IRS sending EITC due-diligence warnings


In advance of the upcoming income tax filing season, the IRS is sending warning letters to tax preparers it believes may not be complying with due-diligence requirements for the earned income tax credit (EITC). The Service directs preparers to more information about the letters, the due-diligence requirements, and other aids and resources at its “EITC Information for Tax Professionals” webpage .

SPONSORED REPORT

A new line of business to consider

Technology assessments may open the door to new engagement opportunities for your firm. What is a technology assessment? How do you perform one? JofA Tech Q&A author J. Carlton Collins shows you in a detailed explanation.

FEATURE

Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.