Return Preparers

Question 1

Tax Return Preparer

Answer 1

Prepares (or employs someone to prepare a return of tax or claim of refund) for money.

Question 2

A person is considered a preparer if he

Answer 2

prepares substantial part of the return

Question 3

A Tax Return Preparer MUST

Answer 3

Apply for PTIN prior to preparing returns

Sign the return

Indicate ID number on the Return

Give copy of tax return to client when signed

Question 4

What must the tax payer retain for 3 years after the close of the tax year period?

Answer 4

Completed copy of the return

Tax Payer ID

Tax Year

Name of preparer REQUIRED to sign the return

Question 5

A person is not considered a Tax preparer just because they

Answer 5

Prepare a return for their employer

Prepares a return in response to
a deficiency or
waver of restriction of an audit

prepares return as a fiduciary

miscellaneous action

Question 6

Return Period

Answer 6

from July 1 to June 30

Question 7

Violation Under section 6695

Answer 7

is $50 per issue up to $25,500 per year