Course Information

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Tax Penalties: A Developing Danger
Author: CCH Editorial Staff

Description:
A revision to the preparer penalty standard in Code Sec. 6694(a), made by a provision in the Small Business and Work Opportunity Tax Act of 2007, affects virtually every tax professional. The provision changed the preparer penalty standard from a "realistic possibility of a tax position being sustained..." to a "reasonable belief that the position would more likely than not be sustained..." Practitioners and the IRS have been scrambling to understand the new more likely than not standard.

In June 2008, the IRS issued long-awaited proposed regulations under Code Sec. 6694. This course explains the Code Sec. 6694 changes, and highlights new questions generated by the proposed regs.
Course Details:
Price:  $30.00
Field of Study:  Taxes
Prerequisites:  Basic understanding of Code Sec. 6694 preparer penalty standards
Level:  Update
Advanced Preparation:  None
CTEC course number:  1075-CE-5415
Course was last updated on:  11/26/08
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Library:
This course does not belong to any Specialty Libraries.

Technical Requirements:
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Credit Available For: Units
CPE 2.0 CPE
QAS 2.0 CPE
Enrolled Agent (Accepted by the IRS) 2.0 CPE
CTEC Federal 2.0 CE

Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.

Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.

CCH has been approved by the California Tax Education Council to offer courses that provide federal and state credit towards the annual "continuing education" requirement imposed by the State of California. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

User Reviews
Reviewer: Scott B. submitted on 11/27/2009
Good explanations of preparer and non preparer
Reviewer: Lynn G. submitted on 12/25/2008
Well organized material Good information
Reviewer: Derrick B. submitted on 11/14/2008
Tax penalties have increased and therefore, tax practicioners must be aware of these changes
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