Pub 4687, EITC Due Diligence (PDF) - Internal Revenue Service-2025

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The document outlines the 2019 IRS due diligence verification requirements for tax returns claiming the Earned Income Tax Credit, Child Tax Credit, and American Opportunity Credit. It mandates taxpayers to provide detailed information about dependents, including their names, Social Security numbers, dates of birth, and living arrangements. Additionally, it includes questions regarding support provided for dependents, documentation for credits claimed, and specific inquiries for self-employed individuals. Taxpayers must sign the document to confirm the accuracy of the information provided.

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What are the 4 due diligence requirements for tax return preparers and EIC?

What is due diligence? Evaluate the information received from the client. Apply a consistency and reasonableness standard to the information. Make additional reasonable inquiries when the information appears to be incorrect, inconsistent, or incomplete. Document additional inquiries and the clients response.

What penalties may the IRS assess for failing to perform proper EITC due diligence?

For a return or claim for refund filed in 2025, the penalty that can be assessed against you is $635 per failure. Therefore, if due diligence requirements are not met on a return or claim for refund claiming the EITC, CTC/ACTC/ODC, AOTC and HOH filing status, the penalty can be up to $2,540 per return or claim.

What is the most common earned income credit error?

Your child doesnt qualify. Most errors happen because the child claimed doesnt meet the qualification rules: More than one person claimed the child. Social Security number or last name dont match. Married and filed as single or head of household. Over or underreporting your income or expenses.

What is the most common AOTC errors?

The most common AOTC errors are claiming the credit for a student: who didnt attend an eligible educational institution, who already completed the first four years of post-secondary education, for whom qualifying college or other post-secondary education expenses werent paid, or.

What is the error rate for EITC claims?

The IRS has estimated an EITC improper payment rate of between 22 and 26 percent of EITC payments and an over-claim rate of between 29 and 39 percent of dollars claimed.

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What are the most common errors for EITC and CTC?

Your Child Doesnt Qualify. Most errors happen because the child you claim doesnt meet the qualification rules: More than One Person Claimed the Child. Social Security Number or Last Name Dont Match. Married and Filed as Single or Head of Household. Over or Underreporting Your Income or Expenses.

What are the best practices to avoid due diligence errors for the EITC?

Final answer: The best practices to avoid due diligence errors for the Earned Income Tax Credit (EITC) include double-checking eligibility criteria, maintaining accurate records, and using reputable software or tax professionals.

What disqualifies you from Earned Income Credit?

If you received more than $11,600 in investment income or income from rentals, royalties, or stock and other asset sales during 2024, you cant qualify for the EIC. This amount increased from $11,000 in 2023. You have to be 25 or older but under 65 to qualify for the EIC.

Pub 4687, EITC Due Diligence (PDF) - Internal Revenue Service-2025

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What are the 4 due diligence requirements for tax return preparers and EIC?

What penalties may the IRS assess for failing to perform proper EITC due diligence?

What is the most common earned income credit error?

What is the most common AOTC errors?

What is the error rate for EITC claims?

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What are the most common errors for EITC and CTC?

What are the best practices to avoid due diligence errors for the EITC?

What disqualifies you from Earned Income Credit?

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