Circular 230 Study guides, Class notes & Summaries

H&R Block Income Tax Course Exam With 100% Correct Answers 2023 Circular 230 Regulations governing the practice of attorneys, certified public accountants, enrolled agents, enrolled actuaries, and appraisers before the IRS. Disclosure The release of tax information by an IRS employee. Due Diligence Requirements that tax professionals must follow when preparing income tax returns. Noncompliance Failure or refusal to comply with the tax code. Privilege Protection ...

What is the 1st offense penalty for engaging in the practice of residential building without a license? - Answer Not less than $5K and not more than $25K and/or 1 year What is the penalty for engaging in the practice of residential building, resulting in a death? - Answer Not less than $5K and not more than $50K and/or 4 years On your individual builder's license application, what should you write as your "business address"? - Answer Your personal address What is the cost of the individ...

Circular 230 Test Which fees are a tax preparer NOT allowed to charge a client? - Contingent How long does a preparer have to hold onto a copy of their client's tax return? - 3 years Of the four types of sanctions on can receive from the IRS, which is most severe? - Disbarment Circular 230 was implemented after the ending of which war? - Civil War Explain how you would apply due diligence while researching to see if your client qualifies for the American Education Credit? - Fir...

H&R Block Income Tax Course Exam (2023) | Questions, Answers, & Term Definitions (100% Correct) H&R Block Income Tax Course Exam (2023) | Questions, Answers, & Term Definitions (100% Correct) Circular 230 - ANSWER - Regulations governing the practice of attorneys, certified public accountants, enrolled agents, enrolled actuaries, and appraisers before the IRS. Disclosure - ANSWER - The release of tax information by an IRS employee. Due Diligence - ANSWER - Requirements that tax profess...

Circular 230 Exam with 100% Correct Answers | Verified &Update |Rated A+ Which fees are a tax preparer NOT allowed to charge a client? - Contingent How long does a preparer have to hold onto a copy of their client's tax return? - 3 years Of the four types of sanctions on can receive from the IRS, which is most severe? - Disbarment Circular 230 was implemented after the ending of which war? - Civil War Explain how you would apply due diligence while researching to see if your client quali...

Which fees are a tax preparer NOT allowed to charge a client? - Contingent How long does a preparer have to hold onto a copy of their client's tax return? - 3 years Of the four types of sanctions on can receive from the IRS, which is most severe? - Disbarment Circular 230 was implemented after the ending of which war? - Civil War Explain how you would apply due diligence while researching to see if your client qualifies for the American Education Credit? - First, you must begin with gener...

Circular 230 - ANSWER Regulations governing the practice of attorneys, certified public accountants, enrolled agents, enrolled actuaries, and appraisers before the IRS. Disclosure - ANSWER The release of tax information by an IRS employee. Due Diligence - ANSWER Requirements that tax professionals must follow when preparing income tax returns.

VITA Circular 230 questions and answers

1. Tax planning has a higher likelihood of success when a tax practitioner is dealing with an open transaction instead of a closed transaction. a. True b. False 2. If a CPA becomes aware of an error in a tax return, he or she must immediately notify the IRS. a. True b. False 3. The Sarbanes-Oxley Act addresses issues of corporate governance as well as the independence of auditors. a. True b. False 4. An attorney, CPA, or enrolled agent may use advertising to obtain clients under Circular 2...

Circular 230 already graded A+ 2024/2025

H&R Block Income Tax Course Questions and Answers 100% Correct H&R Block Income Tax Course Questions and Answers 100% Correct H&R Block Income Tax Course Questions and Answers 100% Correct Circular 230 - ANSWER-Regulations governing the practice of attorneys, certified public accountants, enrolled agents, enrolled actuaries, and appraisers before the IRS. Disclosure - ANSWER-The release of tax information by an IRS employee. Due Diligence - ANSWER-Requirements that tax professiona...