You may be affected by IRS regulations if you will be filing for the Earned Income Tax Credit, Child Tax Credit, Additional Child Tax Credit, American Opportunity Tax Credit or Filing as Head of Household.
IRS Due Diligence rules require you to provide tax preparers with full and accurate information (regarding children, marital status, etc.). In addition, these rules require us to ask you additional questions if anything is unclear in order to determine your eligibility.
What is behind the new rules
The IRS has stepped up its efforts to ensure only those eligible receive credits. That means more paperwork and diligence on the part of tax payers and tax preparers alike.
Why is this worth it?
The extra diligence satisfies IRS requirements and helps ensure that only qualified taxpayers receive tax credits.
A properly documented claim can avoid triggering an IRS audit or incurring penalties for tax preparers and taxpayers alike.
It’s the right thing to do.
Use our handy checklists
We’ve made it easy to gather information and document your claim: Proof of a child’s age and residency Earned Income Tax Credit Child Tax Credit and Additional Child Tax Credit American Opportunity Tax Credit
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Due Diligence at EP Tremblay
Clients are our first priority, and that includes ensuring that your tax return is always prepared accurately to meet the latest IRS requirements.