This tax season will be especially turbulent with the new pre-season tax loans and preparing estimates using the new tax law. Pre-season tax loans, up to $5,000, will be approved as a percentage of the refund and the approval will be based on return criteria (as in the past). However, this year, you will be […]
If you’re thinking about starting a tax preparation business from home, then you’re in good company. For many new tax preparers, this is a great way to get started and build some tax preparation experience while having the lowest amount of overhead as possible. In addition to reducing your overhead, you’ll be able to deduct […]
EPS Last day to apply 10/15/18 Last day to print in office 10/31/18 Checks go stale 10/31/18 TPG & PSCOM Last day to apply 10/20/18 Last day to print in office 10/31/18 Checks go stale 11/30/18
The e-services portal has undergone many large changes over the last couple of years, but the application process is very similar…once you get in. Go to IRS.gov and click on “Tax Pros” in the top right. Then click on “Access E-Services” and scroll down to “E-File Provider Services.” Finally, click on “Access e-file Application.” One […]
EFTPS users: Payments must be scheduled by 8 PM ET at least one calendar day before the tax due date. Individuals: Pay the third installment of your 2018 estimated tax – Use Form 1040-ES. Corporations: Deposit the third installment of your 2018 estimated tax. Electing Large Partnerships: File Form 1065-B if you timely requested a […]
Instant Tax Service has had their doors closed by US district court Judge Timothy Black. Instant Tax was said to have been promoting a “culture of fraud and deception” within its franchisee base. Along with promoting unrealistic and undeliverable refund options to clients, Instant Tax was also sited for filing returns based off of pay […]
Anyone who, for compensation, prepares or helps prepare any federal return or claim for refund must have a valid PTIN from the IRS. The PTIN must be used as the identifying number on returns prepared. “We ask that you renew your PTIN as soon as possible to avoid a last-minute rush. It’s easy to let […]
Citing the need for “adequate time to program and test tax processing systems,” the service announced that it expected a one- to two-week delay in the start of tax season, and that it would start accepting and processing 2013 individual tax returns no earlier than Jan. 28, 2014, and no later than February 4. Tax […]
Late breaking news: IRS to delay the start of e-filing season again this year, blaming the recent government shutdown. While the IRS reserves the right to issue the final decision for the start of the 2014 filing season until December they are estimating the start date being pushed back from the original date of January […]
The IRS has reopened phone lines and says that they expect an increased demand in phone services. Due to the back log of work due to the government shutdown, the Service politely requests that you wait to call or contact them based on the severity of your situation. The service expects to be caught up […]