The Statements on Standards for Tax Services (SSTS) have common concepts running through most of them. Which of the following statements are parts of the SSTSs?
I.The preparer may in good faith rely upon, without verification, information furnished by the client.
II.There is confidentiality of the CPA-client relationship.
III.Taxpayer supplied estimates may be used to prepare returns if it is impractical to obtain exact data and the estimates are reasonable.
IV.The preparer must never disclose to the IRS any facts about the client's tax return information -- unless the client approves disclosure, or the preparer is required to do so by law.

Question

The Statements on Standards for Tax Services (SSTS) have common concepts running through most of them. Which of the following statements are parts of the SSTSs?
I.The preparer may in good faith rely upon, without verification, information furnished by the client.
II.There is confidentiality of the CPA-client relationship.
III.Taxpayer supplied estimates may be used to prepare returns if it is impractical to obtain exact data and the estimates are reasonable.
IV.The preparer must never disclose to the IRS any facts about the client's tax return information -- unless the client approves disclosure, or the preparer is required to do so by law.
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Quizplus · Accepted Answer

Statements I, II, III, and IV accurately reflect concepts found in the Statements on Standards for Tax Services (SSTSs). These include the ability to rely on client-provided information, the confidentiality of the CPA-client relationship, the use of reasonable estimates when exact data is not available, and the conditions under which a preparer can disclose tax return information.

The Statements on Standards for Tax Services (SSTS) Have Common