Preparing Returns

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IdaRowe Tuttle

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Jul 15, 2013, 12:46:24 AM7/15/13

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For our first session, we will be looking at how we prepare returns. Who are tax professionals and who are in ancillary roles.

What are our duties in preparing the returns? For example when are you supposed to provide a taxpayer his copy of the return?

And there are Penalties! We have some terms we need to know. What is substantial authority? Do you know what it is?

What is Form 8275? It has something to do with the accuracy related penalty attributed to misconduct.

Here are a couple more for you. 6694 and 6695. Talk about penalties and misconduct.

We all know about the Privacy Act and that we do not talk about our clients, their situations or using their information after the taxes are done. and these are just a few of the items for next Tuesday.

If a tax return is rejected by the IRS how long to you have to get in touch with the taxpayer, if you cannot immediately fix the problem.