Archive for November 4, 2011

EITC Due Diligence Penalty Increased


The EITC due diligence penalty is jumping from $100 to $500 on returns filed after Dec. 31, 2011. Learn how to meet the requirements and avoid penalties with the online EITC Due Diligence training module.

Certain Enrolled Retirement Plan Agents Not Required to Obtain a PTIN

Professional tax preparation software, 1099 printing, w-2 printing

Notice 2011-91 


The regulations governing practice before the IRS, which are published in 31 CFR part 10 and are reprinted as Treasury Department Circular No. 230 (Circular 230), establish enrolled retirement plan agents as individuals who may practice before the IRS. Enrolled retirement plan agents’ practice is limited under section 10.3(e) of Circular 230 to representing taxpayers before the IRS with respect to issues involving the following programs or forms: employee plans determination letter program, employee plans compliance resolution system, employee plans master and prototype and volume submitter program, and the Form 5300 and the Form 5500 series that are filed by retirement plans and plan sponsors but not with respect to actuarial forms or schedules. Section 10.4(b) of Circular 230 requires individuals who want to become » Read more..