5 CPE Hours
Full Course Price: $44.50    
Formats: Hard Copy and PDF

This course looks at the refundable and nonrefundable individual federal income tax credits and discusses the nature of the credits, their eligibility requirements, timing, limitations, phase-outs (where appropriate), whether the credit may be carried over, the nature of any qualified expenses, and how they are calculated. It also examines the requirements for, and basic principles of, due diligence, the most common income tax credit errors encountered by the IRS, IRS guidance on addressing incomplete, inaccurate, and inconsistent client claims, taxpayer penalties for reckless and fraudulent claims, the preparer sanctions that may be applied for a failure to be diligent, and IRS Education and Compliance Actions.