IRS News - Preparer Penalty Awareness: IRC 6695 (f) Negotiation of Check

30 Mar 2018 2:45 PM | Anonymous

Did You Know? Paid tax professionals aren’t permitted to endorse or otherwise negotiate a refund check issued to a taxpayer. This is true, even if the taxpayer requests their refund be directed into your bank account or in your name. Failure to comply could result in an Internal Revenue Code, Section 6695(f) penalty of $510 for each tax return with no maximum penalty amount and no reasonable cause exceptions.

For more information on Preparer Penalties visit: www.irs.gov/tax-professionals/summary-of-preparer-penalties-under-title-26

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