What is the penalty for failing to file a tax return more than 60 days late for the 2025 tax year?
The lesser of $525 or 100% of the tax due on the return.
Fill in the blanks:
The Identity Theft Affidavit, Form 14039 can be mailed, faxed or ______ ______ now with the IRS?
electronically filed
What is the due diligence preparer penalty for the 2025 tax year?
$650 per failure
What is the e-file mandate threshold for information returns?
10 or more information returns.
What is the filing deadline for the FBAR?
(FinCen 114)
April 15, with an automatic extension until October 15.
What is the threshold for ‘seriously delinquent tax debt’ that can lead to passport revocation in 2025?
$64,000.00 (including penalties and interest)
What is the deadline for distributing Form 1099-NEC to recipients and the IRS?
January 31
What is the reporting requirement threshold for Form 1099-K in 2025?
Over $20,000 in gross payments AND over 200 transactions for goods and services
What is the deadline for retransmitting rejected 2025 Form 1040 returns on extension?
- April 20,2026, for rejected 2025 Form 1040 returns.
- October 20, 2026, for rejected 2025 timely-filed Form 1040 returns on extension from Form 4868
What is the purpose of the IRS Tax Pro Accounts?
- Submit authorization requests to a taxpayer’s IRS Online Account.
- Includes both power of attorney (Form 2848) and tax information authorization requests (Form 8821).
Most request are recorded immediately to the CAF database.
What is Form 8888, Allocation of Refund used for?
It is used to split a direct deposit refund between 2 or up to 3 accounts or between a direct deposit and a paper check.
What is the Transmission Perfection Period for electronically filed individual and business tax returns?
- Individual returns (Form 1040): 5 calendar days
- Business returns (Forms 1065, 1120, 1120-S): 10 calendar days
This is an official period of time during which a preparer can correct a previously rejected e-filing.
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Essential Tax Law Updates for Representation12
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Unit 1: Legal Authority of the IRS30
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Unit 2: Practice Before the IRS31
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Unit 3: Authorizations and Disclosures31
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Unit 4: Circular 230 and Best Practices31
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Unit 5: Practitioner Standards and Tax Advice28
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Unit 6: Due Diligence for Refundable Credits and HOH Filing Status19
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Unit 7: Recordkeeping Requirements and Penalties51
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Unit 8: Practitioner Misconduct23
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Unit 9: Tax Payments and IRS Collections48
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Unit 10: The IRS Examination Process32
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Unit 11: IRS Appeals and the U.S. Tax Court19
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Unit 12: The IRS E-File Program29
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Unit 13: Identity Theft and Safeguarding Taxpayer Data25
