Ten Indicators of a Potential Problem Client
Posted: 1 Jan 2007 Last revised: 27 Dec 2013
It has perhaps never been more important that a tax professional make wise decisions as to which clients to serve. A more aggressive enforcement effort by the IRS, the existence of ever more exotic tax planning devices, and swings in the economic successes and failures of the client all have raised the stakes for the tax professional in working ethically as the taxpayer's advocate in an engagement. There are a number of "red flag" indicators that must be observed and contemplated by the tax professional, any one or more of which might serve as a tip-off that it may be time to reconsider whether the client should be retained.
Keywords: tax planning, ethics, tax ethics, client, client problem, problem client, red flag
JEL Classification: H20, K34, K42, L84, M41
Suggested Citation: Suggested Citation