Tax procedure starts with the preparation and filing of a return. This raises the question of what a return is and when a preparer is subject to potential preparer penalties. This program will focus on the definition of a return and offer many hypotheticals as to what is or isn't a return. The answers may surprise you. The program will further explore the various preparer penalties and potential defenses to the preparer penalties.

Learning Objectives: 

• Determine if the document filed is or isn't a return for statute of limitations and delinquency penalty purposes


• Identify a tax return preparer


• Determine the amount of the preparer penalty


• Give examples of defenses to the preparer penalties


• Recognize preparer penalties for willful, reckless, or intentional conduct