Section 7216 Tax Return Protections: Newest IRS Regs and Guidance
Complying With TD 9478 and New Revenue Rulings in Cross-Selling Services
Recording of a 110-minute CPE webinar with Q&A
This course will offer guidance to accounting firms on permissible ways to market additional services to tax return clients and comply with the revised Sec. 7216 regs and recently effective TD 9478 temporary regs on acceptable promotions, client confidentiality, and client consents.
- Regulatory and guidance background
- Historic restrictions on using client tax return info under Section 7216
- Revisions of Section 7216 regs effective Jan. 1, 2009
- Specific restrictions on cross-selling or cross-marketing
- Civil and criminal penalties
- Format and content of disclosure consents
- Methods to obtain or establish consent
- New regulations and guidance
- TD 9478 temporary regs
- Ability to use return info with limited consent, in some circumstances
- Revenue Ruling 2010-4
- Guidance on return preparer’s liability for misusing return info or sharing it with third party
- Revenue Ruling 2010-5
- Disclosure of return info to liability insurer
- TD 9478 temporary regs
- Alternatives for cross-marketing services within restrictions of Section 7216 and guidance
- What is, isn’t permissible or advisable
The panel will address these and other important aspects of Section 7216:
- Current restrictions: With what parties can tax return information be shared, and what specific information can they see?
- Acceptable cross-promotions: What kinds of information should marketing messages contain, and what kinds are taboo?
- Taxpayer consents: What formats are required, and when can return information be used for solicitation purposes without the client's explicit consent?
- Effective marketing to existing clients: Within the restrictions of Section 7216 and associated guidance, how can tax professionals help maximize promotional efforts?
Senior Program Analyst and Technical Advisor, Electronic Tax Administration
Internal Revenue Service
He has 35 years of experience at the IRS as an auditor, manager and in other roles. Over the last 15 years, he has... | Read More
He has 35 years of experience at the IRS as an auditor, manager and in other roles. Over the last 15 years, he has worked in electronic tax administration on strategic, policy, product and service initiatives.Close
Gerard Schreiber, Jr.
Schreiber & Schreiber CPAs
He focuses his tax and accounting work on smaller business and individual clients. He is a frequent writer and speaker... | Read More
He focuses his tax and accounting work on smaller business and individual clients. He is a frequent writer and speaker on topics including Sect. 7216, and he also is a member of the AICPA IRS Practices and Procedures Committee.Close
He represents clients on international, federal and state tax matters before tax authorities and courts, and also... | Read More
He represents clients on international, federal and state tax matters before tax authorities and courts, and also handles matters including voluntary disclosures, accounting methods and tax shelters for corporate clients. He has spoken on previous programs regarding the Sect. 7216 protections.Close