Due Diligence at EP Tremblay

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Due Diligence at EP Tremblay

What you need to do if you are claiming tax credits

You may be affected by new IRS regulations if you will be filing for the Earned Income Tax Credit, Child Tax Credit, Additional Child Tax Credit or American Opportunity Tax Credit for the 2016 tax year.

New IRS Due Diligence rules require you to provide tax preparers with full and accurate information (regarding children, marital status, etc.). In addition, these rules require us to ask you additional questions if anything is unclear in order to determine your eligibility.

What is behind the new rules
The IRS has stepped up its efforts to ensure only those eligible receive credits. That means more paperwork and diligence on the part of tax payers and tax preparers alike.
Why is this worth it?

  • The extra diligence satisfies IRS requirements and helps ensure that only qualified taxpayers receive tax credits
  • A properly documented claim can avoid triggering an IRS audit or incurring penalties for tax preparers and taxpayers alike
  • It’s the right thing to do

Use our handy checklists

We’ve made it easy to gather information and document your claim:
Proof of a child’s age and residency
Earned Income Tax Credit
Child Tax Credit and Additional Child Tax Credit
American Opportunity Tax Credit

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Due Diligence at EP Tremblay

Clients are our first priority, and that includes ensuring that your tax return is always prepared accurately to meet the latest IRS requirements.