Finanse publiczne · 05/12/2016

Tax Return Preparer Due Diligence Penalty Under Section 6695(g)

The IRS is issuing temporary regulations to modify the existing penalty under section 6695(g) of the Internal Revenue Code for tax return preparer due diligence, expanding its application to the child tax credit, additional child tax credit, and American Opportunity Tax Credit, in addition to the earned income credit. The regulations are based on recent law changes.