Avoid Penalties by Doing Your Due Diligence
Tax News Briefs

Avoid Penalties by Doing Your Due Diligence

New Due Diligence Requirements For tax year 2020, the Consolidated Appropriations Act, 2021, allows eligible taxpayers to elect to use their 2019 earned income to figure the 2020 earned income credit (EIC) or additional child tax cred... TheTaxBook

Reasonable Reliance on a Tax Adviser as Viewed by the Tax Court
Tax Court

Reasonable Reliance on a Tax Adviser as Viewed by the Tax Court

Circular 230, §10.35 Competence Enrolled agents, certified public accountants, and attorneys must demonstrate competence in their work before the Internal Revenue Service (IRS). According to Circular 230i §10.35(a), practitione... Sherrill Trovato, EA, USTCP