The temporary regulations implement
recent law changes that expand the tax return preparer due diligence penalty under section 6695 (g) so that it
applies to the child tax credit (CTC), additional child tax credit (ACTC), and the American Opportunity Tax Credit (AOTC),
in addition to the earned income credit (EIC).
When one views such measures together with the «ramping up» of the US Department of Justice's investigations of alleged breaches of US anti-corruption
laws by foreign companies, it is clear that companies which ignore the potential for US / EU
law and the
recent changes in UK
law to
apply to their conduct do so at their peril.