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My Tax Blog

  • PTIN Price Change & Other PTIN Updates

    In years past the cost of a new PTIN or renewing a PTIN was $64.25 or $63 respectively. However, the price has recently changed and may stay at this new price point for an undetermined period of time. The new cost, whether applying for a new PTIN or renewing your PTIN, will be the same, […]

    What you need to know about CTEC.

    What is CTEC? CTEC is short for the “California Tax Education Council,” which is a non-profit Corporation founded to promote competent tax preparation within the State of California. “CTEC” is also used as the common name for the Identification Number given to preparers registered in California to prepare tax returns. People who complete the CTEC […]

    What You Need to Know about an EFIN.

    What is an EFIN? An EFIN is an Electronic Filing Identification Number. The EFIN is used to identify the location from where an e-file was sent. How does one get an EFIN? You can get your EFIN though the IRS’ website at e-services. There is a registration process followed by an application process which includes […]

    Annual Filing Season Program CE Certification

    How Do I Obtain the AFSP – Record of Completion? • Take eighteen (18) credit hours of Continuing Education, comprised of: – Six (6) hours of Annual Federal Tax Refresher (AFTR) course that covers filing for the tax year and includes a knowledge-based, open book comprehension test administered at the end of the course through […]

    1040 Extension Deadline Approaching 10/15

    Do not forget that if you filed an extension for additional time to file, the deadline is fast approaching. You will be able to file returns for a while longer but your client may face additional penalties as a result of the delay. Play it safe, and file before the deadline, or, if nothing else, […]

  • Forms 8863 (Education) and 4562 (Depreciation) To Be Accepted and Processed This Week

    The Internal Revenue Service announced that it would begin accepting tax forms covering depreciation on Sunday, February 10, and forms covering education credits on Thursday, February 14, a.k.a Valentine’s Day. “This step clears the way for almost all taxpayers to start filing their tax returns for 2012,” the IRS wrote in a statement. “These forms […]

    IRS PTIN System Now Open

    On Friday, Jan. 18, 2013, the United States District Court for the District of Columbia enjoined the Internal Revenue Service from enforcing the regulatory requirements for registered tax return preparers. In accordance with this order, tax return preparers covered by this program are not required to complete competency testing or secure continuing education. The ruling […]

    IMPORTANT! IRS RTRP Regulations Shot Down in Court!

    Released yesterday was news the tax preparers, along side a libertarian justice group, won it’s case against the IRS.  Essentially, the lawsuit challenged the IRS, stating that it had no right to impose such regulations on tax preparers and that it was giving itself more authority than it had.  The judgement opinion was that until […]

    Delay To start of Filing Season 1/30/2013

    The IRS has made official that they will be delaying the start of the electronic filing season to 1/30/2013.  This relates to 1040, Individual tax returns.  The IRS also indicates that they expect additional delays associated with less common individual forms that they will be releasing a list of later.   We will keep you […]

    Fiscal Cliff Tax Deal Details A.K.A Governmental “Tough Love”

    Well, with this new deal we averted the cliff or did we? Maybe we had a parachute that kept us safe for a while, gave us a nice feeling that we’d land softly and smoothly, but then, half the way down we noticed large hole in the chute. The Good- The deal restores the top […]

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