- Study guides, Class notes & Summaries

Enrolled Agent - Part 3 Question and answers 100% correct Under Treasury Department Circular No. 230, which of the following is incompetence or disreputable conduct? - correct answers Conviction of any criminal offense involving dishonesty or breach of trust Which of the following from Circular 230 is correct regarding sanctions against an enrolled agent (EA)? - correct answers An EA can be censured How many future years will the IRS record to the Centralized Authentication File (CAF) ...

Enrolled Agent Part 3 Questions and Answers Already Passed What is the primary role of the IRS in tax administration? To enforce tax laws and ensure compliance with federal tax obligations. What is the purpose of the Taxpayer Advocate Service (TAS)? To assist taxpayers in resolving disputes with the IRS and ensuring taxpayer rights are protected. What is the main purpose of an Offer in Compromise (OIC)? To allow taxpayers to settle their tax liabilities for less than the full amo...

Enrolled Agent Part 3 Sample Questions with Verified Answers What is the purpose of Form 2848? a) To file an extension for a tax return b) To apply for an EIN c) To grant power of attorney to represent a taxpayer before the IRS d) To report estimated tax payments What does Circular 230 regulate? a) Taxpayer rights during audits b) The issuance of refund checks c) The practice of tax professionals before the IRS d) Deadlines for filing tax returns What is the maximum penalty for failu...

Enrolled Agent Exam Part 3 What information does a preparer need to maintain for each return done? - Answer- A preparer must maintain the taxpayer's name, tax ID number, taxable year of the taxpayer, name of the preparer, and the type of return or claim for refund prepared. Can you prepare tax returns when you are suspended from Practice before the IRS? - Answer- Yes because preparing tax returns is not considered "practice before the IRS." What are you required to do every yea...

What information does a preparer need to maintain for each return done? - ACCURATE ANSWERA preparer must maintain the taxpayer's name, tax ID number, taxable year of the taxpayer, name of the preparer, and the type of return or claim for refund prepared. Can you prepare tax returns when you are suspended from Practice before the IRS? - ACCURATE ANSWERYes because preparing tax returns is not considered "practice before the IRS." What are you required to do every year in order to particip...