Tax Preparer Responsibilities

Tax return preparers are responsible for meeting federal due diligence requirements while accurately documenting, verifying, and maintaining the information required for tax return preparation. This webinar provides an overview of key tax preparer responsibilities and compliance obligations, with a focus on the due diligence requirements that apply to certain credits and filing statuses.

Participants will also explore data security requirements designed to protect sensitive taxpayer information and reduce the risk of identity theft and data breaches. The webinar provides practical guidance for maintaining compliance, fulfilling recordkeeping responsibilities, understanding IRC 6695(g) penalties, and implementing safeguards such as a Written Information Security Plan (WISP) and the IRS Security Six.

• Credits and filing status subject to due diligence requirements
• Four components of due diligence:
  • Form 8867
  • Computations
  • Knowledge
  • Recordkeeping
• IRC 6695(g) penalties
• Written Information Security Plan (WISP)
• IRS Security Six

• Identify credits and filing statuses subject to federal due diligence requirements.
• Understand the four components of due diligence: Form 8867, computations, knowledge, and recordkeeping.
• Recognize the documentation, verification, and recordkeeping responsibilities of tax return preparers.
• Understand IRC 6695(g) penalties associated with due diligence requirements.
• Review the role of a Written Information Security Plan (WISP) in protecting taxpayer information.
• Become familiar with the IRS Security Six and its role in safeguarding sensitive taxpayer data.

By attending this webinar, you will gain practical guidance to help you confidently meet your responsibilities as a tax return preparer. You will leave with a clearer understanding of how to maintain compliance while protecting sensitive taxpayer information from identity theft and data breaches.