This CPE course provides a concise overview of the IRS Advisory Council (IRSAC), an advisory body that serves as a bridge between the Internal Revenue Service (IRS) and the general public. They gather feedback from taxpayers and work with the IRS to address issues and implement solutions. The course will explore the role of the IRSAC in improving communication and understanding between the IRS and the public, making recommendations to the IRS, and shaping and enforcing ethical standards in the accounting profession.

Learning Objectives:

Upon successful completion of this course, you will be able to:

• Understand the role and responsibilities of the IRSAC in the US tax system
• Identify the ways in which the IRSAC gathers feedback from taxpayers and makes recommendations to the IRS
• Describe the impact of the IRSAC’s work on the tax system and accounting profession
• Analyze the importance of trust and confidence in the tax system
• Evaluate the effectiveness of the IRSAC’s efforts to improve the efficiency and effectiveness of the IRS
• Analyze the role of the IRSAC in addressing taxpayer issues and implementing solutions
• Understand the importance of the IRSAC’s work in creating a more efficient and effective tax system
• Describe the IRSAC’s role in shaping and enforcing ethical standards in the accounting profession

Topics Covered:

• The role of the IRSAC in the US tax system
• Gathering feedback from taxpayers
• Making recommendations to the IRS
• Working with IRS employees to implement and maintain solutions
• The impact of the IRSAC on the tax system and accounting profession
• The IRSAC’s efforts to improve efficiency and effectiveness
• The importance of trust and confidence in the tax system
• The IRSAC’s role in shaping and enforcing ethical standards in the accounting profession

Who Will Benefit/Target Audience:

This course is designed for individuals interested in learning about the work of the IRS Advisory Council (IRSAC) and its impact on the US tax system, regulatory ethics, and the accounting profession. It will be particularly useful for tax professionals, accountants, and those working in the finance industry who are interested in understanding the role of the IRSAC in shaping and enforcing ethical standards in the profession.

Prerequisite Knowledge

Prior knowledge of the US tax system and accounting principles is recommended, but not required.