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Live Webinar

100-minute live streaming program
  • June 25
  • 1:00 - 2:40 pm EST

Earned Income Tax Credit (EITC) Due Diligence Requirements

June 25

Gain a better understanding of the earned income rules, common errors that can occur while claiming the credit, due diligence requirements, and current issues.

This topic helps tax preparers and their employers responsible for preparing the EIC to understand EIC due diligence requirements, EIC most common errors and the use of due diligence to avoid them. The material also explains best practices and interviewing tips to achieve compliance, consequences for non-compliant preparers, employers of preparers, and your clients. This information is critical for understanding new regulations that affect any practitioner who prepares a tax return that claims the EIC.

Learning Objectives

- You will be able to describe due diligence requirements.

- You will be able to explain best practices to preparers and clients.

- You will be able to distinguish what NOT to ask to avoid qualifying errors.

- You will be able to describe the consequences for the preparer and their employer.

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Summary of the Earned Income Credit Rules

Common Errors Claiming the Credit

EIC Due Diligence Requirements for Professional Tax Return Preparers

Penalties If Requirements Are Not Met

Consequences for the Tax Return Preparer

Consequences for the Preparer's Employer

Eligibility Rules

Tie-Breaker Rules

Due Diligence Questions to Ask to Avoid Qualifying Errors

Disallowance Due to Reckless or Intentional Disregard of EIC Rules

Disallowance Due to Fraud

Case Studies and Examples

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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Live Webinar Registration

  • AIPB 2.0
     
  • This program is acceptable for 2.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • Enrolled Agents 2.0
     
  • This program qualifies for 2.0 hours of Continuing Education Credit for enrolled agents under Treasury Department Circular #230 Section 10.6(g).
     
  • CPE 2.0 including Taxes 2
     
  • Lorman Education Services 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 web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.0 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Taxes for 2.0 hours. Prerequisite: basic knowledge of taxation. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, Inc. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Taxation for 2.0 hours.
     
  • Lorman Business Center, Inc. has 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. This program qualifies for 2.0 hours of continuing professional education.
     

Who should attend?

This live webinar is designed for accountants, tax managers, tax preparers, accounts payable professionals, bookkeepers, CFOs, controllers, enrolled agents, business managers and owners, presidents, vice presidents, CEOs, operations managers and consultants.

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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Stephen B. Jordan, EA

Stephen B. Jordan, EA

Stephen B. Jordan, EA

  • Owner at Stephen B. Jordan, EA for more than 30 years
  • More than 35 years’ experience in accounting, auditing and tax services
  • Experience: Tax Defense Network – Referral Partner; Lorman Education Services; IRS Form 1099 Reporting: What You Need to Know; Tips for Understanding IRS Field Audits; Understanding Complex Internal Control Issues; Tax Treatment of Gift Cards & Sales Certificates; Past community outreach volunteer, NH Pro-Bono, Low Income Taxpayer Project; past community outreach volunteer, Bentley Low Income Taxpayer Clinic; past adjunct faculty of accounting and taxation at: Franklin Pierce College, 1988-1989; New Hampshire College, 1993; Hesser College, 1999; KPMG Peat Marwick – Sr Accountant, 1982 -1985; Wolf & Company CPA’s PC – Audit Supervisor/CISA, 1985 – 1986; General Cinema Corp – Sr Internal Auditor, 1986 – 1987; Comprehensive Accounting Corporation – Affiliate/Accountant 1987 – 1990; has written accounting and tax articles for EA Journal and National Public Accountant professional journals; speaker at self-help tax strategy seminars
  • Member of the NATP, NAEA, MaSEA and NNESEA
  • Currently lives in Windham, NH. Outside his practice, enjoys a variety of fitness activities, cooking, reading and the arts
  • M.S.T. degree, William Howard Taft University; College for Financial Planning; M.B.A. degree, Indiana University; B.S. degree, University of New Hampshire
  • Can be contacted at 603-508-0124 or [email protected]
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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 400971
Published 2018
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