Registered Domestic Partner Disclosure Consent and Conflict of Interest
We have given some thought to the Sec 7216 disclosure requirements and conflict of interest issues as related to preparing RDP separate Federal tax returns. We have come to the conclusion that it may be appropriate to have the partners sign a consent to disclose their tax information to the other partner since for federal tax purposes the other partner is a third party. In addition, we feel there are potential conflicts of interest in preparing their separate Federal tax returns and the partners should be made aware of the potential for conflicts of interest.
To that end ClientWhys, Inc. has prepared a joint Sec 7216 disclosure consent and an engagement letter for RDP couples. In addition to adding the disclosure consent and engagement letter to chapter 1.12 of the Big Book of Taxes covering RDPs we have also made some minor revisions to the chapter. Although all these changes will be included in the next downloadable update of the text we felt those of you that prepare RDP returns may want have the consent form and engagement letter now for your tax season preparations. Click here to download an updated PDF of chapter 1.12.
Lee Reams Sr.
Lee T. Reams is the Chief Technical Officer of ClientWhys. He is also an Enrolled Agent having managed a 600-plus client tax practice. Educated as an engineer, with a Bachelor's Degree in Mechanical Engineering, Lee left his engineering career in 1975 to expand his part-time tax practice into a full-time career.