Asked by Dennie Katuna on Jul 29, 2024
Verified
Circular 230 applies only to Certified Public Accountants and Enrolled Agents.
Circular 230
Regulations and guidelines issued by the US Department of the Treasury for tax professionals regarding practice before the IRS.
Certified Public Accountants
Licensed accounting professionals who have passed the CPA examination and met state certification and experience requirements, skilled in areas such as audit, tax, and financial consulting.
Enrolled Agents
Tax professionals licensed by the federal government to represent taxpayers in matters regarding the Internal Revenue Service (IRS).
- Recognize the role and applicability of Circular 230 and other regulatory frameworks in tax preparation.
Verified Answer
FA
Faith AuteryJul 30, 2024
Final Answer :
False
Explanation :
Circular 230 applies to a wide range of tax professionals including Certified Public Accountants, Enrolled Agents, attorneys, and others who practice before the IRS.
Learning Objectives
- Recognize the role and applicability of Circular 230 and other regulatory frameworks in tax preparation.