course

Top Ten Tips to Avoid Tax Preparer Penalties

(15)
4.533335
30 Enrolled
3 Hours (On-Demand)
3 CPE  
Not currently accepting new students

Preparer Penalties have been on the rise and in a recent statistical release, the IRS has been abating nearly 40% of all the penalties assessed. In this course, we review the various Preparer Penalties and learning the role the IRS agents play in determining whether you will be assessed a penalty.

We also review the abatement process and the necessary Forms and documentation required to have the penalty abated. This online video self study course consist of basis, at risk limitations, single versus multiple activities, carry-forwards, Form 8582 and Dispositions.

This course is taught by Professor Arthur Reed and falls under the CE Federal Tax category.

Learning Objectives

Upon successful completion of this course the participant will be able to understand the following 10 tips regarding avoiding preparer penalties and:

  • Tip #1 Know if you are the preparer
  • Tip #2 Don't be a lazy preparer
  • Tip #3 Remember you are running a business
  • Tip #4 Document your steps
  • Tip #5 Don't disclose taxpayer information
  • Tip #6 Continually read about tax preparer penalties
  • Tip #7 Know what the IRS is thinking
  • Tip #8 Don't simply accept the penalty
  • Tip #9 Don't take risky clients and Tip #10 Fire your risky clients
  • Learn about 3 recent court cases

Understand the TIGTA Report

Last updated/reviewed: January 22, 2023
6 Reviews (15 ratings)

Reviews

4
Anonymous Author
This was a very informative class. I appreciate the level of knowledge and range of resources used to help equip tax return preparers to be aware of and protect themselves against these penalties. The course was a little hard to follow due to the arrangement and sparse use of consistent captions for the materials presented. A few adjustments would make the material easier to follow and fit in the proper context within the discussion of each topic during the presentation.
4
Anonymous Author
Slides are preferable to watching a person speak. It would be easier reference for later as well. Otherwise, good information and good use of examples.
4
Anonymous Author
Very good refresher on tax preparer penalties. Very important for all tax professionals.
5
Member's Profile
It was a very informative and relevant course about the preparers' penalties.
5
Anonymous Author
Good informative, Learnt a lot, had couple of basic info as well
5
Anonymous Author
What a great topic....every module had loads of info and tips
Prerequisites
Course Complexity: Intermediate

No advanced preparation or prerequisites are required for this course.

Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
  Course Overview CPE
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to Top Tips to Avoid Preparer Penalties5:29
  Tip #1 - Know if you are the preparer9:20
  Penalty Overview5:55
  Tip #2 - Don't get lazy13:28
  Tip #3 - Remember you are running a business5:31
  Tip #4 - Document your steps4:45
  Tip #5 - Don't disclose taxpayer information9:05
  Tip #6 - Continually read about tax preparer penalties13:43
  Review 3 current 6701 Court Cases4:32
  Review- TIGTA Report of 201311:55
  Tip #7 - Know what the IRS is thinking8:27
  Tip #8 - Don't simply accept the penalty6:37
  Tip #9 - Don't take risky clients - Tip #10 - Fire your risky clients8:15
CONTINUOUS PLAY
  Top Tips to Avoid Preparer Penalties 1:47:02
SUPPORTING MATERIALS
  Top Ten Tips to Avoid Preparer Penalties Glossary/IndexPDF
  Civil PenaltiesPDF
  Preparer PenaltiesPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam