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Tax Preparer- See3 With Complete Solutions And Correct Answers Latest Version
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Tax Preparer- See3 With Complete Solutions And Correct Answers Latest Version
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Tax Preparer- See3 With Complete SolutionsAnd Correct Answers Latest Version
Which of the following statements is true regarding records required to be maintained by return
preparers?
A tax return preparer must keep a complete copy of each return or claim for refund filed.
A tax return preparer must maintain a list of the names, Identification numbers, and tax years for all
prepared returns.
A tax return preparer shall retain a completed copy of tax returns, or a record of the name, tax ID
number, taxable year of the taxpayer, type of return or claim prepared, and name of the individual
preparer required to sign the return.
A tax return preparer is required to keep all records for a period of 10 years following the close of the
return period. Answer: A tax return preparer must keep the following records for a period of 3 years
after the close of the return period during which the return or claim for refund was presented for
signature to the taxpayer:
Retain a completed copy of the return, or
Retain a record of the name, taxpayer identification number, and taxable year of the taxpayer (or
nontaxable entity) for whom the return or claim for refund was prepared, and the type of return or
claim for refund prepared, and the name of the individual preparer required to sign the return.
A tax return preparer that does not meet this record-keeping requirement is subject to penalty under
§6695(d).
Even though a tax preparer is required to obtain and exclusively use a PTIN, in the event of losing it, he
can use his Social Security Number (SSN) as the identifying number to be included with the tax return
preparer's signature.
True
False Answer: False
2024
, A tax return preparer must obtain and exclusively use a PTIN, rather than a social security number (SSN),
as the identifying number to be included with the tax return preparer's signature on a tax return or
claim for refund.
An enrolled practitioner who prepares tax returns must always:
Sign the tax return in the preparer area when required by regulations.
Furnish an identifying number on any return he is required or permitted to sign.
Promptly return a client's tax records regardless of whether there is a dispute regarding payment of
fees.
All of these are requirements. Answer: Sign the tax return in the preparer area when required by
regulations.
Furnish an identifying number on any return he is required or permitted to sign.
Promptly return a client's tax records regardless of whether there is a dispute regarding payment of fee
Shirley provided a copy of a tax return she prepared for her client but didn't have the resources for her
own copy. If she just has the name and taxpayer identification number of the taxpayer, this is good
enough to have on file for the 3-year period following the close of the return. Answer: A tax return
preparer must keep a copy of the tax return, or retain, on a list, the name, taxpayer identification
number of the taxpayer for whom the return was prepared, type of return, and tax year for each return
prepared. The records must be available for inspection for the 3-year period following the close of the
return period during which the return or claim for refund was presented for signature to the taxpayer
E-file providers are subject to preparer penalties for violation of applicable laws. Which of the following
is a tax preparer?
An e-file provider who uses a computer to fill in the blank spaces on a fillable IRS form by using
information provided by the taxpayer.
An e-file provider who photocopies attachments to IRS forms and assembles them for mailing by
numbering the pages.
An e-file provider who electronically corrects transposed numbers on a completed tax return.
None of the above. Answer: NONE OF THE ABOVE
2024
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