Tax season is here, but I won't be able to enjoy the golf course for months. Maybe if I hire some help, I could regain my title as the king of the clubhouse. Actually, who am I kidding? I was never the king, just a lowly caddy. Stuart, welcome aboard. I'm glad I found you at the last minute. Thank you, sir. I'm ready to shine. We have a full day ahead of us, but before we begin, did you review the EITC training materials that I sent? Oh yeah, those were a breeze for me. So, you feel prepared to conduct thorough interviews to determine head of household status and EITC eligibility, and you understand the four qualifying child tests for relationship, age, joint return, and residency? I am all over this. What about proper documentation? Did I mention I have a college degree? Why are you looking at me like that? You can't see the people. Let's get going. Your first client will be here any minute. It's looking pretty good, right? I've been stirring things up and spot-checking files. As you can see, I've got this situation under control. That's not what I'm saying. I'm wondering if you've done your due diligence. The IRS now imposes a $500 penalty for lack of due diligence. Stuart, if you don't practice due diligence, I could be fined as your employer, and our clients could face penalties as well. So, let's go over a few things to keep our finances and reputations intact. Ah, here comes Mrs. Romero. Lovely lady. I think she really likes me. Wait, where's the proof that her daughter lived with her for more than six months last year? No records, no residency requirement, no EITC. Wow, I got distracted. And what about Alice Jackson? Where's...
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Education credit due diligence Form: What You Should Know
This requirement to report changes in information in taxpayer account information is now applicable to all Forms 1040, 1040A, 1040EZ, 1040NR, 1040A2, and 1040NR-EZ Jan 13, 2024 — Credit filing deadlines. All taxpayers must use the Due Diligence training module and complete the actions described on Form 8867 to file their earnings credit or interest credit by the due date set by the Internal Revenue Code, including extensions. Form 8867 — Earned or Paid Preparer's Due Diligence Checklist Apr 12, 2024 — Earned Income Credit for Social Security Disability Sep 13, 2024 — Student qualifications. Generally, Social Security Disability benefits can be claimed for a student if all the following requirements are met. Mar 27, 2024 — Earned Income Credit for Ex-Families Sep 26, 2024 — Student qualifications. Generally, this credit is for the student's dependent child and not family members of the student. The student must be a legal ward of the deceased. Form 8867 — Earned Income Credit for Ex-families Aug 19, 2024 — Earned Income Credit for Ex-Spouses Sep 26, 2024 — Student qualifications. Generally, this credit is for the student's dependent child and not family members of the student. The student must be a legal ward of the deceased. Form 8867—Earned Income Credit for Ex-Spouses Aug 14, 2024 — Earned Income Credit This credit is available for the student's dependent child only if the student was the legal child of the deceased person. Form 8867—Earned Income Credit The Earned Income Credit (EIC) for Social Security Disability benefits may be taken only by a person receiving Social Security, the Supplemental Security Income program for survivors of disabled adults or survivors of blind or disabled adults, or the disabled dependents program for children of deceased individuals may be taken only if the student was the legal child of the deceased person. An additional person may claim this credit for the child, spouse, or dependent child of the deceased person. The Earned Income Credit (EIC) may be claimed by a nonresident alien or a dual-status alien for whom EIC is a qualifying child.
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