Get the free Form 8867 Paid Preparers Due Diligence Checklist 2018. Form 8867 Paid Preparers Due ...

Form 8867 paid preparers due diligence checklist 2018Form 8867 Paid Preparers Due Diligence Checklist 2018Page 1form 8867 paid preparers due diligence checklist 2018Page 2form 8867 paid preparers

How to fill out form 8867 paid preparers

How to fill out form 8867 paid preparers

1. To fill out form 8867 paid preparers, follow these steps:
2. Gather all necessary information and supporting documents, including the taxpayer's identification number, income statements, and any applicable credits or deductions.
3. Download and print form 8867 from the Internal Revenue Service (IRS) website or obtain a copy from a local IRS office.
4. Read the instructions carefully to understand the requirements and guidelines for completing the form.
5. Start filling out the form by entering the taxpayer's personal information, such as name, address, and Social Security number.
6. Provide information about the paid preparer, including their name, firm name, and preparer tax identification number (PTIN).
7. Enter details about the tax return being prepared, such as the filing status and the type of credits or deductions being claimed.
8. Follow the specific instructions for each section of the form, providing accurate and complete information.
9. Review the completed form for any errors or missing information. Make sure all calculations are accurate.
10. Sign and date the form, both as the paid preparer and have the taxpayer sign their section as well.
11. Keep a copy of the completed and signed form for your records.
12. It is recommended to consult with a tax professional or refer to the IRS instructions for form 8867 if you have any doubts or questions about the filling process.

Who needs form 8867 paid preparers?

1. Form 8867 paid preparers is needed by tax professionals or individuals who are providing paid tax preparation services for others.
2. Any paid preparer who completes a taxpayer's return and claims certain refundable tax credits, such as the Earned Income Tax Credit (EITC), Child Tax Credit (CTC), or Additional Child Tax Credit (ACTC), must complete and attach form 8867 to the tax return.
3. The purpose of the form is to ensure that paid preparers have conducted the necessary due diligence to determine the taxpayer's eligibility for these tax credits.
4. It helps prevent errors and fraudulent claims, protecting both the taxpayer and the IRS from potential issues.
5. Therefore, tax professionals who specialize in preparing returns that involve these refundable tax credits are required to use form 8867 to meet their obligations and provide accurate information to the IRS.

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