What is the primary purpose of Form 8867?

Form 8867, also known as the Paid Preparer's Due Diligence Checklist, is primarily used to claim tax credits related to earned income, specifically the Earned Income Tax Credit (EITC). The form is designed to ensure that paid preparers exercise due diligence, verifying that the taxpayer qualifies for the credits being claimed. This includes gathering necessary documentation and confirming eligibility requirements for the credits.

In context, the other options do not accurately reflect the purpose of Form 8867. Reporting income for tax purposes is typically done on different forms like the 1040 or attached schedules. Documenting business expenses is covered by forms such as Schedule C, and providing a summary of taxable assets does not pertain to this form's focus on tax credit eligibility checks. Understanding these distinctions highlights why the primary role of Form 8867 centers on claims related to earned income tax credits.