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Enrolled Agent Exam: Preparing Returns > Return Preparers > Flashcards

Flashcards in Return Preparers Deck (7)
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1
Q

Tax Return Preparer

A

Prepares (or employs someone to prepare a return of tax or claim of refund) for money.

2
Q

A person is considered a preparer if he

A

prepares substantial part of the return

3
Q

A Tax Return Preparer MUST

A

Apply for PTIN prior to preparing returns

Sign the return

Indicate ID number on the Return

Give copy of tax return to client when signed

4
Q

What must the tax payer retain for 3 years after the close of the tax year period?

A

Completed copy of the return

Tax Payer ID

Tax Year

Name of preparer REQUIRED to sign the return

5
Q

A person is not considered a Tax preparer just because they

A

Prepare a return for their employer

Prepares a return in response to
a deficiency or
waver of restriction of an audit

prepares return as a fiduciary

miscellaneous action

6
Q

Return Period

A

from July 1 to June 30

7
Q

Violation Under section 6695

A

is $50 per issue up to $25,500 per year