Although CPAs may find parts of these guidelines in the proposed and final IRS rules in Circular 230, the task force believes these core requirements apply to all tax-planning situations and are consistent with the current due diligence requirements in the SSTSs.
No, the interpretation does not change or elevate any standard or level of conduct the SSTSs prescribe.
Journal of Accountancy article explaining the SSTSs at www.
The SSTSs have their origin in the Statements on Responsibilities in Tax Practice (SRTPs), which the AICPA issued between 1964 and 1991 to give CPAs a "body of advisory opinions on good tax practice.
The new standards reflect previous committee decisions, including the conclusion that any enforceable standards should be restricted to AICPA members (the SRTPs referred to "CPAs" while the SSTSs refer to "members").
They do not provide the depth of guidance found in the SSTSs.
Several comment letters voiced concerns about apparent inconsistencies between the IRC and the SSTSs.
Some of the comments on the ED expressed concern about how the AICPA would or could enforce the SSTSs.
The SSTSs were written in as simple and objective a manner as possible.
The SSTSs were published in the Journal of Accountancy (See JofA, Oct.
As discussed earlier, several commentators asked for more definitions in the SSTSs.
The SSTSs appear to set forth the same protocols for members to use in resolving both issues.