Episode Details

Statements on Standards for Tax Services (SSTSs) are the foundation for validating reputational integrity in the tax profession. The SSTSs are the enforceable tax practice standards for members of the AICPA.

To keep pace with the evolving tax profession, the updates to the AICPA's SSTSs will guide tax practitioners into the future, help them enhance their services and maintain their professional edge.

On this Global Ethics Day, in collaboration with the Journal of Accountancy podcast, April Walker, CPA, CGMA, Lead Manager — Tax Practice & Ethics, Association of International Certified Professional Accountants, representing AICPA & CIMA, is joined by David Holets, CPA, Partner – Crowe LLP, and Henry Grzes, CPA, Lead Manager — Tax Practice & Ethics, Association of International Certified Professional Accountants, representing AICPA & CIMA, to discuss the proposed revisions to the standards. Tune in to this special episode to learn more about the goals and timeline for these revisions and how you can provide your input.

What you'll learn in this episode

• What are the SSTSs are and why are they being revised now? (0.54)
• What are the proposed changes? (2.36)
• Other subjects considered but not included in the revisions (6.13)
• SSTSs resources available (8.05)
• How to submit comments to the proposed revisions by the due date (9.35)
• Invitation to comment (ITC) (10.50)
• Discussion about quality management (13.19)
• Project timeline (15.25)
• Closing thoughts (17.37)

AICPA resources

• Statement on Standards for Tax Services (SSTSs)— Examine the toolkit for the enforceable tax practice standards for members of the AICPA.
• Proposed revisions to the AICPA tax standards (SSTS)— Access a resource hub that provides the objective of the SSTS updates, project timeline and answers to frequently asked questions (FAQs). Please complete the Comments Form or email feedback to SSTScomments@aicpa-cima.com by Dec. 31, 2022. Comments will be available for viewing on the AICPA's website at the conclusion of the comment period.
• Circular No. 230 guidance — Title 31 United State Code section 330 was first published as the Horse Act of 1884 which granted the Secretary of the Treasury the authority to regulate agents representing claimants before the Treasury Department. Guidance was provided to these agents by the Treasury in the form of circulars.
• Professional responsibilities in data security for tax professionals — Safeguarding your client's data is paramount. Use these laws and guidelines to help you help your clients.

Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices.

This resource is part of the robust tax resource library available from the AICPA