DUE DILIGENCE PENALTY

[Lee B]

Copied from Accounting Today:

"The final regulations implement tax law changes from 2015 expanding the scope of the tax return preparer due diligence penalty so it also applies to the Child Tax Credit, the Additional Child Tax Credit and the American Opportunity Tax Credit as well as to the eligibility to file a tax return or a claim for refund as a head of household."

Please note the last phrase as the final regulations state, "as well as the eligibility to file a tax return or a claim for refund as a head of household."

Woah, how pages will the due diligence documentation worksheets expand to now ?

 

 

[Margaret CPA in OH]

Wow, is right.  Retirement looks better every day!