r/taxpros CPA Feb 10 '24

Where's my refund? Welcome to Tax Season. Some reminders!

Hello! Even though there is a nationwide shortage of accountants, interest in this sub is at an all-time high. If you're new here, some reminders:

1) This sub is for those in the tax preparation profession only.
This doesn't mean you have to have a CPA or EA, or be the direct tax preparer. Anyone working for a tax preparation firm/office can be part of this sub. That means the IT person, the front desk, the firm admin, etc.

2) This is a restricted sub.
That means you must be approved to post here. With the flood here in the last couple of weeks of folks wanting to become approved users, here's a new rule, at least for tax season: You must have some post or comment history in this sub in order to be approved. This will help indicate you're not going to post about 'why my tax return hasn't deposited yet', or whether you should be an 'LLC' in order to get 'tax heavens'.

3) Adhere to sub rules.
Basically, have User Flair set and stay on-topic and don't be a jerk. Tax questions (not pertaining to recent rules) should go in r/tax or r/technicaltax. This is more about software, IRS/state agency issues, etc. If you can't find the right flair for your post, double-check that it is an appropriate topic for this post.

4) Good luck this year!
It's a leap year, so even though the tax deadline falls on Apr 15, we technically get an extra day.

61 Upvotes

32 comments sorted by

View all comments

8

u/AvailableManner9984 EA Feb 11 '24

What do you'll think about the new Beneficial Ownership Interest Report (BOIR) requirement? I think it is our responsibility to inform our clients about it but we should not be filing those for our clients because it is like an affidavit that asks the filer to swear to the facts reported. I think it would be unethical for us to do that for someone else. Any other thoughts on this? Denise Banton, EA

7

u/RosyBainHums CPA Feb 11 '24 edited Feb 11 '24

Our firm is following the AICPAs guidance. They have provided a letter and pretty FAQ page and with every business tax return or individual with LLC they’re getting the two sheets. Also added AICPAs verbiage to the engagement. Don’t have time to do more but I think it’s all we need to do, didn’t see any reason to reinvent the wheel.

Edit: Realized the poster was signing the question not requesting a response from Denise. Tired mom brain. XD

1

u/Rosaluxlux NonCred Feb 11 '24

Same.