The "Statement on Practice in the Field of Federal Income Taxation" includes all of the following areas of mutual competence except
A)preparing federal income tax returns.
B)determining the tax effect of proposed transactions.
C)representing clients in criminal investigations.
D)representing taxpayers before the U.S. Tax Court.

Question

Quizplus · Accepted Answer

The "Statement on Practice in the Field of Federal Income Taxation" outlines the areas of mutual competence between attorneys and certified public accountants in regards to federal income taxation. These areas include preparing federal income tax returns, determining the tax effect of proposed transactions, and representing taxpayers before the U.S. Tax Court. However, representing clients in criminal investigations is not included as an area of mutual competence.