Director Karen Hawkins of the IRS Office of Professional Responsibility recently addressed concerns based on an earlier remark--that she had asked Appeals agents to report advisors whose clients avoided accuracy-related penalties through reasonable reliance on the advisors' opinion (see here). She clarified that OPR would not "second-guess" the substantive advice given by an advisor, but is more interested in whether a practitioner applied "due diligence" and a lack of "conflicts of interests" in rendering the advice. Misconduct and disregard for the system are what OPR is looking for.
See Jeremiah Coder, "Hawkins Clarifies That OPR Won't Second-Guess Preparers' Advice," Tax Notes 2011 TNT 216-1 (Nov. 8, 2011).
Posted by David Perry, Managing Associate Editor, Wealth Strategies Journal.
See Jeremiah Coder, "Hawkins Clarifies That OPR Won't Second-Guess Preparers' Advice," Tax Notes 2011 TNT 216-1 (Nov. 8, 2011).
Posted by David Perry, Managing Associate Editor, Wealth Strategies Journal.
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