Tax advisors should provide clients with the highest quality representation concerning Federal tax issues by adhering to best practices in providing advice and in preparing or assisting in the preparation of a submission to the IRS. Besides compliance with the standards of practice provided elsewhere in this part, best practices include:
Communicating clearly with the client regarding the terms of the engagement;
Establishing the facts, determining which facts are relevant, evaluating the reasonableness of any assumptions or representations, relating the applicable law to the relevant facts, and arriving at a conclusion supported by the laws and the facts;
Advising the client regarding the import of the conclusions reached; and
Acting fairly and with integrity in practice before the IRS.
Procedures to ensure best practices for tax advisors – Tax advisors with responsibility for overseeing a firm’s practice of preparing or assisting in the preparation of submissions to the IRS or of providing advice regarding Federal tax issues should take reasonable steps to ensure that the firm’s procedures for all members, associates, and employees are consistent with the best practices set forth in the above paragraph of this section.