EITC Due Diligence ON DEMAND

Overview

In this detailed course on the Earned Income Tax Credit (EITC), tax professionals will benefit from a thorough exploration of the EITC eligibility rules, an area that affects a significant portion of tax returns in the United States. The course offers the dual benefits of identifying common EITC errors and equipping you with strategies to avoid them, thereby enhancing your proficiency and reliability as a tax preparer. It delves into the crucial aspect of EITC due diligence, empowering you with knowledge about the specific requirements and record-keeping practices necessary for supporting EITC claims. Additionally, the course highlights the potential penalties and employer sanctions associated with EITC non-compliance, ensuring that you are well-versed in all aspects of EITC regulations. By the end of this course, you will not only have a comprehensive understanding of the EITC process but also the skills to apply this knowledge effectively in your professional practice, thereby increasing your value to clients and enhancing your credibility in the field.

Highlights

Earned income credit rules. Due diligence requirements. EIC disallowance.

Prerequisites

None.

Designed For

CPAs, EAs, and other tax return preparers.

Objectives

Identify the earned income tax credit eligibility rules that apply to all taxpayers, including taxpayers who have a qualifying child and taxpayers without a qualifying child. List the most common earned income tax credit errors and their potential problem areas. Identify the additional questions tax preparers need to ask if taxpayer-provided information appears incorrect, inconsistent, or incomplete.

Preparation

None.

Notice

None.