Welcome Guest. Register Now!  

CPA Forums CPA related topics.

LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 01-31-2012, 03:07 PM
TaxGuru's Avatar
Tax Guru
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 2,413
Blog Entries: 3
Under what circumstances is the IRS authorized to impose penalties on a tax return preparer?

The IRS is authorized to impose penalties on a return preparer for multiple reasons. The IRS has specifically identified the following situations as shown below;
  1. a failure to sign a return.
  2. an understatement of a taxpayer's liability due to unreasonable position.
  3. an understatement of a taxpayer's liability due to willful or reckless conduct.
  4. a failure to furnish a copy of a return to a taxpayer.
  5. a failure to furnish the tax preparer's identifying number.
  6. a failure to retain required copies or lists.
  7. a failure to file correct information tax returns.
  8. the negotiation of check issued to a taxpayer.
  9. a failure to be diligent in determining a taxpayer's eligibility for the Earned Income Tax Credit.

Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.

Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Under what circumstances will the IRS abate Late filing penalties for a Late Filed Partnership Tax Return? TaxGuru Limited Liability Company 0 11-16-2011 11:08 AM
IRS Releases Specifications for Registered Tax Return Preparer Test Samatg Tax News 0 09-06-2011 07:56 PM
Tax Preparer Penalties increases substantially in 2007 TaxGuru Miscellaneous 1 11-30-2007 02:29 AM
Advice for Choosing a Tax Return Preparer Samatg General 0 01-23-2007 07:49 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 » Income
 » IRA/Sep
 » Medical
 » Payroll
Forum for CPAs
Financial Planning

» Recent Tax Q&A
No Threads to Display.