While some companies, like Uber, who work with contractors, keep track of business mileage for the taxpayer most do not. One of the most financially detrimental things to your taxes is not being able to substantiate business miles that would otherwise be a large deduction. The IRS does not mandate any method of documentation. You […]
Hurricane Harvey victims in parts of Texas have until Jan. 31, 2018, to file certain individual and business tax returns and make certain tax payments, the Internal Revenue Service announced today. The hurricane tax relief is part of a coordinated federal response to the damage caused by severe storms and flooding and is based on […]
Tax preparers make money in a few ways. Namely, they make most of their earnings by preparing tax filings for individuals, businesses, and other entities such as estates and non-profit organizations. The cost of preparation and the filing of the returns will vary greatly. Preparation fees for an Individual tax return for the current year […]
The tax industry is a delicate balance of chaos and repetition. Yearly updates on tax law, form revisions, tax software, and tax professional education requirements keep tax professionals busy during the off season while peak season shows just how truly chaotic tax season can be. Every tax professional will develop their own methods of preparing […]
Training your tax preparers can be a daunting task, but it doesn’t have to be. We’ve compiled a list of important tax preparer training categories. Ranging from software and tax law training to online security, with our list of best practices for tax office training, we hope this will help to ensure that you and […]
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 […]
When asked about the status of the 2014 PTIN, the IRS stated, “Due to the lapse in government funding, the 2014 PTIN renewal season is delayed. An email or letter will be sent to all current PTIN holders notifying you when the 2014 renewal season opens. The online PTIN system is still available for users […]
The government reopens! All governmental bodies should be open after the end of the shutdown and congress goes back to work. While offices are open, there is now a backlog of work for these governmental departments and workers, so keep in mind that call times could be longer than normal, even hours. IRS phone lines […]
According to a report by TIGTA (requested by the IRS Oversight Board to determine its efficiency in using the existing requirements and penalty regime that applies to unenrolled paid tax return preparers) there are several areas where the IRS could improve. The overall objective was to determine whether controls are in place to ensure […]
The IRS is appealing the court’s decision in the case of Loving vs the IRS. While their defense calls upon an 1884 law, the judges were noted to have been “engaged.” There is no doubt that this ability for the IRS to regulate preparers is long over due and much needed, but if this appeal […]
While some companies, like Uber, who work with contractors, keep track of business mileage for the taxpayer most do not. One of the most financially detrimental things to your taxes is not being able to substantiate business miles that would otherwise be a large deduction. The IRS does not mandate any method of documentation. You […]
Hurricane Harvey victims in parts of Texas have until Jan. 31, 2018, to file certain individual and business tax returns and make certain tax payments, the Internal Revenue Service announced today. The hurricane tax relief is part of a coordinated federal response to the damage caused by severe storms and flooding and is based on […]
Tax preparers make money in a few ways. Namely, they make most of their earnings by preparing tax filings for individuals, businesses, and other entities such as estates and non-profit organizations. The cost of preparation and the filing of the returns will vary greatly. Preparation fees for an Individual tax return for the current year […]
The tax industry is a delicate balance of chaos and repetition. Yearly updates on tax law, form revisions, tax software, and tax professional education requirements keep tax professionals busy during the off season while peak season shows just how truly chaotic tax season can be. Every tax professional will develop their own methods of preparing […]
Training your tax preparers can be a daunting task, but it doesn’t have to be. We’ve compiled a list of important tax preparer training categories. Ranging from software and tax law training to online security, with our list of best practices for tax office training, we hope this will help to ensure that you and […]