The Internal Revenue Service has proposed regulations that would require paid tax return preparers to file a due-diligence checklist  with any federal return claiming the Earned Income Tax Credit. The IRS wants preparers to file Form 8867, the same form preparers are required to retain in their records, starting next year.

CCH has introduced ProSystem fx Knowledge Coach for Comps & Reviews, an application that is designed for firms that do not perform audits. Like the version for audits, the new Knowledge Coach offers real-time diagnostics and an extensive library of workpapers and tools.