Question

June, a tax preparer, encounters a conflict of interest related to an individual client. Which source of rules would be most likely to lead June to understand her professional responsibilities?
1-AICPA bylaws.
2- IRS Circular No. 230.
3- GAO Yellow Book.
4-SEC Rule 2-01.

Answer 1

Answer:

Explanation:

For a tax preparer facing a conflict of interest related to an individual client, the most relevant source of rules and guidance would likely be:

2- IRS Circular No. 230.

Circular No. 230, titled "Regulations Governing Practice before the Internal Revenue Service," outlines the rules and standards of practice for tax professionals who represent clients before the IRS. It includes provisions addressing conflicts of interest, ethical considerations, and professional responsibilities specific to tax practitioners. The other options (AICPA bylaws, GAO Yellow Book, and SEC Rule 2-01) are relevant to other professional contexts but may not be as directly applicable to the specific concerns of a tax preparer dealing with individual clients before the IRS.