Episode
Enrolled Agent Exam [Part 3] 33, Preparer Penalties Under IRC Section 6694
- Podcast
- Finance Exam Prep
- Published
- Sep 7, 2026
- Duration seconds
- 256
- Processing state
not_requested- Canonical source
- https://open-exam-prep.com/
Actions
POST https://stenobird.com/v1/public/podcasts/finance-exam-prep-7658413/episodes/enrolled-agent-exam-part-3-33-preparer-penalties-under-irc-section-6694/transcription-requests
Idempotently request low-priority transcript generation for this episode.GET https://stenobird.com/podcast/finance-exam-prep-7658413/enrolled-agent-exam-part-3-33-preparer-penalties-under-irc-section-6694.md
Read the agent-friendly Markdown representation of this episode resource.
Summary
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The two primary penalties under IRC Section 6694 for unreasonable positions and willful or reckless conduct. - The distinction between the 'substantial authority' and 'reasonable basis' standards and when each applies. - How adequate disclosure, often using Form 8275, can help a preparer avoid penalties for positions lacking substantial authority. - The mechanics of the 'reasonable cause and good faith' exception as a defense against the unreasonable position penalty. - How liability can extend to non-signing preparers and the firms that employ them. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep