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:
- Select common EITC errors, such as incorrect filing status
- Specify EITC due diligence requirements, including the requirement to complete and submit Form 8867 with each EITC return
- Identify a way preparers can assist their EITC clients who file a Schedule C
- Indicate consequences for a preparer’s non-compliance with the EITC due diligence requirements
- Identify types of documentation that can be used to help clients reconstruct their records
No prerequisites or advanced preparation are required for this seminar.