The National Association of Tax Professionals

The National Association of Tax Professionals

Real World Ethics: EIC Due Diligence

  • Topic(s): Ethics
  • Presenter(s): Kathryn M. Keane
  • Session#: 915-24
  • Session Length: 100 minutes
  • Program: NATP 2015 Tax Forums & Expo
  • Date: Aug 26, 2015
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Real World Ethics: EIC Due Diligence - Details:

Earned Income Credit (EIC) audits are on the rise and prepare penalties for EIC noncompliance are at an all-time high. Don't be scared, be prepared! This session reviews the rules tax return preparers must follow for EIC, including ethical dilemmas they may encounter. Asking questions or obtaining a taxpayer signature may not protect you or your client from being hit with penalties for failing to comply with the rules.

Upon completion of the session, you will be able to:
  1. Identify EIC due diligence issues.
  2. List the risks you take if EIC due diligence is not followed.
  3. Accurately calculate the taxpayer's EIC.
  4. Identify potential issues as to dependency of children which affect EIC.
  5. List the necessary documentation and worksheets associated with EIC returns.