Indicate whether each of the following parties could be subject to the tax prepa

Question

Indicate whether each of the following parties could be subject to the tax preparer penalties. a. I Om prepared Sally's return for $250. b. Theresa prepared her grandmother's return for no charge. c. Georgia prepared her church's return for $500 (she would have charged an unrelated part)- $3,000 for the same work). d. Geoff prepared returns for low- income taxpayers under his college's VITA program. e. I Wieldy prepared the return of her corporate employer. f. I feeder, an administrative assistant for an accounting firm, processed a client's return through Turbo Tax.

Explanation / Answer

A tax preparer can be penalized if he/she is unable to submit the work papers to the tax payers.

In the above question in option b, option d, option e and option f, the tax preparer prepared the work paper for the tax payer. So in those cases tax preparer is no penalized.

But in the case of option a and option c, there is no information about the submission of work papers to the tax payer. So in those case there is possibility of tax preparer penalties.

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