In short
Practitioners who are incompetent, act disreputably or willfully violate Circular 230 can be censured, suspended or disbarred from practice before the Internal Revenue Service, or face monetary penalties.
Key takeaways
- Censure is a public reprimand; suspension lasts for a set period; disbarment is indefinite.
- Practitioners get notice and the right to a hearing before an administrative law judge.
- Disreputable conduct includes giving false information and failing to file one's own returns.
Where it's tested
REG: Circular 230 & Practitioner Ethics — study notes, a five-minute revision sheet and practice questions.
Practise: 3 questions
Question 1 of 3 · 0 answered
Which sanction may the IRS impose on a practitioner under Circular 230?