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My question concerns Circular 230 of the IRC. I have been…

My question concerns Circular 230...
My question concerns Circular 230 of the IRC. I have been advised that my client wants a new POA in an examine/audit. Client has been invoice for 5k. Circular 230 states that in case of a dispute over fees; state law prevails? Mo laws seems to agree with me. Client wants records without paying me. Am I within my rights to withhold records until paid? We have an engagement letter. Documents were prepared by me, nothing they prepared. I prepared tax returns and book keeping. I dont want to give them my QB files only paper P and Ls and that after they pay me. Thoughts?
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3/15/2018
Carter McBride
Carter McBride, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1,276
Experience: Adjunct Professor
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Hey! I'm Carter, I'm a CPA who specializes in Circ. 230 and tax ethics.

Work product is in the ownership of the accountant, unless the engagement letter specifically says you will create the document/file for the client.

In addition, the only requirement for you is to return any documents that help meet his Federal tax obligations. This is usually construed to be things like W-2s to file a tax return. That's the standard Circular 230 holds but it does allow for states to loosen it. So you can follow MO law as well on it.

Documents you prepared for the audit would not be considered something to help meet Federal obligations. Same with the Quickbooks file. There is nothing requiring you to provide that in electronic format, but it is probably safe to at least give P&Ls, G/Ls and such.

Let me know if you have any questions. If not, please leave a rating. Thanks!

Carter McBride
Carter McBride, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1,276
Experience: Adjunct Professor
Verified
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