Meeting Your EITC Due Diligence
Target Audience: CPAs, EAs, RTRPs
Field of Study: Taxation (NASBA); Federal Tax (IRS)
Seminar Level: Beginner
IRS COMMUNICATIONS AND LIAISON IS REGISTERED WITH THE NATIONAL ASSOCIATION OF STATE BOARDS OF ACCOUNTANCY (NASBA) AS A SPONSOR OF CONTINUING PROFESSIONAL EDUCATION ON THE NATIONAL REGISTRY OF CPE SPONSORS. STATE BOARDS OF ACCOUNTANCY HAVE FINAL AUTHORITY ON THE ACCEPTANCE OF INDIVIDUAL COURSES FOR CPE CREDIT. COMPLAINTS REGARDING REGISTERED SPONSORS MAY BE SUBMITTED TO THE NATIONAL REGISTRY OF CPE SPONSORS THROUGH ITS WEBSITE: WWW.LEARNINGMARKET.ORG.
DISCLAIMER: THIS SEMINAR WAS FILMED IN ATLANTA, GEORGIA, ON JULY 10, 2012, AND THE INFORMATION WAS CORRECT AT THE TIME OF RECORDING.
The Wage and Investment operating division delivered this seminar at the IRS Nationwide Tax Forum in July 2012.
Learn what the new EITC due diligence requirements, finalized in December 2012, mean to you. EITC preparers and their employers need to know the new requirements. Learn what is required to know the law, ask the right questions, and get all the facts and document as you go.
By the end of this presentation you will be able to:
- Apply the four EITC due diligence requirements as defined in Internal Revenue Code §6695(g)
- Associate tax law changes that will affect the 2013 filing season
- Describe who needs to complete and submit Form 8867, Paid Preparer’s Earned Income Credit Checklist
- Recall important tips and questions to ask EITC clients with Schedule C to ensure the EITC is correct
- Detail the new real-time due diligence compliance program
No prerequisites or advanced preparation are required for this seminar.