A tax advisor is an independent financial expert especially trained in tax law. Some countries require tax advisors to verify the balance sheets of companies above a certain size. Individuals usually require tax advisors to minimize taxation, to avoid learning the details of tax law in complicated financial situations themselves or to learn the details of tax law from a professional advisor.

In the United States, tax preparers are regulated but not licensed by the U.S. Treasury. There are penalties for failure to disclose the identity of the preparer on the return, for the failure to give the taxpayer a copy of the return, and for negligence in preparing the return.

Practice before the Internal Revenue Service is regulated by Circular 230, The Rules of Practice as published in the IRS Regulations. Most pracice is limited to attorneys, CPA's, and enrolled agents. Rendering tax advice is also regulated by Circular 230.

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tax_advisor (Greg Cook, EA, CPA) Thu, 03 Dec 2009 18:54:09 -0000
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