Tax Due Diligence

This lesson covers required due diligence standards for tax preparers.

Due diligence is mandated by IRS regulations and applies to specific filing statuses, credits, and income situations. Failure to meet these requirements can result in preparer penalties, loss of e-file privileges, and disciplinary action.

This lesson explains:

• Required questions that must be asked

• Documentation that must be reviewed

• How to properly record verification

• When a return should not be filed

This training is mandatory for all preparers and applies to every filing season.