Overview
Institute for Professionals in Taxation (IPT)
The Institute for Professionals in Taxation (IPT) was founded in 1976 with a mission to uphold the uniform and equitable administration of ad valorem and sales and use taxes, with a focus on minimizing the associated costs of tax administration and compliance. The IPT supports a community of tax professionals by promoting best practices, offering educational resources, and maintaining a strict Code of Ethics and Standards of Professional Conduct for its members.
Contact Information
Address:
Institute for Professionals in Taxation
600 Northpark Town Center
1200 Abernathy Road, NE, Suite L-2
Atlanta, GA 30328
Phone: 404-240-2300
Fax: 404-240-2315
Website: www.ipt.org
Examples
Example 1: Professional Membership
Membership in the IPT provides tax professionals with access to an array of resources including educational programs, certification opportunities, and peer networking that can enhance their knowledge and career development in the field of tax administration.
Example 2: Code of Ethics
A tax consultant who is a member of the IPT adheres to the organization’s Code of Ethics, ensuring they provide services with integrity and uphold confidentiality and transparency in their tax advisory roles.
Frequently Asked Questions (FAQ)
What is the mission of IPT?
The mission of IPT is to promote uniform and equitable taxation practices, streamline tax administration, and reduce the costs associated with tax compliance for businesses and tax professionals.
Who can become a member of IPT?
Membership is open to tax professionals who are involved in the administration or compliance of ad valorem, sales, use, and excise taxes, and who exhibit a commitment to the organization’s ethical standards.
What educational opportunities does IPT offer?
IPT offers various educational programs, including webinars, workshops, and certification courses, to help professionals stay updated on tax laws, compliance practices, and ethical standards.
Why is the Code of Ethics important for IPT members?
The Code of Ethics ensures that members adhere to high standards of professional conduct, fostering trust and credibility among clients, employers, and the wider tax community.
Related Terms
Ad Valorem Tax
A tax based on the assessed value of an item, such as real estate or personal property. The term is Latin for “according to value.”
Sales and Use Tax
Sales tax is a consumption tax imposed by the government on the sale of goods and services, while use tax applies to goods and services purchased out of state but used in the domicile state.
Tax Compliance
The act of adhering to tax laws and regulations set forth by tax authorities, including timely filing of tax returns and accurate reporting of income and expenses.
Tax Administration
The process involved in the implementation of tax laws, including the collection of taxes, enforcement of tax rules, and management of tax records.
Online Resources
- Institute for Professionals in Taxation (IPT) Official Website
- Tax Foundation
- Internal Revenue Service (IRS)
References
- Institute for Professionals in Taxation (IPT). “About Us.” https://www.ipt.org/about-us
- Internal Revenue Service (IRS). “Tax Information for Individuals.” https://www.irs.gov/individuals
Suggested Books for Further Studies
- “Taxation of Business Entities” by James Pratt, William Nobil.
- “The Complete Guide to Sales and Use Tax” by Sydney S. Traum.
- “Principles of Taxation for Business and Investment Planning” by Sally M. Jones, Shelley Rhoades-Catanach.
