Description
Ensuring your tax practice is secure and compliant is paramount and mandated. The first step to circumvent future problems begins with properly vetting new clients. Existing and accepted clients should be advised of the firm's policies and notified of the parameters of a tax engagement. Staff needs to be well-trained and up-to-date on the latest tax developments.
Due to the volume of personally identifiable information (PII) they collect, tax practices are targeted by cybercriminals. Implementing data security measures to avoid cybercrimes or unintentional disclosure of data is a must. A WISP (Written Information Security Plan) is required by the FTC for tax professionals. Failure to comply can subject a practice to criminal and civil penalties under IRC Sections 7216 and 6713.
Securing a tax business is a monumental task. However, there are specific steps firms can take to facilitate compliance and avoid sanctions. Understanding how best to communicate securely with clients, implement required policies, and respond to data security breaches is key.
Listen as our panel of accomplished tax experts details specific steps tax professionals can take to secure their businesses and safeguard client data.
Presented By
Ms. Billups is fueled by a burning desire to empower others both financially and mentally. She dedicates herself to helping individuals align their minds, body, and business. Having triumphed over an intense nearly 6 figure IRS audit without incurring any fines, Ms. Billups started Luxury Pro Tax Solutions to help fellow tax professionals in starting, growing, and scaling their businesses. Through her teachings, she provides invaluable knowledge on maintaining compliance with the IRS but also shares strategies for implementing efficient systems, ensuring seamless business operation, and ultimately, securing financial success.
Ms. Harris-Walton is an accomplished attorney with an illustrious reputation in tax law, Ms. Harris-Walton is affectionately known as the "TaxPros Attorney." She is renowned for her innovative TaxPros Concierge framework, a solution that ensures tax professionals remain in compliance with the IRS and tax laws, granting them relief for any legal entanglements or imprisonment. Ms. Harris-Walton's educational background is just as impressive, holding a Master of Law in Taxation (LL.M. in Taxation) from DePaul University School of Law. Driven by her passion and dedication to helping tax professionals and businesses resolve complex tax and corporate issues have made her a trusted advisor in the industry. With more than a decade of experience in the legal profession, Ms. Harris-Walton has garnered accolades for her expectational skills, unwavering attention to detail, and client-focused approach. She strives to guide her clients through the intricates of tax and corporate law. Ms. Harris-Walton is committed to helping her clients navigate the often complex and challenging world of tax and corporate world with ease and confidence.
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BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.
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BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).
Date + Time
- event
Wednesday, May 1, 2024
- schedule
1:00 p.m. ET./10:00 a.m. PT
- Securing your tax business: introduction
- Client due diligence
- Compliance with tax laws and regulations
- Data security measures
- Cybersecurity measures: WISP
- Employee screening and training
- Communications protocols
- Cooperation with regulatory authorities
- Internal investigation protocol
- Legal counsel and professional advisers
- Continuous improvement
- Conclusion and recap
The panel will cover these and other critical issues:
- Implementing a WISP
- Avoiding criminal and civil penalties for noncompliance with required cybersecurity measures
- Steps to screen and train employees
- Performing thorough due diligence when accepting new clients
- Cybersecurity measures to protect clients' PII
Learning Objectives
After completing this course, you will be able to:
- Identify components of a WISP
- Determine steps to take before accepting new clients
- Decide what cybersecurity measures should be implemented to safeguard clients' data
- Ascertain steps to take after a data security breach
- Field of Study: Taxes
- Level of Knowledge: Intermediate
- Advance Preparation: None
- Teaching Method: Seminar/Lecture
- Delivery Method: Group-Internet (via computer)
- Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
- Prerequisite: Three years+ business or public firm experience preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of individual income taxation, including itemized deductions, individual income tax credits, net operating loss limitations including carrybacks and carryforwards.
BARBRI is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.
BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).
BARBRI CE webinars-powered by Strafford-are backed by our 100% unconditional money-back guarantee: If you are not satisfied with any of our products, simply let us know and get a full refund. Contact us at 1-800-926-7926 .
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