Submit Form 8867 in the manner required and D. Keep all five of the following records for 3 years from the latest of the dates specified in the Form 8867 instructions under Document Retention. 1. A copy of this Form 8867. 2. The applicable worksheet s or your own worksheet s for any credit s claimed. 3. Do you certify that all of the answers on this Form 8867 are to the best of your knowledge true correct and complete. Complete this Form 8867 truthfully and accurately and complete the actions...described in this checklist for any applicable credit s claimed and HOH filing status if claimed C. Keep a copy of your documentation referenced in question 4b a copy of this Form 8867 a copy of any applicable worksheet s a record of how when and from whom the information used to prepare Form 8867 and any applicable worksheet s was obtained and a copy of any document s provided by the taxpayer that you relied on to determine eligibility for the credit s and/or HOH filing status or to figure the...amount s of the credit s. A For Paperwork Reduction Act Notice see separate instructions. Cat. No. 26142H. and 8867 Rev. 11-2024 Page 2 Form 8867 Rev. 11-2024 9a Have you determined that the taxpayer is eligible to claim the EIC for the number of qualifying children claimed or is eligible to claim the EIC without a qualifying child If the taxpayer is claiming the EIC and does not have a qualifying child go to question 10. Form Rev* November 2024 Department of the Treasury Internal Revenue...Service Paid Preparer s Due Diligence Checklist OMB No* 1545-0074 For tax year Earned Income Credit EIC American Opportunity Tax Credit AOTC Child Tax Credit CTC including the Additional Child Tax Credit ACTC and Credit for Other Dependents ODC and Head of Household HOH Filing Status To be completed by preparer and filed with Form 1040 1040-SR 1040-NR or 1040-SS* Go to www*irs*gov/Form8867 for instructions and the latest information* Attachment Sequence No* 70 Taxpayer name s shown on return...Taxpayer identification number Preparer s name Preparer tax identification number Part I Due Diligence Requirements Please check the appropriate box for the credit s and/or HOH filing status claimed on the return and complete the related Parts I V for the benefit s claimed check all that apply. EIC CTC/ACTC/ODC AOTC HOH Did you complete the return based on information for the applicable tax year provided by the taxpayer Yes No N/A or reasonably obtained by you. If credits are claimed on the...return did you complete the applicable EIC and/or CTC/ACTC/ODC worksheets found in the Form 1040 1040-SR 1040-NR 1040-SS or Schedule 8812 Form 1040 instructions and/or the AOTC worksheet found in the Form 8863 instructions or your own worksheet s that provides the same information and all related forms and schedules for each credit claimed. Did you satisfy the knowledge requirement To meet the knowledge requirement you must do both of the following. Interview the taxpayer ask questions and...contemporaneously document the taxpayer s responses to determine that the taxpayer is eligible to claim the credit s and/or HOH filing status.
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Instructions and Help about IRS 8867
How to edit IRS 8867
How to fill out IRS 8867
Instructions and Help about IRS 8867
How to edit IRS 8867
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How to fill out IRS 8867
Filling out IRS 8867 requires careful attention to detail. Follow these steps:
01
Obtain the IRS 8867 form from the IRS website or via a tax professional.
02
Provide your name, Social Security number, and filing status at the top of the form.
03
Answer all questions regarding your eligibility for the Earned Income Tax Credit (EITC).
04
Gather the necessary documentation to support your claims.
05
Sign and date the form before submission.
Latest updates to IRS 8867
Latest updates to IRS 8867
Keep an eye on the IRS website for updates regarding IRS 8867. Changes often relate to eligibility criteria or submission procedures, which can affect your filing process.
All You Need to Know About IRS 8867
What is IRS 8867?
What is the purpose of this form?
Who needs the form?
When am I exempt from filling out this form?
Components of the form
What are the penalties for not issuing the form?
What information do you need when you file the form?
Is the form accompanied by other forms?
Where do I send the form?
All You Need to Know About IRS 8867
What is IRS 8867?
IRS 8867 is the "Paid Preparer's Due Diligence Checklist" form that tax preparers must complete when filing for clients who claim the EITC. This form ensures that the preparer has exercised due diligence in confirming eligibility for the credit.
What is the purpose of this form?
The purpose of IRS 8867 is to protect taxpayers and the IRS by ensuring that tax preparers verify the eligibility of clients claiming the EITC. It helps prevent fraudulent claims and ensures compliance with tax laws.
Who needs the form?
Tax preparers who file federal tax returns for clients claiming the EITC need to complete IRS 8867. This responsibility extends to both paid preparers and volunteers under specific conditions.
When am I exempt from filling out this form?
You are exempt from filling out IRS 8867 if you are not a paid preparer or if the taxpayer does not claim the EITC. Additionally, if you are preparing a return with minimal complexity and the taxpayer meets the income thresholds without claiming the EITC, the form may not be required.
Components of the form
IRS 8867 consists of a checklist that includes questions regarding various eligibility criteria for the EITC. These components typically cover identification, residency, and income level checks.
What are the penalties for not issuing the form?
If a preparer fails to include IRS 8867 when required, they may face penalties up to $500 for each failure. This penalty aims to encourage compliance and due diligence in helping clients claim EITC accurately.
What information do you need when you file the form?
When filing IRS 8867, you will need detailed identifying information for both the tax preparer and the taxpayer, including Social Security numbers and filing status. Additionally, you’ll require documentation that supports the taxpayer's eligibility for the EITC.
Is the form accompanied by other forms?
IRS 8867 may need to be accompanied by the taxpayer’s Form 1040 or Form 1040A, as it relates to the claim for the EITC on those forms. Ensure all necessary documentation is submitted together to avoid processing delays.
Where do I send the form?
IRS 8867 should be filed along with the taxpayer's federal tax return. Depending on e-filing or paper filing, follow IRS guidelines for the corresponding submission method, ensuring all forms are sent to the correct address provided by the IRS for your filing status.
FAQ about IRS 8867
What should I do if I discover errors on my filed IRS 8867?
If you find mistakes on your filed IRS 8867, you should prepare and submit a corrected form as soon as possible. This may involve completing an amended version and clearly indicating the changes made. It's crucial to keep copies of both the original and corrected forms for your records.
How can I verify if my IRS 8867 has been received and processed?
To verify the status of your IRS 8867 submission, you can contact the IRS directly or use the IRS online tools available for tracking. Keep in mind that e-filed forms may have specific rejection codes, so familiarize yourself with these that could indicate an issue with processing.
What are the privacy measures in place for IRS 8867 filers?
When filing your IRS 8867, it’s important to ensure that your data is secure. The IRS has strict guidelines on privacy and data protection. You should also take precautions such as using secure internet connections and reputable e-filing software to enhance your data security.
Are there specific errors that commonly occur when filing IRS 8867?
Common errors when submitting IRS 8867 include incorrect taxpayer identification numbers, misreported income information, and amounts that do not align with supporting documentation. To prevent these errors, double-check your data against your financial records before submission.
What should I do if I receive an audit notice related to my IRS 8867 submission?
If you receive an audit notice related to your IRS 8867, it's important to respond promptly and gather the necessary documentation that supports your claims. Review your submitted information and ensure you can explain any discrepancies, as this will help in addressing the audit effectively.
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