Marcus is preparing a taxpayer's return. The taxpayer is claiming the Earned Income Credit (EIC),...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Marcus is preparing a taxpayer's return. The taxpayer is claiming the Earned Income Credit EIC Child Tax Credit CTC Additional Child Tax Credit ACTC and the American Opportunity Tax Credit AOTC Which of the following best describes the actions Marcus must take to substantiate the taxpayer's eligibility for the credits?
Complete Form Paid Preparer's Due Diligence Checklist, and keep a copy for the taxpayer's record, do not submit Form to the IRS.
Ask additional questions but do not document the taxpayers answers to those questions.
Complete all worksheets used to compute the credit and submit all worksheets to the IRS.
Complete and submit Form Complete and keep all worksheets used to compute the credits. Ask additional questions and document the taxpayers answers. Retain a copy of documents provided by the taxpayer that were relied on when determining credit eligibility.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
