I've heard about this previously. Take a look at Rev Proc 2008-12. It's my understanding that if you wish to use the information gathered in order to prepare a tax return for any other purpose, you must obtain written approval from the client.
From: taxchat@yahoogroups.com [mailto:taxchat@ yahoogroups. com] On Behalf Of Arnold M. Socol
Sent: Wednesday, October 08, 2008 3:54 PM
To: taxchat@yahoogroups.com
Subject: Re: [taxchat] Engagement letter
Where did you hear this? The IRS, AICPA, who?Arnie----- Original Message -----From: Robert LukeySent: 10/08/2008 2:34 PMSubject: [taxchat] Engagement letter
I just heard yesterday that as of 01/01/09 in order for me to discuss something such as an IRA contribution with a client I will have to have the client sign an engagement letter before we can start. Does anyone else have any knowledge or thoughts on this? Or for that matter clients will have to sign an engagement letter before we discuss any topic that might benefit them in any way or point out the detrimental side of an issue. The way it sounds I will have a new client call to ask me what services I can provide and I will have to have them sign an engagement letter to talk to them about what to put into 2nd engagement that spells out what we are going to talk about.
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Robert Lukey EA CPA
IRS Circular 230 Disclosure: Unless expressly stated otherwise in this transmission, any tax advice contained herein, forwarded with or attached to this message was not and is not intended to be used, nor may it be relied upon or used, by any taxpayer for the purpose of (1) the avoidance of any tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions, or (2) promoting, marketing or recommending to another party any tax transaction or tax-related matters that may be addressed herein.
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