EITC Due Diligence

This course presents an overview of the earned income credit (EIC) rules and the common errors uncovered by the IRS in connection with claims for the credit.
$30.00
Prerequisites

Prerequisites are not necessary to participate in this course and no advance preparation is needed.

Course Description

This course presents an overview of the earned income credit (EIC) rules and the common errors uncovered by the IRS in connection with claims for the credit. It also provides an in-depth look at the EIC due diligence requirements, the result of a failure to meet those requirements, and an examination of EIC disallowance. Upon completion of this self-study course, you will be able to:

  • Recognize the earned income credit eligibility rules
  • List the most common EIC errors and their potential problem areas
  • Identify the additional questions tax preparers need to ask if taxpayer-provided information appears incorrect, inconsistent or incomplete
  • List the due diligence requirements a tax return preparer must meet when preparing a return claiming EIC
  • Recognize the records a tax return preparer is required to keep to support a client’s claim for the earned income credit
  • Identify the penalties that may be imposed on a tax return preparer for failing to comply with due diligence requirements when preparing a client’s tax return claiming EIC
  • Recognize the sanctions that may be imposed on an employer whose employee fails to comply with EIC due diligence requirements
  • Identify the additional requirements imposed on taxpayers claiming EIC following disallowance and the exceptions to those requirements
Affiliation* CPE Awarded Delivery Method Field of Study Course ID Sponsor ID
CPE Facts
NASBA 2 Self-Study Taxes N/A 103137
CTEC 2 Self-Study Federal Tax 3038-CE-0156 3038
IRS 2 Self-Study Federal Tax FQTGU-T-00228-18-S FQTGU
Texas State Board of Accountancy 2 Self-Study Taxes 100169 002921
Pennsylvania State Board of Public Accountancy 1 Self-Study (Non-Interactive) Taxes N/A

* Individuals with other professional credentials should check with their state licensing board or accrediting organization to determine if this program meets their continuing education requirements.

Affilliation

 

Drake Software is an IRS-qualified sponsor of continuing professional education.

 
 

Drake Software is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website, www.learningmarket.org

Drake Software has been approved by the California Tax Education Council to offer EITC Due Diligence, 3038-CE-0156, which provides 2 hours of federal credit and 0 hours of state credit towards the annual continuing education requirement imposed by the State of California. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA 95812-2890, at (877) 850-2832, or at www.ctec.org.

 

Drake Software is registered with the Texas State Board of Public Accountancy as a CPE sponsor. This registration does not constitute an endorsement by the Board as to the quality of our CPE program.

Course Policies

Send cancellation requests to Support@DrakeCPE.com. Requests must be made within 30 days of purchasing the course. To be granted a full refund, you must not have completed and earned continuing education for the course. No refunds will be issued after the course expiration date. For more information regarding the refund policy or to address concerns or complaints regarding courses, contact the DrakeCPE support team at Support@DrakeCPE.com.

Other Details
Last Revision March 2017
Course Expiration The CPE portion of this course expires one year from date of purchase