A quarterly magazine from the National Association of Enrolled Agents
Winter 2024 vol.42 no.4
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

May/June 2021, Tax News Briefs, penalties, partnership, Schedule K-1, earned income tax credit, due diligence, EIC, additional child tax credit, ACTC, earned income, capital account, Form 1065, §6698, §6721, §6722, generally accepted accounting principles, GAAP, §6662, §704(b)