After the IRS created the Registered Tax Return Preparer program based on licensing of tax preparers they were sued. In court, and in appeal, they were not found to have statutory authority to regulate unenrolled preparers. Senator Rob Portman has introduced a new bill that would grant the IRS the authority that they need to […]
The IRS has released some very helpful videos with tips on how to maintain, monitor, and protect your EFIN. https://youtu.be/iXb0_ElZYdQ
Thinking about becoming a tax return preparer? If you are feeling overwhelmed by the tax code changes, business start up costs, or timeliness of your endeavor, stop. Becoming a tax return preparer is easier than it may seem. At least the technical aspects are not too difficult. Finding time to develop your stills may be […]
With the passing of the Tax Cuts & Jobs Act, many tax laws will be changing. The tax law changes will not be represented on the Enrolled Agent Special Enrollment Exams until next year. If you can find the time and motivation to complete your Enrolled Agent exams between May 1, 2018 — February 28, […]
Audit yourself- Audit your professional tax software for any e-files that might have not been accepted. Sometimes state tax returns may fall through the cracks. Ensure all e-files that were sent or previously rejected have been accepted. Be sure that any tax refund checks to be printed from bank funded returns have been printed and […]
Today I received an email, claiming to be from the IRS, stating that there was an additional sum of money to be refunded. As a tax professional, I know I did my taxes right, but for those unaware of the system or too trusting of emails, this could be incredibly detrimental. Remember that the IRS […]
Just a friendly reminder that tax season will NOT be extended even though it began late. You will have until April 15th, which is next Monday, to file your taxes or file an extension. Remember that if you paper file, your return must be postmarked by the 15th to be considered “timely,” and filing an […]
Beginning in March 2013, you can track your IRS amended return status using a new web or toll-free application. Go to IRS.gov and click on “Where’s My Amended Return,” or call 1-866-464-2050. With either application, you will need to provide the following information: Your Taxpayer Identification Number (usually SSN), Your date of birth, and Your […]
If you don’t have all your ducks in a row, don’t worry too much. You can always file a corporate return extension, BUT remember that filing an extension does not give you more time to pay what you owe. Penalties and interest will accrue, and those amounts are nothing to joke about. Corporate tax returns […]
If you filed your tax return with form 8863 for Tax Education Credits, you might be receiving this 8863 Letter in the mail requesting more information. Typically, this is just a request for more information relating to credit eligibility. In this case, it seems that 4 of the questions on the form are either not […]