2011 Regulation 4 Update - 2011 Regulation 4 Update...

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2011 Regulation 4 Update Regulation 4 Update for the 2011 Edition Last Updated March 3, 2011 Items Updated Since Last Posting; A.1. and A.2. VERY IMPORTANT NOTICE REGARDING ANCILLARY MATERIAL The R4 class has a significant amount of ancillary material that is presented in the middle of the textbook chapter. Please be aware that this material is important material that is relevant to your exam, and it should NOT be ignored. These sections of material (and those in other classes in our course) are deemed ancillary because they are easier topics to learn on your own, so we do not devote classroom time to them. We have chosen the more complicated areas to go over in class. Be aware that one of the toughest parts of Regulation is simply the breadth of the material and the fact that the examiners can ask questions from a very wide variety of topics. SECTION A: TEXT ERRATA A.1. R4-59, Item III (second paragraph): “AICPA Statements on Standards for Tax Services” The second paragraph of the introduction to this section on the AICPA Statements on Standards for Tax Services needs an edit due to a recent IRC change. Please make the following manual changes to that paragraph, as the IRC preparer penalties now apply to all federal returns, not just to federal income tax returns. “Although other tax practice standards (such as the Circular 230 and the penalty provisions of the Internal Revenue Code) are in effect, those standards are limited in that (i) Circular 230 does not
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  • Spring '11
  • W
  • Taxation in the United States, Income tax in the United States, DeVry/Becker¬†Educational¬†Development, Educational Development Corp

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2011 Regulation 4 Update - 2011 Regulation 4 Update...

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