Tax franchises can provide a convenient way for individuals to start a tax preparation business, but for some, they can be a hindrance to growth and profitability. If you find yourself in a tax franchise agreement that no longer serves your best interests, it is essential to explore your options for getting out. Here are […]
As tax season approaches, many people eagerly anticipate receiving a tax refund from the government. However, for some individuals, their refund may be subject to offset. This means that a portion or all of their refund may be withheld and used to pay off certain debts or obligations. In this blog post, we will explore […]
As a tax professional, you understand the complexities of tax laws and regulations. However, managing a successful independent tax office involves more than just filing returns during tax season. To provide the best service to your clients and grow your business, you need year-round tax support. In this blog post, we’ll explore the value of […]
As tax season rolls around, many people turn to DIY tax software to file their taxes. These programs can be a convenient and cost-effective way to file your taxes, but they also come with some risks. One of the biggest risks of using a DIY tax program is the possibility of making mistakes that could […]
As the owner or operator of a tax office, it’s essential to take measures to protect your Electronic Filing Identification Number (EFIN). Your EFIN is a unique identifier assigned by the IRS that allows you to electronically file tax returns on behalf of your clients. It’s important to keep this number secure because it can […]
IRS Notice 2022-36 waives late filing penalties for 2019 and 2020 returns filed late but on or before Sept. 30, 2022. Applies to income tax returns: 1040, 1040NR 1041 1065, 1120, 1120S 990 PF And more Does not apply to estimated tax, underpayments, preparer penalties If late filing […]
One component of becoming an e-file provider is getting fingerprinted for a background check. This has traditionally been completed with paper fingerprint cards which were mailed to the IRS and matched to the applicant’s application. However, as of September 25th the IRS will be implementing a new electronic fingerprinting process which will require an applicant […]
Hot off the presses! IRS HUB Testing to start tomorrow, January 18th and continue through Friday January 21st. Tax returns intended for early processing can be submitted now! What is IRS HUB Testing? -This is when the IRS pulls and processes returns that have been submitted as part of a controlled test launch of the e-file […]
Tax and immigration services are in high demand as immigration reform is on the horizon. All undocumented immigrants living and working in the United States need an Individual Taxpayer Identification Number (ITIN) in order to file and pay their taxes. ITIN holders are eligible for various tax credits which can result in tax refunds, but […]
For taxpayers who had previously requested extensions, the tax filing deadline is approaching. The filing deadline is October 15th and the IRS suggests that returns are e-filed as it is the easiest, safest and most accurate way to file, but if you chose to paper file, be sure that the tax return is postmarked by […]