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An Accountants Search For The Bat Cave – A Story About Networking – A Tax Season Rerun

September 30, 2009 2:11 pm / Leave a comment

By Stacie Clifford Kitts, CPA

If you are a seasoned professional, you already know.

However, there are plenty of young accountants and college students who are wondering just this – what is networking – do I need to do it – and where do I begin? Frankly, as a young staff, I questioned how my partners were heading out into the world and bringing back stacks of new clients for me to work on.

I was mystified and oh so innocent…..It looked like *magic*.

What else could it be, except maybe an underground society known as networkers, who ventured out into the world, performed some secret handshake, and produced clients from thin air?

Amazing!

But, where was this secret society? Did they have a secret location… like – The Bat Cave – a giant underground warehouse where they plucked potential clients off the shelf and checked them out at the front of the store?

Was that it?

I longed for someone to tell me…..I had to know the answer to this secret networking magic.

So on a particularly busy day, with a new client file in my hand, I stared into the face of my partner and asked. “Sir, where is the Bat Cave?”

“Oh my child,” he replied as he looked down and shook his head. “I know of no Bat Cave. But if you want, I will introduce you to Robin, one of my referral sources.”

O ‘M God – Awkward!

And so began my enduring quest for the mysterious Bat Cave, a secret place teaming with clients patiently waiting to be plucked from the shelf.

And yet, I wasn’t alone in my quest. For you see, as with all quests, I have my fellowship, my team of White Knights, a trusted alliance – my – referral sources – who like all trusted guides are there to lead the way.

So fellow seekers, during your networking journey, you are bound to roam lost and alone – until you too find your trusted alliance. And, In order to help you in this endeavor, I have graciously compiled these tips. Good luck travelers…. And let me know if you find the Bat Cave…because unfortunately, I never did:

1) Begin your quest by sharpening you craft. In order to sell your services, you need some services to sell. Have your “elevator speech” ready. Practice what you will say when people ask you questions about your profession, your employer, and your background. Treat it like an interview process because that is what it is – a five second interview meant to grab someone’s attention just long enough for them to find you interesting.

2) Socialize Socialize Socialize. Okay, so networking is directed socializing – meaning it’s about meeting people, in a particular profession, with a particular goal in mind. But as intimidating as that might sound, all it really is, is dating… In fact, networking for referral sources has many of the same elements as relationship dating. Don’t think so -Let’s explore the typical referral dating scenario:

First you attend a social event, you meet someone who interests you, you exchange phone numbers, you call the next day and set up a “referral date”, typically coffee, breakfast, lunch or dinner, you explore whether this person is someone who is going to help you get what you want, and then you consider if a more committed relationship is warranted.

Ummm sounds like a typical date to me. So sharpen your dating skills, be sure to follow up [you know, call the next day], be engaging, have fun, and for heaven’s sake, act as if you want to be there.

Now the question is – how to find people to “referral date.” Here are some ideas:

a. Join a business-networking group – this can help you to focus your energy towards people who have the same business goals.

b. Volunteer your time – besides just being a rewarding experience, you will undoubtedly broaden your social horizon.

c. Join social clubs that interest you such as a running club, bicycling club, softball team, the girl scouts… well you get the point – again the more people you know…

d. Tell people you are looking for clients – hey, it doesn’t hurt to ask – and if you don’t ask – frankly people might not realize that you are looking.

e. Get on the internet – write a blog, create a web site, join online social networking groups, send out email reminders with handy tidbits of info to people in your network – the point is to remind people you are around so when someone needs a service, your name is on their mind.

3) Be fearless in your quest. And I mean just that. Don’t be afraid – get out into the world and tell people what you do. Ask for business. Hand out your card – and do it over and over and over again until you find the right, group, network, or formula that works for you. Keep in mind that your partner’s journey may be different from yours. As networkers, we each have our own styles. So don’t get discouraged if someone else’s journey isn’t for you.

Tax Preparers – Are You Getting The Proper Written Consent From Your Clients?

September 29, 2009 2:11 pm / Leave a comment

[Stacie says: This information is published by the IRS on their website Aids to Preparing §721 Consent Forms. If you are not already aware of these rules, you better get on it!]

IntroductionTreasury Regulation §301.7216-3(a) states, “Unless section 7216 or §301.7216-2 specifically authorizes the disclosure or use of tax return information, a tax return preparer may not disclose or use a taxpayer’s tax return information prior to obtaining a written consent from the taxpayer…” [emphasis added].

The regulations go on to specify requirements for the consent forms. Revenue Procedure 2008-35 supplements the regulations and prescribes mandatory language required in consent forms depending on the situations under which consents are requested from taxpayers by tax return preparers. The Revenue Procedure also specifies format requirements for the consent forms produced on paper and electronically. The following aids outline seven section 7216 consent situations and the different consent elements relevant to each situation.

Format RequirementsPaper Consent Forms – All paper consent forms must be on 8½ x 11 inch or larger paper and printed in 12 point type (i.e., no more than 12 characters per inch).

Electronic Consent Forms – All consent form screens must pertain solely to the disclosure or use of tax return information authorized by the consent, except for computer navigation tools; text must be at least the same size as, or larger than, the normal or standard body text used by the website or software package for direction, communications or instructions; and there must be sufficient contrast between the text and background colors.

Electronic Signature RequirementsRefer to Revenue Procedure 2008-35, section 5.

Required Information and Mandatory LanguageThere are seven situations–six for disclosure and one for use of tax return information–described in the regulations and Revenue Procedure that call for different consent form information requirements and mandatory language. The following aids collect the required information fields and mandatory language for each of the seven situations that form the bases for the applicable consent form. Refer to Treasury Regulations §301.7216-3 and Revenue Procedure 2008-35, section 6 for more information and examples of acceptable consent forms.

Disclosure Situation 1
(Consent is sought for disclosure of tax return information in the context of tax return preparation or performance of auxiliary services (for example, where a tax return preparer seeks substantive advice from another tax return preparer which will affect the tax liability reported by a taxpayer); and Tax return information will not be disclosed outside the United States or any territory or possession of the United States)
____________________________________________________________
Federal law requires this consent form be provided to you. Unless authorized by law, we cannot disclose, without your consent, your tax return information to third parties for purposes other than the preparation and filing of your tax return and, in certain limited circumstances, for purposes involving tax return preparation. If you consent to the disclosure of your tax return information, Federal law may not protect your tax return information from further use or distribution.You are not required to complete this form. Because our ability to disclose your tax return information to another tax return preparer affects the service that we provide to you and its cost, we may decline to provide you with service or change the terms of service that we provide to you if you do not sign this form. If you agree to the disclosure of your tax return information, your consent is valid for the amount of time that you specify. If you do not specify the duration of your consent, your consent is valid for one year.

Duration of consent (optional):
I, [insert name of taxpayer] authorize [insert name of tax return preparer] to disclose [specify tax return information to be disclosed] to [identify the recipient of the tax return information] for the purpose of [specify the intent of the disclosure].Note: If there are multiple reasons for requesting disclosures they may all be listed in one consent form. See Revenue Procedure 2008-35, section 6 for examples.
If you believe your tax return information has been disclosed or used improperly in a manner unauthorized by law or without your permission, you may contact the Treasury Inspector General for Tax Administration (TIGTA) by telephone at 1-800-366-4484, or by email at complaints@tigta.treas.gov.

Taxpayer Signature:
Date:

_____________________________________________________________

Disclosure Situation 2
(Consent is sought for disclosure of tax return information in the context of tax return preparation or performance of auxiliary services; and Tax return information will be disclosed outside the United States or any territory or possession of the United States; Disclosure does not include the taxpayer’s social security number, and Disclosure does not include a document where the social security number is not fully masked or otherwise redacted )

__________________________________________________________
Federal law requires this consent form be provided to you. Unless authorized by law, we cannot disclose, without your consent, your tax return information to third parties for purposes other than the preparation and filing of your tax return and, in certain limited circumstances, for purposes involving tax return preparation. If you consent to the disclosure of your tax return information, Federal law may not protect your tax return information from further use or distribution.You are not required to complete this form. Because our ability to disclose your tax return information to another tax return preparer affects the service that we provide to you and its cost, we may decline to provide you with service or change the terms of service that we provide to you if you do not sign this form. If you agree to the disclosure of your tax return information, your consent is valid for the amount of time that you specify. If you do not specify the duration of your consent, your consent is valid for one year.

This consent to disclose may result in your tax return information being disclosed to a tax return preparer located outside the United States.
I, [INSERT NAME OF TAXPAYER] authorize [INSERT NAME OF TAX RETURN PREPARER] to disclose [SPECIFY TAX RETURN INFORMATION TO BE DISCLOSED] to [IDENTIFY THE RECIPIENT OF THE TAX RETURN INFORMATION] for the purpose of [SPECIFY THE INTENT OF THE DISCLOSURE].Note: If there are multiple reasons for requesting disclosures they may all be listed in one consent form. See Revenue Procedure 2008-35, section 6 for examples.
If you believe your tax return information has been disclosed or used improperly in a manner unauthorized by law or without your permission, you may contact the Treasury Inspector General for Tax Administration (TIGTA) by telephone at 1-800-366-4484, or by email at complaints@tigta.treas.gov.
Taxpayer Signature:
Date:
____________________________________________________________

Disclosure Situation 3
(Consent is sought for disclosure of tax return information in the context of tax return preparation or performance of auxiliary services; and Tax return information will be disclosed outside the United States or any territory or possession of the United States Disclosure includes the taxpayer’s social security number, or
Disclosure includes a document where the social security number is not fully masked or otherwise redacted Note that in order to disclose a taxpayer’s social security number to a tax return preparer located outside of the United States, both the tax return preparer located within the United States and the tax return preparer located outside of the United States must maintain an adequate data protection safeguard at the time the taxpayer’s consent is obtained and when making the disclosure. Rev. Proc. 2008-35 § 4.07.
An exception to the consent requirement exists where a tax return preparer located within the United States initially receives a social security number from a tax return preparer located outside of the United States and the preparer within the United States retransmits the social security number to the preparer that initially provided it. Treas. Reg. § 301.7216-3(b)(4). )
________________________________________________________________________________

Federal law requires this consent form be provided to you. Unless authorized by law, we cannot disclose, without your consent, your tax return information to third parties for purposes other than the preparation and filing of your tax return and, in certain limited circumstances, for purposes involving tax return preparation. If you consent to the disclosure of your tax return information, Federal law may not protect your tax return information from further use or distribution.You are not required to complete this form. Because our ability to disclose your tax return information to another tax return preparer affects the service that we provide to you and its cost, we may decline to provide you with service or change the terms of service that we provide to you if you do not sign this form. If you agree to the disclosure of your tax return information, your consent is valid for the amount of time that you specify. If you do not specify the duration of your consent, your consent is valid for one year.

Duration of Consent (optional):
This consent to disclose may result in your tax return information being disclosed to a tax return preparer located outside the United States, including your personally identifiable information such as your Social Security Number (“SSN”). Both the tax return preparer in the United States that will disclose your SSN and the tax return preparer located outside the United States which will receive your SSN maintain an adequate data protection safeguard (as required by the regulations under 26 U.S.C. Section 7216) to protect privacy and prevent unauthorized access of tax return information. If you consent to the disclosure of your tax return information, Federal agencies may not be able to enforce U.S. laws that protect the privacy of your tax return information against a tax return preparer located outside of the U.S. to which the information is disclosed.

I, [INSERT NAME OF TAXPAYER] authorize [INSERT NAME OF TAX RETURN PREPARER] to disclose [SPECIFY TAX RETURN INFORMATION TO BE DISCLOSED] to [IDENTIFY THE RECIPIENT OF THE TAX RETURN INFORMATION] for the purpose of [SPECIFY THE INTENT OF THE DISCLOSURE].Note: If there are multiple reasons for requesting disclosures they may all be listed in one consent form. See Revenue Procedure 2008-35, section 6 for examples.
If you believe your tax return information has been disclosed or used improperly in a manner unauthorized by law or without your permission, you may contact the Treasury Inspector General for Tax Administration (TIGTA) by telephone at 1-800-366-4484, or by email at

complaints@tigta.treas.gov.

Taxpayer Signature:
Date:
______________________________________________________________
Disclosure Situation 4
(Consent is sought for disclosure of tax return information in the context other than tax return preparation or performance of auxiliary services; and
Tax return information will not be disclosed outside the United States or any territory or possession of the United States)
_____________________________________________________________
Federal law requires this consent form be provided to you. Unless authorized by law, we cannot disclose, without your consent, your tax return information to third parties for purposes other than the preparation and filing of your tax return. If you consent to the disclosure of your tax return information, Federal law may not protect your tax return information from further use or distribution.You are not required to complete this form. If we obtain your signature on this form by conditioning our services on your consent, your consent will not be valid. If you agree to the disclosure of your tax return information, your consent is valid for the amount of time that you specify. If you do not specify the duration of your consent, your consent is valid for one year.
Duration of Consent (optional):

I, [INSERT NAME OF TAXPAYER] authorize [INSERT NAME OF TAX RETURN PREPARER] to disclose [SPECIFY TAX RETURN INFORMATION TO BE DISCLOSED] to [IDENTIFY THE RECIPIENT OF THE TAX RETURN INFORMATION] for the purpose of [SPECIFY THE INTENT OF THE DISCLOSURE].Note: If there are multiple reasons for requesting disclosures they may all be listed in one consent form. See Revenue Procedure 2008-35, section 6 for examples.

If you believe your tax return information has been disclosed or used improperly in a manner unauthorized by law or without your permission, you may contact the Treasury Inspector General for Tax Administration (TIGTA) by telephone at 1-800-366-4484, or by email at complaints@tigta.treas.gov.
Taxpayer Signature:
Date:
_______________________________________________________________
Disclosure Situation 5
(Consent is sought for disclosure of tax return information in the context other than tax return preparation or performance of auxiliary services; and
Tax return information will be disclosed outside the United States or any Territory or possession of the United States
Disclosure does not include the taxpayer’s social security number, and
Disclosure does not include a document where the social security number is not fully masked or otherwise redacted )

_______________________________________________________________________________

Federal law requires this consent form be provided to you. Unless authorized by law, we cannot disclose, without your consent, your tax return information to third parties for purposes other than the preparation and filing of your tax return. If you consent to the disclosure of your tax return information, Federal law may not protect your tax return information from further use or distribution.You are not required to complete this form. If we obtain your signature on this form by conditioning our services on your consent, your consent will not be valid. If you agree to the disclosure of your tax return information, your consent is valid for the amount of time that you specify. If you do not specify the duration of your consent, your consent is valid for one year.


Duration of Consent (optional):

This consent to disclose may result in your tax return information being disclosed to a tax return preparer located outside the United States.
I, [INSERT NAME OF TAXPAYER] authorize [INSERT NAME OF TAX RETURN PREPARER] to disclose [SPECIFY TAX RETURN INFORMATION TO BE DISCLOSED] to [IDENTIFY THE RECIPIENT OF THE TAX RETURN INFORMATION] for the purpose of [SPECIFY THE INTENT OF THE DISCLOSURE].`Note: If there are multiple reasons for requesting disclosures they may all be listed in one consent form. See Revenue Procedure 2008-35, section 6 for examples.
If you believe your tax return information has been disclosed or used improperly in a manner unauthorized by law or without your permission, you may contact the Treasury Inspector General for Tax Administration (TIGTA) by telephone at 1-800-366-4484, or by email at

complaints@tigta.treas.gov.

Taxpayer Signature:
Date:
_____________________________________________________________
Disclosure Situation 6
(Consent is sought for disclosure of tax return information in the context other than tax return preparation or performance of auxiliary services; and
Tax return information will be disclosed outside the United States or any territory or possession of the United States
Disclosure includes the taxpayer’s social security number, orDisclosure includes a document where the social security number is not fully masked or otherwise redacted
Note that in order to disclose a taxpayer’s social security number to a tax return preparer located outside of the United States, both the tax return preparer located within the United States and the tax return preparer located outside of the United States must maintain an adequate data protection safeguard at the time the taxpayer’s consent is obtained and when making the disclosure. Rev. Proc. 2008-35 § 4.07 )
____________________________________________________________________________
Federal law requires this consent form be provided to you. Unless authorized by law, we cannot disclose, without your consent, your tax return information to third parties for purposes other than the preparation and filing of your tax return. If you consent to the disclosure of your tax return information, Federal law may not protect your tax return information from further use or distribution.You are not required to complete this form. If we obtain your signature on this form by conditioning our services on your consent, your consent will not be valid. If you agree to the disclosure of your tax return information, your consent is valid for the amount of time that you specify. If you do not specify the duration of your consent, your consent is valid for one year.

Duration of consent (optional):

This consent to disclose may result in your tax return information being disclosed to a tax return preparer located outside the United States, including your personally identifiable information such as your Social Security Number (“SSN”). Both the tax return preparer in the United States that will disclose your SSN and the tax return preparer located outside the United States which will receive your SSN maintain an adequate data protection safeguard (as required by the regulations under 26 U.S.C. Section 7216) to protect privacy and prevent unauthorized access of tax return information. If you consent to the disclosure of your tax return information, Federal agencies may not be able to enforce U.S. laws that protect the privacy of your tax return information against a tax return preparer located outside of the U.S. to which the information is disclosed.
I, [INSERT NAME OF TAXPAYER] authorize [INSERT NAME OF TAX RETURN PREPARER] to disclose [SPECIFY TAX RETURN INFORMATION TO BE DISCLOSED] to [IDENTIFY THE RECIPIENT OF THE TAX RETURN INFORMATION] for the purpose of [SPECIFY THE INTENT OF THE DISCLOSURE].Note: If there are multiple reasons for requesting disclosures they may all be listed in one consent form. See Revenue Procedure 2008-35, section 6 for examples.
If you believe your tax return information has been disclosed or used improperly in a manner unauthorized by law or without your permission, you may contact the Treasury Inspector General for Tax Administration (TIGTA) by telephone at 1-800-366-4484, or by email at

complaints@tigta.treas.gov.

Taxpayer Signature:

Date:
_______________________________________________________________
Disclosure Situation 7
Use – All Situations
(Consent is sought for use of tax return information under any circumstance)
_______________________________________________________________
Federal law requires this consent form be provided to you. Unless authorized by law, we cannot use, without your consent, your tax return information for purposes other than the preparation and filing of your tax return.You are not required to complete this form. If we obtain your signature on this form by conditioning our services on your consent, your consent will not be valid. Your consent is valid for the amount of time that you specify. If you do not specify the duration of your consent, your consent is valid for one year.

Duration of Consent (optional):

I, [INSERT NAME OF TAXPAYER] authorize [INSERT NAME OF TAX RETURN PREPARER] to use [SPECIFY TAX RETURN INFORMATION TO BE USED] for the purpose of [DESCRIBE AUTHORIZED USE].Note: If there are multiple reasons for requesting consent to use tax return information they may all be listed in one consent form. See Revenue Procedure 2008-35, section 6 for examples.

If you believe your tax return information has been disclosed or used improperly in a manner unauthorized by law or without your permission, you may contact the Treasury Inspector General for Tax Administration (TIGTA) by telephone at 1-800-366-4484, or by email at complaints@tigta.treas.gov.

Taxpayer Signature:
Date:

IRS Page Last Reviewed or Updated: December 18, 2008

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