The IRS is now sending letters to preparers who are suspected of filing inaccurate EITC claims.
The letters pinpoint the primary issues identified on the returns, explain the consequences of filing inaccurate claims for the EITC, and advise preparers that the IRS will continue monitoring the types of EITC claims they file.
"Based on a recent internal review, a large number of 2011 tax returns you prepared with Earned Income Tax Credit (EITC) contained errors," a sample warning letter begins. One group of letters begins "You may have violated tax law by submitting inaccurate returns."
The letters pinpoint the primary issues identified on the returns and warn of future monitoring. The sample letter also details preparers' duties regarding proper filing for EITCs, including due diligence.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access