Chapter 8: Sanctions and Penalties (Section 10.50)
This chapter details the range of sanctions and penalties for tax professionals who violate Circular 230 regulations. Penalties can include censure, suspension, disbarment, and monetary fines, depending on the severity and frequency of the violation. The chapter emphasizes the importance of maintaining ethical standards to avoid these significant consequences.
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1.
You’ve been notified that a complaint has been filed against you for failing to exercise due diligence. What is your best response?
2.
After multiple warnings from the IRS about misleading advertising, you continue to make unsupported claims in your ads. What penalty might you face under Circular 230?
3.
You’ve been suspended for violations of Circular 230. What must you do if you want to seek reinstatement?