Understanding the Regulations Under Regulation IRC SEC. 7216 - Disclosure or use of Tax Information

Date: Tuesday, May 5, 2009
Time: 10:00 AM ET / 09:00 AM CT / 08:00 AM MT / 07:00 AM PT [Prevailing Time]
Presenter(s): Ralph G. Picardi, Esq., CPA, Partner in the firm of Lapping & Picardi
Objective(s):
This MAPCast will provide an overview of Section 7216 and the relevant regulations interpreting that statute, summarizing the key elements. The four types of consent applicable and the specific formats required for each will be defined and discussed.

In addition, the validity of electronic signature in meeting consent requirements will be addressed.
Field of Study: Taxes
Program Level: Basic
CPE Credit: 1 Credit Hour
Delivery Method: Group Internet-based

No advanced preparation or prerequisites are required for this course.
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Course Description

Note: This MAPCast is being presented by NAPLIA (North American Professional Liability Insurance Agency), whose goal it is to provide our AAA members with current and relevant information.

Effective 1/1/09, tax practitioners must comply with revised regulations intrepreting IRC Section 7216 concerning use and disclosure of information obtained during the return preparation process. Violation of these revised regulations expose tax preparers to civil and criminal penalties.

The recent revisions apply to a subpoena for tax information (any information gathered or produced in connection with tax services). In most cases, a subpoena is not enough to override the need for client consent and now, in many cases, that consent must be in a specified written form.

Presenter and Moderator Bios
Ralph Picardi is a partner in the firm of Lapping & Picardi. Mr. Picardi heads the firm’s litigation and risk management practice, which concentrates primarily in the area of defending accountants in matters of professional liability, as well as advising accountants and their insurers in matters of coverage, loss control and risk management through hotlines, seminars, risk management audits and publications.

Mr. Picardi is a former Business Litigation partner in the Boston law firm of Burns & Levinson, LLP, where, in addition to professional liability defense, he handled the full range of litigation needs of the firm’s business clients, large and small. Specifically, Mr. Picardi handled disputes involving securities, antitrust, intellectual property, minority stockholders, construction, real estate, tax, landlord/tenant, collection and basic contracts.

Before practicing law, Mr. Picardi practiced as a Certified Public Accountant for Ernst & Young in Boston. He is currently a member of the American Institute of Certified Public Accountants, the Massachusetts Society of Certified Public Accountants and the Professional Liability Underwriting Society.

A member of the Massachusetts and District of Columbia bars, he is also admitted to the United State District Courts for Massachusetts and the District of Columbia, the United States Tax Court, and the United States Courts of Appeal for the First, D.C. and Ninth Circuits.

He received a J.D. degree, cum laude, from University of San Diego School of Law in 1987 and served on the editorial board of the Law Review. He received a B.S. in Accounting, magna cum laude, from Boston College School of Management in 1981.

Cost
$25.00 for CPAFMA Members / $40.00 for Non-Members / Free for PAFMs

Delivery System

• All programs are delivered using the Zoom platform.
• Confirmations will include log-in instructions.
• Participants are able to participate using any device with an Internet connect (if the device does not have speakers, the participant can also dial-in) or they can participate with audio only by dialing in.
• All registrants will receive a link to the MAPCast’s recording by email within 48 business hours of event’s conclusion.
• There will be assistance available to help with technical and connectivity issues up to 10 minutes prior to the start of the presentation.

Registration

All registration is done on-line with the names and email addresses of each individual guest. Log-in details will be emailed to all registrants approximately 1-2 days prior to each session.

Refund Policy

CPAFMA will not issue refunds for MAPCasts. If a registrant is unable to participate in the MAPCast and sends written notice to info@cpafma.org 48 hours prior to the session, a credit will be provided for a future MAPCast. Alert the CPAFMA staff member monitoring the MAPCast if technical difficulties are encountered and technical support will be provided to eliminate problems with future MAPCasts.

Additional Information

Live participation is required for CPE credit and polling questions must be answered to show active participation. All registrants will receive an email following the session with links to the slides and/or handouts, and a link to the MAPCast recording (unless otherwise stated). If you are unable to participate in the live session, you can still watch the recorded session, but you will not be eligible for CPE credits.

For more information regarding CPAFMA MAPCasts or administrative policies such as complaint and refund, contact the CPAFMA Headquarters at 937-222-0030, or info@cpafma.org.