My Tax Blog

  • Happy Fourth of July!

    Federal Direct offices will be closed in observance of Independence Day on July 4th, 2014.  Our offices will reopen Monday July 7th, 2014 at the normal time of 9am EST. If you have an emergency during this time please contact your account representative directly or contact support at: support@federaldirecttax.com.  An after hours representative will contact […]

    Alert of New Email Phishing Scam: “Update your IRS e-file”

    The IRS has been alerted to a new email phishing scam. The emails appear to be from the IRS and include a link to a bogus web site intended to mirror the official IRS web site. These emails contain the direction “you are to update your IRS e-file immediately.”  The emails mention USA.gov and IRSgov, […]

    IRS to Reconsider Outsourcing Tax Debt Collection

    A bill recently passed by the Senate taxwriters includes a provision that would revive and expand the use of private debt collectors, requiring the service to hand over to private firms nearly all the inactive tax receivables. The way the bill reads, that would include unpaid fines for not having health coverage, a penalty that […]

    Federal Direct Office Closed in Observation of Memorial Day

    The Federal Direct office will be closed on Monday, May 26th in observation of Memorial Day. Office hours will resume Tuesday, May 27th at 9 am EST. We would also like to send sincere gratitude to all of those who have served and continue to serve our country. Thank you for putting your lives on […]

    Want to pay less tax? Keep these receipts during the year.

    Want to know how to pay less taxes? One of the easiest ways to reduce one’s tax liability is to itemize his or her deductions. While not everything is tax deductible, saving receipts for taxes is pretty easy and will help you keep good track of your deductions without doing any work! I suggest (for the […]

  • PTINs for 2013 are Ready for Issuance.

    The PTIN renewal and registration for 2013 are now available. Regulations require all paid tax return preparers obtain a Preparer Tax Identification Number (PTIN). Preparers must renew their PTIN each year by December 31. The renewal fee is $63.00 and the initial application fee is $64.25. Please remember to confirm that your credentials and all […]

    Californian CTEC Preparers, Renewal is Due in 9 Days!

    Below is a list of dates with corresponding late fees. Don’t forget these late fees are IN ADDITION to the regular renewal fee. Also, these fees do NOT include your PTIN fee. October 31st- Deadline to renew with CTEC, Pay California $25 After 10/31- Jan. 1st- Late renewal with CTEC, Pay California $25 to renew […]

    IRS Sends Letters Due to Schedule C Mileage Errors, Suggests Education Visits

    The IRS will be sending out approximately 5,000 letters to tax preparers of all designations who filed tax returns with a Schedule C that have a high percentage of traits typically found to have errors. These letters are being sent prior to the tax-filing season. The IRS has acknowledged that they specifically targeted returns that […]

    Best Time to Start a Tax Prep Business? Right now!

    Whether you are searching for yourself or with a fellow tax preparer, regardless of previous experience, you will find that this is the best and last year to open your own tax prep business with the fewest barriers to enter the industry.  New federal tax preparer requirements set in place will be enforced strictly next […]

    Important CTEC Info! California Preparers, Time’s ticking!

    California CTEC Information & Pricing: CTEC Renewal (20 hrs) New CTEC Certification (60 hrs) FD Partners: $69.99 $169.99 Non Partners: $99.99 $249.99 $$$ Important CTEC Deadlines $$$ October 31st- Deadline to renew with CTEC, Pay California $25 After 10/31- Jan. 1st- Late renewal with CTEC, Pay California $25 to renew with $55 late fee After […]

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