Due Diligence and the Tax Office On-Demand Webinar

Summary

Every paid tax preparer must meet due diligence requirements when claiming certain credits and head of household (HOH) filing status. Each year, the IRS contacts tax preparers to ensure they are meeting their due diligence requirements. Penalties can be assessed against the tax preparer per failure, per return. In this webinar, we’ll cover the four due diligence requirements and how they apply to the earned income tax credit (EIC), child tax credit/additional child tax credit/other dependent credit (CTC/ACTC/ODC), American opportunity tax credit (AOTC) and HOH filing status. Additionally, we will discuss the penalties for noncompliance.

Objectives

Upon completion of this course, you will be able to:

• Identify tax returns with due diligence requirements
• Apply the four requirements of due diligence
• Identify situations requiring additional information to meet due diligence requirements
• Prepare Form 8867, Paid Preparer’s Due Diligence Checklist
• Calculate penalties for failure to complete due diligence requirements

Course Details

This on-demand webinar includes the presentation slides, exam questions, recording of the webinar broadcast with review questions, and attendee top questions. CPE is issued after exam is successfully completed.