Professions clash on what is 'the practice of law.'

Article Abstract:

The expansion of accounting firms' practice into other areas of tax service is causing law professionals to fear that accountants are encroaching on their exclusive domains. The matter has become so heated that the American Bar Assn decided to launch the Commission on Multidisciplinary Practice (MDP) to investigate the entry of accounting firms into law practice. However, the legal profession has failed to successfully implement unauthorized practice of law (UPL) statutes for a variety of reasons. One of these is the decision of Congress to extend the roles of accountants in the tax area and to allow the attorney-client privilege to these professionals. Another reason is the lack of concise definition of UPL, which makes execution of UPL statutes difficult. Finally, the increase in the number of attorneys being hired by accounting firms is also posing a challenge. The MDP should invite accounting firms to participate in finding solutions.

Legal services, Offices of Lawyers, Accounting, auditing, & bookkeeping, Accounting & Auditing Services, Accounting, Tax Preparation, Bookkeeping, and Payroll Services, Accounting firms, Accounting services, Accountants, Unauthorized practice of law

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TRA '97 makes major changes to ELP audit procedures

Article Abstract:

Broad changes were made to the tax auditing rules for electing large partnerships (ELPs) by the Taxpayer Relief Act of 1997. The changes which simplify tax administration may profoundly influence individual partners. Various procedural changes were made which include changes to provisions concerning notice and judicial review. Close attention should be given to changes in computation methods which may drastically affect individual partners.

Tax Law, Public Finance Activities, Tax Administration, Partnerships, Accounting and auditing, Partnership, Tax auditing, Tax audits

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Cash in on expanded opportunities to use the case method

Article Abstract:

The author discusses the use of the cash method of accounting following court decisions rejecting the IRS' attempts to make taxpayers use the more complex accrual method.

Usage, Cash basis accounting

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