Save Your Practice: Due Diligence Requirements and Form 8867

Overview

IRS has accelerated its examinations of tax professionals. A little-known due diligence requirement has been greatly expanded by recent tax acts, including the Tax Cuts and Jobs Act. The rules require documentation that you questioned clients about their qualification for the child tax credit, tuition credit, head of household filing status and earned income tax credit. You need to update your checklists before busy season. We will guide you through the maze of return prepare due diligence through a CPE webinar taught by Greg White, CPA. This course will cover latest developments in due diligence. This fast-paced program will highlight legal and regulatory developments.

Highlights

What strategies are available to comply with the due diligence requirements? Documentation requirements. Credits covered by the due diligence requirements.

Prerequisites

Basic understanding of federal income taxation concepts.

Designed For

CPAs and in public practice and tax staff in private practice who have some experience with federal taxes.

Objectives

Identify credits covered by the due diligence rule. Implement the documentation standards for head of household status. Implement the documentation standards applicable to credits so you can avoid IRS penalties.