![]() ![]() It is difficult to work out what is the appropriate ‘unit of analysis’ for financial centres. The Corporation of London sought the opinion of nearly 400 financial services businesspeople on financial centres in 2005, but what is a financial centre and why do financial centres matter? The answers to both questions are not straightforward.įinancial centres have existed throughout history from ancient, nearly legendary, entrepôts such as Babylon, Samarkand, Constantinople, Marrakech or Timbuktu through to London, New York City, Paris, Tokyo or Shanghai. ![]() They cannot represent clients whose returns they did not prepare and they cannot represent clients regarding appeals or collection issues even if they did prepare the return in question.Michael Mainelli, Executive Chairman, The Z/Yen Group ![]() They may only represent clients whose returns they prepared and signed, but only before revenue agents, customer service representatives, and similar IRS employees, including the Taxpayer Advocate Service. Limited Representation Rights: Preparers without credentials as mentioned above have limited practice rights. Tax professionals with these credentials may represent their clients on any matters including audits, payment/collection issues, and appeals. Unlimited Representation Rights: Enrolled agents (EA), certified public accountants (CPA), and attorneys (ATTY) have unlimited representation rights before the IRS. An important difference in the type of tax professionals is “representation rights”. However, tax professional differ by level of skills, education, and expertise. A tax professional with a IRS Preparer Tax Identification Number (PTIN) is authorized to prepare federal tax returns for you. ![]()
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