learn the facts about irs due diligence contacts!preparer due diligence review complete and submit...
TRANSCRIPT
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Learn the Facts about IRS Due
Diligence Contacts!
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▪ Briefly review paid preparer due diligence requirements
▪ Share IRS due diligence contact methods
▪ Outline the consequences for failing to meet paid preparer due diligence requirements
▪ Provide information on resources designed just for preparers
Today our seminar will:
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As a paid tax return preparer, you must:
Preparer Due Diligence Review
Complete and
submit Form 8867
Compute the credits based on the facts
Ask all the right
questions
Keep records
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Preparer Due Diligence Review
Complete and Submit Form 8867
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Preparer Due Diligence Review
Compute the credits based on the facts
Ask all the right
questionsKeep records
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Contact Methods
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Letter 5025 – You may have not met due diligence requirements
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Letter 4858 - Alert to Return Preparers
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Letter 5364 - Missing Form 8867
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▪ Don’t ignore!
▪ Review your procedures
▪ Take additional steps
If you receive one of these letters…
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▪ IRS caller will provide IRS ID number
▪ IRS caller will refer to previous IRS contact
▪ IRS caller will ask security questions to confirm appropriate preparer on the line
▪ IRS caller will provide educational information
Is it really the IRS?
Educational Phone Calls
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Office Visit – Educational
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Video Placeholder – Part I
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Preparer Notification
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Video Placeholder – Part II
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The Exam
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VIDEO Placeholder III
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-Exam Closing-Letter 1125
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-Exam Closing -
Penalties and Next Steps
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Correspondence Due Diligence Exam
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Resources
Tax Preparer Toolkit:https://www.eitc.irs.gov/tax-preparer-toolkit/welcome-to-the-tax-preparer-toolkit
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Thank you for attending
Learn the Facts about IRS Due
Diligence Contacts!