No knock-knock joke: IRS goes on foot to investigate EIC claims

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in Small Business Tax

The IRS will begin knocking on the doors of hundreds of tax preparers in the next few months. It has launched a program for agents to investigate faulty claims for the earned income credit (EIC). The goal is to ensure greater compliance with the EIC rules.

No penalties will be assessed during these visits. However, the program will be coordinated with due diligence audits of preparers considered to have filed a large number of highly questionable EIC claims.

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