Earned Income Tax Credit ON DEMAND

Overview

Inside the Earned Income Credit examines the earned income credit rules, the common errors made in claiming the credit, the consequences of its disallowance by the IRS, and the requirements imposed on tax return preparers for earned income credit due diligence. The course discusses the rules applicable to everyone, the rules applicable only to individuals with a qualifying child, and the rules that apply only when the taxpayer has no qualifying child. The requirements for tax return preparer due diligence are also examined, with best practices are identified.

Highlights

Eligibility to Receive EICEIC Rules Applicable to Everyone. EIC Rules That Apply Only if the Taxpayer has a Qualifying Child. Figuring the Amount of the Earned Income Credit. Incidence and Factors Leading to Earned Income Credit Errors. Common Earned Income Credit Errors. Claiming EIC after Disallowance. Client Consequences of EIC Disallowance. Tax Preparer Due Diligence a Statutory Requirement-IRC Section 6695. Failure to Meet Due Diligence Requirements.

Prerequisites

None.

Designed For

CPAs.

Objectives

Recognize the EIC eligibility rules that apply to all taxpayers. Identify the EIC eligibility rules applicable to taxpayers who have a qualifying child. List the EIC eligibility rules that apply to taxpayers who do not have a qualifying child. Recognize how the EIC for which an eligible taxpayer qualifies is determined, and more.

Preparation

None.

Notice

None.