Artificial Intelligence Limitations & Problems, Part II: Avoiding Sanctions Under Circular 230 (277)

General Description:

This course covers the limitations of artificial intelligence searches and the related duties and responsibilities of tax return preparers under Circular 230.

Learning Objectives:

After completing this course, the participant will be able to:

• Identify common artificial intelligence limitations and errors that may lead to violations of Circular 230.
• List potential Circular 230 sanctions and penalties for tax return preparers.
• Identify sections of Circular 230 that are applicable to artificial intelligence usage by tax return preparers.
• Explain the duties and responsibilities of tax return preparers under Circular 230 that are applicable to artificial intelligence usage.
• Describe the difference between the substantial authority standard and the reasonable basis standard.
• Describe the steps needed to ensure that an artificial intelligence answer complies with the substantial authority or the reasonable basis standard.

Instructors:

Lauren Staub, CPA, is a senior manager at TaxOps in Denver who specializes in corporate tax compliance and accounting for income tax provision standards. With experience in managing ASC-740, valuation allowances, and uncertain tax positions, she collaborates closely with corporate clients to achieve project goals and improve processes and also helps clients optimize their tax functions. Her career began at Ernst & Young, followed by roles at Webroot and a mid-tier accounting firm in Denver. She holds a master’s degree in accounting and tax, as well as a bachelor’s degree in business administration from Colorado State University.

Related Courses: