Offices preparing returns that have had the Earned Income Tax Credit denied will be receiving compliance letters stressing the importance of operating with Due Dilligence in the future.  Earned Income Tax Credit is one of the most fraudulently used tools in individual tax preparation.  As a preparer you should be aware of the EITC due diligence requirements as well […]

When reviewing your clients’ prior year tax returns be sure to check to see if they claimed any college expenses, and if they did, they should have used the American Opportunity Credit.  This credit has a refundable aspect to it, similar to the Earned Income Credit, and is available for the first 4 years of […]