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ETHICAL CONSIDERATIONS PDF Print E-mail

It is the intention of the Tax Freedom Institute to maintain the highest degree of ethical standards consistent with those of your local licensing board. As such, TFI does not set, recommend, negotiate, charge or collect fees for any professional service. There shall be no fee splitting between TFI and any of its professional members. Fees paid to TFI by any of its members are based upon the published fee structure set forth in the Membership Levels and Benefits page without regard to any fees collected by the TFI member.

Fees charged by individual members of TFI for their services shall be set in accordance with professional ethics, local licensing guidelines, standards of practice in the community or such other legal and accepted means of setting fees. Any fees charged by TFI members for services performed on behalf of individual clients shall be the sole property of the professional performing the services and shall be paid by the client directly to the professional performing the service and not to TFI, its officers or employees.

TFI does not represent clients before the IRS or any judicial tribunal. Client representation must be done exclusively by professionals consistent with local licensing mandates. TFI shall maintain no control over the manner of representation in any particular case. Final decisions on the manner of representation and all questions of strategy in the case shall be the sole and exclusive province of the professional in concert with the client in accordance with all applicable ethical standards.

It is acknowledged that TFI shall have no financial or other pecuniary interest in the outcome of any case. It is further acknowledged that TFI shall have no control over whether any potential client will in fact retain any TFI member for representation. The decision to retain a TFI member shall be solely that of the individual client after consultation with the professional.

It shall be the responsibility of each TFI member to ascertain whether any aspect of TFI membership is in violation of local ethical standards. In accepting membership to TFI, the professional acknowledges that such membership does not offend any ethical standard of conduct established by local licensing or regulatory boards.

If at any time the professional becomes aware of any ethical conflict with local rules, it shall be his duty to immediately notify TFI of the nature of such conflict. TFI shall not pay nor be liable for any of the legal, accounting or other professional fees incurred by any client referred by TFI to any of its members.

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Featured Article

IRS NOW COMBING PROPERTY TITLE RECORDS
Compliance Initiative Gets Wings from Federal Court

As a measure of just how desperate the federal government is for revenue, the IRS is moving on a compliance initiative pointed at the federal gift tax laws. As I stated in the October/November 2011, issue of Pilla Talks Taxes, the compliance initiative involves determining the identities of people who may have avoided gift tax return filing and payment obligations incurred in connection with real estate title transfers. To discover this, the IRS will now begin combing through California property title records.

In this article, I review the impact of this initiative and what you need to know to protect yourself and your clients.

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