A slightly simplified version of Oglester's solution (the sequence doesn't require a select from DUAL:
INSERT INTO account_type_standard
(account_type_Standard_id, tax_status_id, recipient_id)
VALUES(
account_type_standard_seq.nextval,
(SELECT tax_status_id FROM tax_status WHERE tax_status_code = ?),
(SELECT recipient_id FROM recipient WHERE recipient_code = ?)
)