EITC Due Diligence summarizes the earned income credit rules, examines the common errors committed when claiming the credit, discusses the EIC due diligence requirements imposed on professional tax return preparers, and identifies the sanctions to which preparers and their employers may be subject for a failure to meet expected due diligence requirements.
Recognize the earned income credit eligibility rules;
List the common errors committed in connection with claiming the earned income credit;
Describe the consequences for the taxpayer of the IRS’ disallowance of the earned income credit;
Identify the tax return preparer’s earned income credit due diligence requirements;
List the sanctions that may be applied on a tax return preparer and his or her employer for a failure to meet due diligence requirements.
Paul J. Winn, CLU, ChFC has over thirty years experience in the life insurance and investment industry. As well as fifteen years as a financial writer, editor, and trainer. Paul has worked for Mutual Life Insurance Company of New York, Security Mutual Life Insurance Company, Principal Financial Group, and the Maryland Financial Corporation. Paul is a Published book author, writer & editor of major mutual life insurance company’s agent-training “university”, and the creator of more than 100 training courses in computer-based training, print and scripted classroom formats.
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