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Enrolled Agent Exam Part 3

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Enrolled Agent Exam Part 3 What information does a preparer need to maintain for each return done? - ✔✔-A preparer must maintain the taxpayer's name, tax ID number, taxable year of the taxpayer, ... name of the preparer, and the type of return or claim for refund prepared. Can you prepare tax returns when you are suspended from Practice before the IRS? - ✔✔-Yes because preparing tax returns is not considered "practice before the IRS." What are you required to do every year in order to participate in the Annual Filing Season Program and to get a Record of Completion certificate? - ✔✔-You must: - Take 18 hours of continuing education from IRS-Approved CE Providers including: a six hour annual federal tax refresher course that covers filing season issues and tax law updates, as well as a knowledge-based comprehension test administered at the end of the course by the CE Provider; Ten hours of other federal tax law topics and; Two hours of ethics. - Have an active PTIN. - Consent to adhere to specific practice obligations outlined in Subpart B and section 10.51 of Treasury Department Circular No. 230. Who can represent an individual in front of the IRS without a power of attorney? - ✔✔-Immediate family members (spouse, child, sibling or parent) can represent an individual but they cannot sign a power of attorney to authorize somebody else to represent the individual. By signing a form 2848, the representative declares under penalties of perjury that he or she is aware of what? - ✔✔-The regulation in Treasury Department Circular No. 230. When researching tax law for specific situations, what are considered reliable sources of information? - ✔✔-- The Internal Revenue Code - The Treasury Regulations - Revenue Rulings - Revenue Procedures - Written Determinations - Announcement and Notices - Court Rulings [Show More]

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