Is your tax preparer credentialed? Credentials dont guarantee honesty and competency, but it makes one wonder....if they are professionals, why dont they work towards credentials and better education? 1. EITC Warning Letters During November and December, the IRS will send letters to preparers suspected of filing inaccurate EITC claims. The letters detail the critical issues identified on the returns, explain the consequences of filing inaccurate claims for EITC and advise preparers that IRS will continue monitoring the types of EITC claims they file. Filing inaccurate EITC claims may result in penalty assessment, revocation of IRS e-file privileges and other consequences including barring preparers from tax return preparation. The IRS also plans to conduct visits to some tax preparers to provide education and outreach on meeting EITC due diligence requirements.
Posted on: Fri, 15 Nov 2013 14:25:07 +0000