accurate tax advice and representation. It also highlights the need for ongoing education to stay updated on tax law changes, ensuring compliance with Circular 230.
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1.
You’ve been approached by a client with a highly complex tax issue that involves international investments. What should you do to maintain compliance with §10.35?
2.
A client has an unusual deduction that you’re unfamiliar with, and you’re unsure if it’s allowed. What should you do?
3.
You’ve recently heard about new tax legislation, but you’re not sure how it affects your client’s return. How should you proceed?