Episode Details

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The specific conduct standards—willful, reckless, or grossly incompetent—that can lead to sanctions under Circular 230. - The practical differences between censure (a public reprimand), suspension (temporary ban), and disbarment (minimum five-year ban). - How monetary penalties are calculated, up to the gross income derived from the misconduct, and can be applied to both individuals and firms. - That a firm can be held liable and penalized if it knew or reasonably should have known about a practitioner's misconduct. - The direct impact of sanctions on a practitioner's ability to represent clients before the IRS. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep