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My Tax Blog

  • PTIN System Open and Free

    Today, the IRS re-opened the PTIN System and is again issuing PTINs. Since the IRS is enjoined from charging a fee, it will issue the PTINs at no cost to the preparer. If you currently have a PTIN, you can now log into your account to make changes and view CPE information as normal.

    Email Scam Targeting IRS E-Services Users

    Another IRS scam email has been plaguing the tax preparation industry for months now, scammers have crafted a fake IRS s-services page that is identical to the real one. They blast password expiration/reset emails to everyone who has a PTIN as that info is open information and many PTIN holders are also EROs or hold active […]

    Does opening a tax office really mean working only 4 months per year?

    Does opening a tax office really mean working only 4 months per year? The simplest answer is probably not.  Can you earn a living wage salary in only 4 months? Yes, a seasonal tax preparer can earn a living wage salary in only 4 months, but that doesn’t mean that all the work stops after April. Some […]

    10 Dos and Don’ts of Starting a Tax Preparation Business

    Dos: 1. Find tax software that meets your needs. Do you need the ability do corporate returns or other special module types of returns? Do you need the ability to prepare prior year returns? Generally speaking, additional years and specialty modules are not included so be mindful of what you are actually getting in your […]

  • Have a Great Idea? Tax Reform Committee Wants Your Opinion & Ideas!

    It’s here. You can stop waiting now. The age where the online socio-political arena is just as important (and way more volatile) as real life has finally come. Of course, there are benefits and drawbacks. Everyone knows the internet makes it easier for a person to say what he or she really thinks which leads […]

    Information on RTRP Refunds Finally Released!

    There has finally been some information released regarding refunds for RTRP Exam fees. Requests for refunds can only be made by phone to Prometric directly at the 855.477.3926.  You must speak with to a customer service representative, and they can complete & initiate a refund request.  The refund review process can take up to 60 […]

    Lauryn Hill Convicted of Tax Evasion & Compares It to Slavery…

    Singer/Songwriter Lauryn Hill has been sentenced to three months in prison and three months of home confinement for failing to file tax returns for five years and not reporting more than $2.3 million in income. In addition to being a singer and actress, Hill owned and operated four S corporations, and her primary source of […]

    Late Tax Filers May Qualify for Abatement of Penalties

    The IRS has a program called the First Time Abate which allows for a taxpayer to have the late filing penalties waived. The IRS abatement of penalties only applies if the taxpayer has been compliant for the past three years. This means paying on time, filing on time, etc. This also includes the penalty for […]

    Taxpayer Protection and Preparer Fraud Prevention Act of 2013

    Over the past few years we’ve seen the number of cases of fraud go from an occurrence that happened to “someone we know” to something that you can’t avoid reading or hearing about. It’s happening to hundreds of thousands of people in many different forms, but one of the most common forms in the tax […]

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