Final answer:
To satisfy his professional standards, Levi must meet the standard of competency and due care, which requires him to possess the necessary knowledge and skills to provide accurate and reliable tax advice to his client. The source of this professional standard is the Internal Revenue Service (IRS).
Step-by-step explanation:
Levi must meet the professional standard of competency and due care to satisfy his professional standards. This means that he must possess the necessary knowledge and skills to provide accurate and reliable tax advice to his client. He must also exercise diligence and care in performing his duties as a tax advisor.
The source of this professional standard is the Internal Revenue Service (IRS), which sets the guidelines and regulations that tax professionals must follow. The IRS provides resources, such as the Internal Revenue Code and the Treasury Regulations, that outline the standards and requirements for tax professionals.
It is important for Levi to stay updated with changes in tax laws and regulations to ensure that he remains in compliance with the professional standards set by the IRS.