Happy 4/15!  Today is April 15th, and the last day to timely file tax returns for your clients.  There are a few things to keep in mind as we pass the filing deadline. Rejected returns have until 4/20/2013 to be fixed and get accepted, and will still be considered “Timely Filed”. The IRS and state [...]

The latest update to your software includes new schemas and forms which have previously not been released due to their not having not been approved by congress and the IRS.  Call in to get updated! List of forms in start-up: Form 3800 General Business Credit Form 4136 Credit for Federal Tax Paid on Fuels Form [...]

If you have not yet taken your online RCB Compliance Training, be sure to do so by logging into your partner portal.  A PTIN is required for recording completion of the Compliance Training.  All preparers offering bank products this season must complete the REC Compliance Test.

Federal Direct will be closed Monday Dec. 24th and Tuesday Dec. 25th to celebrate the Christmas and will also be closed on Tuesday, Jan. 1st, New Year’s Day. Merry Christmas and happy holidays from all off us at Federal Direct!

As of right now, the law will not allow for taxpayer debt to be reported to credit bureaus, but looming over us is the $400 BILLION taxpayer debt.  The Government Accountability Office has been written to assess the feasibility of it. The theory is that taxpayers will be more will to pay if their credit [...]

Congratulations on your victory. It was truly a nail-biter. You campaigned well, and no matter what side of the fence voters are on, you are the man for 4 more years. Now, as tax practitioners what we need to know what is going on with the tax code!  Will you guys patch AMT; will the [...]

Our thoughts and prayers go out to all the north-easterners in the country who are battling hurricane Sandy. Please, take care of yourselves.

The IRS is expanding the number of taxpayers who will receive an Identity Protection Pin (IP PIN) for the upcoming season. All taxpayers that have had an identity theft indicator applied to their IRS tax account will receive an IP PIN that must be included on their 2012 Federal income tax return. This means that [...]

An interesting question was posed this morning that made me think and question it myself. That question was “why does tax season seem to begin later and later every year?” My first thought was simply the day of the week that that date range falls on, but then I pulled up the calendar. Tax season [...]

Although this is not something that one should ponder about his tax preparer, whether or not he/she has a PTIN, it does seem to be a way of possibly proving legitimacy as having had a PTIN. The Freedom of information act has given the world access to much of our personal information, and now, the [...]