Target Audience: CPAs, EAs, Annual Filing Season Program Participants
Field of Study: Ethics (NASBA); Ethics (IRS)
Seminar Level: Beginner
IMPORTANT INFORMATION REGARDING CONTINUING EDUCATION CREDIT: THE IRS ACCEPTS THIS SEMINAR FOR ONE (1) CONTINUING EDUCATION CREDIT FOR ENROLLED AGENTS (EA) AND ANNUAL FILING SEASON PROGRAM (afsp) PARTICIPANTS. Others, PLEASE CONSULT WITH YOUR RESPECTIVE STATE LICENSING AGENCY REGARDING ACCEPTABILITY OF THIS CREDIT.
Note: the credit received from this seminar qualifies as continuing education that is required to obtain the voluntary AFSP – record of completion. however, this website does not offer the AFSP annual federal tax refresher (AFTR) course.
IRS COMMUNICATIONS AND LIAISON IS REGISTERED WITH THE NATIONAL ASSOCIATION OF STATE BOARDS OF ACCOUNTANCY (NASBA) AS A SPONSOR OF CONTINUING PROFESSIONAL EDUCATION ON THE NATIONAL REGISTRY OF CPE SPONSORS. STATE BOARDS OF ACCOUNTANCY HAVE FINAL AUTHORITY ON THE ACCEPTANCE OF INDIVIDUAL COURSES FOR CPE CREDIT. COMPLAINTS REGARDING REGISTERED SPONSORS MAY BE SUBMITTED TO THE NATIONAL REGISTRY OF CPE SPONSORS THROUGH ITS WEBSITE: WWW.LEARNINGMARKET.ORG.
DISCLAIMER: THIS SEMINAR WAS FILMED IN New Orleans, LOUISIANA, ON JULY 28, 2016, AND THE INFORMATION WAS CORRECT AT THE TIME OF RECORDING.
The IRS Wage and Investment Division presented this seminar at the 2016 IRS Nationwide Tax Forum.
This presentation will explain the expansion of preparer due diligence requirement to the other refundable credits, Child Tax Credit and American Opportunity Tax Credit. Learn more about the documentation and guidance to assist you with meeting all your compliance needs. Presenters will share additional information on Congress' request for reviews of Due Diligence efforts.
By the end of this presentation, you will be able to:
• Recognize the expanded due diligence requirements and which form must be filed
• Determine how the Form 8867 has been streamlined
• Identify the effective dates for Due Diligence on the Child Tax Credit and the American Opportunity Tax Credit
• Compute the potential Due Diligence Penalty
• Recall why the IRS will begin calling Paid Preparers
No prerequisites or advanced preparation are required for this seminar.