Enrolled Agent Exam [Part 3] 34, Other Return Preparer Penalties Under Section 6695

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.

In this episode you will learn:

- The specific per-failure and maximum annual penalties for administrative duties like furnishing copies, signing returns, using a PTIN, and record retention.

- The significantly higher, uncapped penalties for negotiating a client's refund check and failing to perform due diligence.

- That most Section 6695 penalties can be abated if the failure is due to reasonable cause and not willful neglect.

- The critical due diligence requirements for credits like the EITC and CTC, including the use of Form 8867.

- How the EA exam tests these concepts through scenario-based questions requiring penalty calculations and identification of violations.

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