Master Circular 230 compliance and engagement letter best practices to protect your practice from penalties and professional liability.
In more recent times, the tax profession has become more engagement letter driven. While engagement letters seem to get longer each tax season, it is sometimes difficult to know when they are required and when they are not.
Can I answer a quick question from a client without an engagement letter? What happens if a client does not want to sign? Can a preparer ever be liable for penalties related to an engagement?
In this course, we will examine these questions and many others related to engagement letters and preparer liability. We will talk about what is required of tax professionals and how an engagement letter protects us. Finally, we will look at some best practices related to client engagement letters.
Who Should Attend:
Tax practitioners, small business owners, and other accountants looking to serve their companies or clients in the areas of payroll services or operations.
CPA, CFP, CLU, CPCU, MST, MBA
David Peters is the Founder and Owner of Peters Professional Education in Richmond, VA. He is registered with the U.S. Securities and Exchange Commission (SEC) as an Investment Advisor Representative (IAR) with Peters Financial LLC. He brings over 20 years of experience in financial services, including three years in the hedge fund industry and six years in insurance. David was the first Chief Financial Officer of Compare.com, where he served for more than three years. He holds four master’s degrees, contributes frequently to professional publications, and is a nationally recognized CPE instructor and discussion leader for Surgent seminars and a former instructor for Don Farmer. David received the AICPA Outstanding Facilitator Award in 2021, 2023, and 2024 as well as Surgent's Outstanding Discussion Leader awards in 2019 and 2022. He also co-authored the Virginia CPA Ethics course in 2018, 2019, and 2020, which is a requirement for all CPAs licensed in Virginia. Through Peters Professional Education, David is the author and instructor for over 125 recorded on-demand CPE courses and leads private trainings, in-person tax seminars, and quarterly live tax update webinars. His areas of instruction include accounting, finance, insurance, financial planning, and ethics, and he regularly teaches professionals across the United States.
