Tax Talk

  • Is a Tax Preparation Business right for you?

    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 […]

    Tax Office Training

    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 […]

    What is the real cost of starting a tax business?

    If you are considering starting a tax preparation business, there are a few different types of actual costs to consider.  Each type of cost will require sacrifice and planning. The three main types of small business start-up costs to consider are: finances, time, and effort (mental and physical costs).  To help measure the real financial […]

    Tips on Basic Online Security & Identifying Tax Related Email Scams

    Start by knowing that the IRS or software vendor will never ask you for your personal information and security questions via email. Please take some time to read our online information security tips below.  Always be suspicious of unexpected emails, even if it appears to come from a legitimate source.  Triple check emails before ever […]

    Alert: Watch for Scam/Phishing Emails!

    Please be on the alert for fraudulent email messages requesting sensitive personal and business tax information.  These emails can appear to come from many different sources pretending to be the IRS, Federal Direct, State Departments of Revenue, Tax Software Companies, etc.  One such recent IRS tax scam email has been identified as coming from a […]

  • IRS Not Conducting Church Audits and Getting Sued

    The Freedom From Religion Foundation is suing the IRS for failing to enforce the ban on churches contributing to/intervening with political campaigns. Separation between Church and State? Not lately. The IRS says that the audits are on hold until finalizing rules that requires “high-level” official to approve the examinations.  The Freedom From Religion Foundation believes […]

    The IRS Ripped off Its Shirt to Reveal Green Flesh Atop Muscles Made of 1099-Ks

    Yes, it’s true. The IRS has recently become the green-fleshed Hulk of our governmental body.  This year the IRS has been on a roll changing things to improve the system, prevent fraud, smash identity theft, and, in the writer’s opinion, get it’s act together before facilitating the facilitation of the individual mandate come 2014.  Really, […]

    Important 2012 Form Changes on 8812, 8867 & 8863

    The IRS has recently made changes to various forms that are not related to the upcoming legislation. Several forms that relate to the Additional Child Tax Credit and Education Credits have been updated to include questions for verification of the claim for the credit.  The Education Credit Form 8863 now includes entries for the institution’s […]

    Important Update: Finalized ITIN Regulations

    Today, the IRS released updated procedures to strengthen the Individual Taxpayer Identification Number (ITIN) program. The IRS has decided to keep many of the rules that have been in place during the Interim Period relating to original documents and certified copies from issuing agencies. Taxpayers applying for themselves will need to include original documents or […]

    Sickness NOT Enough To Beat Late Filing Penalties

    A woman with a plethora of health problems made several large taxable gifts to her daughter, but failed to make the gift tax return by the filing date. The woman was down with pneumonia and heart palpitations. She had cataract surgery and knee replacement surgery during the same time period. The court refused to waive […]

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