Tax Fraud and Ethics
Overview
Accountants not only require the expertise to complete the tax returns of clients, but they must also uphold ethical standards in the practice of tax preparation. Nevertheless, each year, investigators uncover instances of tax fraud either led or assisted by CPAs. This assignment provides an opportunity to demonstrate your understanding of tax preparation and the ethical requirements that go with it.
Prepare
Select one of the following articles to use for this assignment. Each of them describes a different tax fraud case:
- Georgia CPA Pleads Guilty to Promoting Syndicated Conservation Easement Tax Scheme Involving Fraudulent Charitable DeductionsLinks to an external site..
- Dallas Attorney and Members of Accounting Firm Charged with Promoting Illegal Tax ShelterLinks to an external site..
Instructions
Prepare a PowerPoint presentation of 10 or more slides in which you address the following about one of the tax fraud cases provided:
- Analyze the underlying causes of this tax fraud case using the fraud triangle.
- Explain 4 methods used by a tax preparer to detect tax fraud cases while preparing a tax return.
- Examine the CPA’s responsibility as defined by ethical principles when they discover client tax fraud. For each principle, identify the ethical code that contains it and explain how the principle is violated by the fraud.
- Determine the penalties a tax preparer will face if he or she fails to exercise due diligence. Provide support for the determination based on research and/or examples.
- Use 3 sources to support your writing. Choose sources that are credible, relevant, and appropriate. Cite each source listed on your source page at least one time within your assignment. For help with research, writing, and citation, access the library, or review library guides.
This course requires the use of Strayer Writing Standards (SWS). The library is your home for SWS assistance, including citations and formatting. Please refer to the Library site for all support. Check with your professor for any additional instructions.
The specific course learning outcome associated with this assignment is:
- Examine ethical perspectives in the practice of accounting for their impact on business decision-making.
- Evaluate a business tax scandal, including income taxes, to determine weaknesses that could lead to future problems.
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