Earned Income Credit (Completed)

Protect Your Practice and Spot EITC Problems When Filing Forms 1040
Earned Income Credit examines the earned income credit rules, the common errors made in claiming the credit, the consequences of its disallowance by the IRS and the requirements imposed on tax return preparers for earned income credit due diligence. The course discusses the rules applicable to everyone, the rules applicable only to individuals with a qualifying child and the rules that apply only when the taxpayer has no qualifying child. The requirements for tax return preparer due diligence are examined and best practices are identified. Join instructor Paul Winn for this two-hour CPE webinar that will protect your practice from IRS sanctions and scrutiny when working with EITC clients.

Who Should Attend
Practitioners who need a better understanding of the Earned Income Tax Credit.

Topics Covered

• Earned income credit rules
• Common errors made in claiming the credit
• Consequences of its disallowance by the IRS
• Requirements imposed on tax return preparers for earned income credit due diligence
• Rules applicable to everyone, individuals with a qualifying or no qualifying child
• Requirements for tax return preparer due diligence

Learning Objectives

• Identify and apply the earned income credit rules to determine if a taxpayer is eligible for the tax credit
• Identify the common errors committed in connection with the earned income credit
• Describe the consequences of the IRS' disallowance of the earned income credit
• Recognize the tax return preparer's EIC due diligence requirements

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None