You have been working at a local CPA firm for the last 2 years. At the beginning of the year, you passed the last section of the CPA Exam. Last week, your CPA License came in the mail. Consequently, you have now decided to go into business for yourself. You have some savings and have a line on a bank loan for start-up costs. Additionally, you do not have a noncompete clause in your employment agreement with your current CPA firm, and you have your own customers. In your initial post, discuss the following:

Explain the authority that you have to practice and what duties you must complete practicing before the IRS.

Explain what restrictions, if any, you face in tax practice.

Explain on what ethical grounds you will base your practice and where you would draw the line to please your clients.