ENROLLED AGENT PART 3 EXAM WITH GUARANTEED ACCURATE ANSWERS |VERIFIED
2 views 0 purchase
Course
ENROLLED AGENT PART 3
Institution
ENROLLED AGENT PART 3
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 ...
ENROLLED AGENT PART 3 EXAM
ENROLLED AGENT PART 3 EXAM WITH GUARANTEED ACCURATE ANSWERS |
VERIFIED
What information does a preparer need to maintain for each return done? -
ACCURATE 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?
- ACCURATE ANSWER✅✅Yes because preparing tax returns is not considered
"practice before the IRS."
What are you required to do every year in order to participate in the Annual Filing
Season Program and to get a Record of Completion certificate? - ACCURATE
ANSWER✅✅You must:
- Take 18 hours of continuing education from IRS-Approved CE Providers
including: a six hour annual federal tax refresher course that covers filing season
issues and tax law updates, as well as a knowledge-based comprehension test
,administered at the end of the course by the CE Provider; Ten hours of other
federal tax law topics and; Two hours of ethics.
- Have an active PTIN.
- Consent to adhere to specific practice obligations outlined in Subpart B and
section 10.51 of Treasury Department Circular No. 230.
Who can represent an individual in front of the IRS without a power of attorney? -
ACCURATE ANSWER✅✅Immediate family members (spouse, child, sibling or
parent) can represent an individual but they cannot sign a power of attorney to
authorize somebody else to represent the individual.
By signing a form 2848, the representative declares under penalties of perjury that
he or she is aware of what? - ACCURATE ANSWER✅✅The regulation in
Treasury Department Circular No. 230.
When researching tax law for specific situations, what are considered reliable
sources of information? - ACCURATE ANSWER✅✅- The Internal Revenue
Code
- The Treasury Regulations
- Revenue Rulings
- Revenue Procedures
- Written Determinations
- Announcement and Notices
- Court Rulings
- The Congressional Bill or Law
- Congressional Committee Reports
When applying for an installment agreement, when is form 433-F, Collection
Information Statement, required to be filed? - ACCURATE ANSWER✅✅The
, Collection Information Statement is required to be filed when you owe less that
$50,000.
How long does the IRS have to release the lien after the taxpayer satisfies the
amount of tax due? - ACCURATE ANSWER✅✅30 days
When is the IRS able to file a tax lien? - ACCURATE ANSWER✅✅The lien
may be filed when the tax is assessed and the tax not paid within 10 days of
receiving the bill.
How long after the assessment of tax can the IRS collect outstanding taxes? -
ACCURATE ANSWER✅✅10 years
What information can an authorized e-file provider update with the IRS by letter
instead of online? - ACCURATE ANSWER✅✅- If the e-file provider is selling,
transferring, or otherwise discontinuing its e-file business.
- All contact information
- Contact persons
- Form types to be e-filed
- Transmission protocols
- Adding federal/state e-file
- Changes to foreign filer information
- Provider options
What is CNC (currently not collectible) status? - ACCURATE
ANSWER✅✅This is a very special arrangement where the IRS suspends all
collections activity. You can get this if the IRS decides that collecting the taxes
owed would cause you "hardship" as it is defined by the IRS.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller GRADEUNITS. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.99. You're not tied to anything after your purchase.
