Understanding the 2024 AICPA Tax Standards Update: Key Changes and Implications for Practice

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  • Location
    • Your Computer
      Your Space
      ISCPA Self Study, ID 00000
  • Credits
    • 2.00
  • Credit Type(s)
    • Taxes (Technical) (2.00)
  • Vendor
    • Idaho Society of CPAs
  • Level
    • Update
  • Fields of Study
    • Taxes
  • Message
    • When & Where You Want

Description

ON-DEMAND
Recorded on 11.30.23 - Has Not Been Updated

You will be required to pass a quiz in order to receive CPE credit

On May 13, 2023, the AICPA Tax Executive Committee ratified revised Statements on Standards for Tax Services, set to be effective from January 1, 2024. These updates entail a strategic reorganization of the existing standards, categorized by specific tax-related activities. Additionally, the revisions introduce new standards focusing on data protection, utilization of technological tools, and representation practices in dealings with tax authorities. Our 2-hour CPE course will provide an in-depth analysis of these new standards and offer a comprehensive overview of the restructured existing standards, emphasizing their practical implications for tax professionals.
  • Qualifies for IRS CE
  • This event will not have a NASBA number for reporting

Designed For

  • CPAs and tax professionals in public practice

Objectives

  • Understand the revisions made to the Standards for tax Services effective January 1, 2024

Highlights

  • What are the AICPA tax practice standards and why do they matter?
  • The four standards under the new organizational framework:
    • SSTS No. 1 General Standards for Members Providing Tax Services
    • SSTS No. 2 Standards for Members Providing Tax Compliance Services, Including Tax Return Positions
    • SSTS No. 3 Standards for Members Providing Consulting Services
    • SSTS No. 4 Standards for Members Providing Tax Representation Services (New)
  • New provisions added in SSTS No. 1:
    • 1.3 Data Protection
    • 1.4 Reliance on Tools

 

Advanced Prep

  • Download PDF manual - view your upcoming events in "My CPE" on website

If you need this reported to the IRS for CE credit, email CPE@idcpa.org

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Leaders

Ed Zollars

Edward K. Zollars, CPA is in public practice in Phoenix, Arizona as a partner with the firm of Thomas & Zollars & Lynch, Ltd. He has been in practice for over twenty five years, specializing in tax issues for closely held businesses and individuals. Ed has been professionally involved with both tax and technology issues, combing the two disciplines in starting the first tax podcast (Ed Zollars Tax Update, produced weekly dealing with current tax issues. He has been a member of AICPA Tax Division Committees dealing with tax and technology issues, and was the Tax Section's representative on three occasions to the AICPA's Top Ten Technologies project. Ed is also a member of the Phoenix Tax Workshop's Advisory Committee, and currently serves on the Tax Legislation Liaison Committee for the Arizona Society of CPAs.Ed was selected as a Life Member by the Arizona Society of CPAs in May of 2010. Ed is a co-author of the Arizona Income Tax Guide published by the Phoenix Tax Workshop, and has written articles published in Practical Tax Strategies and the Tax Adviser. He has been a frequent contributor to a number of professional tax discussion groups, and served as systems operator on the AICPA's Accountants Forum in the mid 1990s. He has spoken regularly on tax and technology topics since 1996, speaking before conferences sponsored by the AICPA and a number of state society of CPAs.

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