NATP and NSA ERC Letter to Commissioner

NATP, in conjunction with the National Society of Accountants, is asking for immediate additional guidance from Acting IRS Commissioner Douglas O'Donnell for tax preparers completing returns for clients claiming the Employee Retention Credit. "There has been ample guidance for business owners and their employees, but tax professionals have been left with many questions about due diligence when claiming this credit," Artman stated.

On behalf of their members, NATP and NSA are asking for specific guidance in these areas:

• What is our due diligence in preparing the affected income tax return when we did not prepare the ERC filings?
• What is our due diligence if we do not agree the client qualified for ERC or discover improper ERC filings?
• What is our responsibility when relying on what the IRS refers to as "third parties," not tax professionals, for ERC filings?
• What questions should our members be asking their clients?
• What is the tax professional's exposure to Circular 230, or even Title 26, tax preparer penalties?