NATP offers series of worksheets, charts for tax pros to use during tax season
Worksheets include AMT NOL loss computation, like-kind exchange and due diligence questionnaire
By: National Association of Tax Professionals
APPLETON, Wis. - Feb. 11, 2021 - PRLog -- Individuals preparing tax returns for 2021 are encouraged to take advantage of the abundance of resources NATP offers, including worksheets, charts and more.
Additionally, NATP offers a due diligence worksheet to help tax professionals ensure they are following the regulations required by the IRS. Tax preparers who fail to follow due diligence requirements may be subject to a penalty of $540 per failure (up to $2,160 per return) for returns and claims for refund filed in 2021.
Worksheets and checklists available for free to NATP members include: mid-year tax planning checklist, tax preparer worksheet, per diem rates, like-kind exchange worksheet, NOL allocation, NOL/AMTNOL calculation and carryover, partner's outside basis, standard mileage rates and more.
These worksheets have been updated for 2021 to include information from the Coronavirus Aid, Relief and Economic Security (CARES) Act and the Consolidated Appropriations Act, 2021.
About NATP: The National Association of Tax Professionals (NATP) is the largest association dedicated to equipping tax professionals with the resources, connections and education they need to provide the highest level of service to their clients. 23,000 members rely on NATP to deliver professional connections, content expertise and advocacy that provides them with the support they need to best serve their clients. The NATP headquarters is located in Appleton, WI. To learn more, visit www.natptax.com.
Looking for a tax expert? Rhonda Collins, EA, CPA, MBA, is the director of tax content and government relations at the National Association of Tax Professionals (NATP). Collins has a diverse background of over 25 years in the industry. As a licensed CPA and EA, Collins can represent clients before the IRS. She is available for phone or video interviews to discuss federal tax topics including tax law change and its implications, taxpayer issues, tax preparer regulation and more. To schedule an interview with Collins, contact email@example.com.
Nancy Kasten, marketing and communications director