Listen in on this second hosting services episode to hear answers to questions coming into our hotline and received at the recent Engage conference. What you'll learn in this episode: • Hosting services explained (1:03) • Why hosting services impair independence (2:05) • What tax practitioners need to provide to their clients to meet the requirements of this interpretation (4:40) • About UNICAP calculations (6:25) • What qualifies as hosting when a third-party cloud service is used (7:20) • How the interpretation affects members' portals (9:47) • About services that are not considered hosting (11:13) • Members' responsibility to safeguard client information (13:50) • Final thoughts on professional judgment, retroactive responsibility, safeguarding client information, and work papers (15:25)
