IRS Publishes Top Errors

The IRS recently listed the most common errors professional tax preparers made on returns. The list reflects 1040 form information received by the IRS through May 19, 1999.

  • Taxpayer identification numbers or names for dependents on returns didn't match the IRS or Social Security (SS) records. (The IRS didn't allow the exemptions or didn't allow all or part of the child tax credit.)
  • Primary Social Security numbers or names of dependents didn't match IRS or SS records. (The IRS made the corrections.)
  • The tax preparer incorrectly entered or calculated the earned income credit.
  • The Social Security number for children who qualified the taxpayer for an earned income credit didn't match SS records. (The IRS changed the earned income credit.)
  • A dependent's last name was incorrectly entered on the return.
  • The return didn't include nontaxable earned income from form W-2. (The IRS changed the earned income credit.)
  • The child tax credit was figured incorrectly.
  • The tax preparer failed to mark the box(es) for the qualifying child tax credit, line 6c(4). 


Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.