After completing this course, you will be able to:
- recall the significance of Circular 230 and identify the persons covered by it
- remember key elements of Subpart A and Subpart B of Circular 230
- identify examples of conflicts of interest
- recognize examples of incompetence and disreputable conduct by tax practitioners
- recognize the correct application of the rules related to paid preparer due diligence for EITC claims
- identify the types of actions that do not meet the standards of due diligence
- identify the most significant criteria for determining EITC eligibility and recognize the questions that should be asked to establish eligibility correctly
- recognize the purpose of IRS Form 8867 and recognize cases in which it must be used
- recognize the most common errors on claims for the EITC
- recall the penalties and consequences for non-compliance
- identify the acceptable forms of taxpayer identification that may be used to claim the EITC
Tax Year: 2023