E-filing for taxes in 2018 will be shut down on November 17th at 10 pm filing center time. The shut down marks the beginning of preparation for the upcoming tax filing season which is slated to begin in mid to late January 2019. Once e-filing is turned back on, tax returns for 2016, 2017 and […]
If you are a FD partner and would like a nice pop up stand for your office or retail location, send an email to mkg@fd.tax. Be sure to give your shipping address. These marketing pop up stands are about 5 ft tall and about 2 ft wide. We will send these out free of charge […]
As the first major tax reform legislation in more than 30 years, the TCJA has made significant changes to the tax code which affects individuals, business and tax exempt organizations. The IRS is tasked with updating or creating about 450 forms, pubs and instructions. In addition to updating the forms, the IRS will also have […]
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 […]
Can the IRS’s situation become more sadly laughable? At this point, I’m beginning to think not. Released this weekend was a video of a line dancing instructor teaching some IRS employees to dance. Apparently the IRS has spent somewhere near $50 million to hold at least 220 conferences for employees between 2010 and 2012. A […]
Third party for-profit organizations have obtained the PTIN list under the Freedom of Information Act (FOIA) and created an online directory of tax professionals. Be aware that the information these services received includes names, addresses and phone numbers, but not actual PTINs. We want to warn you not to provide these websites with your PTIN, […]
It is estimated that the IRS erroneously paid out 11 to 13 BILLION dollars in EITC. The IRS thought forcing preparers to send in the 8867 Due Diligence worksheets would put “a dent” in the fraud. The number of fraudulent/erroneous EITC payments has gone down 2-3 billion compared to last year’s numbers. Have your own […]
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 […]
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 […]