WebAug 29, 2024 · The AICPA released proposed revisions to the Statements on Standards for Tax Services (SSTSs) for public comment on Monday. The combined document includes … WebThe Statements on Standards for Tax Services, or SSTS, are a series of statements, issued by the AICPA, as to what constitutes appropriate standards for tax practice. The Statements also delineate a member's responsibility to clients, the public, and the profession. The stated objectives of the Statements are as follows: Federal Tax Research ...
Statements on Standards for Tax Services 1-7
WebNov 1, 2024 · The current SSTSs include a series of seven statements on: Recommending tax return positions or preparing or signing tax returns; Signing tax returns if any questions on the return are not answered; Examining or verifying supporting data when preparing a tax return; Using estimates in the preparation of a tax return; WebThe Statements on Standards for Tax Services (SSTS) are issued by: Question 1 options: a) the Internal Revenue Service b) the FASB c) the AICPA d) the American Bar Association e) the AICPA and the American Bar Association jointly Question 2 (2 points) Tax-related communications can come in many forms, for example: Question 2 options: a) s. 71 land titles act
Statements on Standards for Tax Services Overview
WebA. SSTS No. 1 advises that “[w]hen recommending a tax return position or when preparing or signing a tax return on which a position is taken, a member should, when relevant, advise the taxpayer regarding potential penalty consequences of such tax return position and the opportunity, if any, to avoid such penalties through disclosure.” WebQuestion 4 (2 points) The Statements on Standards for Tax Services are: Question 4 options: a) part of the ABA Code of Professional Responsibility. b) intended to replace … Web(1) AICPA issued standards, including but not limited to: (A) Statements on Standards on Consulting Services (SSCS); (B) Statements on Standards for Accounting and Review Services (SSARS); (C) Statements on Standards for Attestation Engagements (SSAE); (D) Statements on Standards for Tax Services (SSTS); (E) Statements on Standards for … s. 6th street w. virginia street