My Tax Blog

  • IRS Commissioner Nominee Vows to Rehabilitate Tax Agency

    John Koskinen, President Barack Obama’s nominee to run the U.S. Internal Revenue Service, said at a Senate panel’s confirmation hearing that he would work to restore the public’s trust in the tax agency. “With 95,000 employees and the range of challenges the agency faces, mistakes will happen,” Koskinen said today in prepared testimony for the […]

    IRS Launches 2012 EITC Audits for Preparers

    The IRS is starting this year’s Earned Income Tax Credit due diligence compliance audits of return preparers. To select preparers for audits,  the service will “look at returns with a high chance of errors competed by the same preparer,” according to the IRS.gov. The audits review at least 25 EITC returns for the preparer’s due-diligence […]

    Important- New Federal Tax Forms for Tax Year 2013

    This coming tax year will be host to some new tax forms that will probably be around for the long haul. The new forms relate to the impending facilitation of the Patient Protection and Affordable Care Act (Obamacare) and the child tax credit. New forms to the 1040 series package: -Form 8959, Additional Medicare Tax […]

    Say “Goodbye” to These Common Tax Deductions

    Tax planning help may be needed for taxpayers who, through a combination of tax credits, usually receive a tax refund as opposed to owing, which may be just the opposite in the next couple of years as many common and often used tax credits are set to expire. The following common tax deductions and credits […]

    IRS sends EITC warning letters to offices with high EITC error potential

    Warning letters are being sent this month and throughout December to tax preparers who potentially have filed erred or inaccurate EITC claims. The IRS is also planning on continuing their “knock & talk” campaign for preparer education this tax season, where they will be physically visiting offices with high percentages of EITC recalculation due to […]

  • Webinar on Tuesday! Education Credits & Tuition!

    Please join us next Tuesday for our webinar covering Education Credits & Tuition deductions, how to report them and which option is best for your clients.  This webinar will last approximately 2 hours, and for those of you who have signed up for an IRS continuing education package, will provide 2 CE credits in the […]

    The Only EFIN-way: Online System to be Juggernaut of EFIN Acquisition.

    The IRS recently released a statement saying that EFIN applications by paper will no longer be accepted. Effective October 1, 2012, applications to become an IRS e-file provider must be submitted online. The IRS will no longer accept paper e-file applications. Become an e-file provider in 3 easy steps: 1. Create an IRS e-Services account. […]

    Changes to the Online PTIN User System

    Why does it seem that just before something is fully functional and working well that it needs to be changed? The IRS has made several new changes and “improvements” to the online PTIN registration portal. Hopefully, these changes improve it’s capacity in registering and renewing preparers’ PTINs.  Hopefully, there won’t be three weeks just before […]

    Bruce Grant in Serious Hot Water in Chicago

    I’ve begun so many stories of fraud the same way, “it’s a story we’ve come to know so well.”  I’m tired of all this fraud. I don’t know if it just seems that so many “big fish” have been caught lately, or the IRS is really cracking down, but I am, firstly, saddened by the […]

    Just Announced: Report On Fraud in the ITIN Department

    Yesterday afternoon, the findings of the investigation of the ITIN Department of the IRS were released in a report that showed blatant and easily detectible fraud. The report finds that the “higher-ups” involved in the ITIN tax fraud cared more about processing as many applications as possible, as opposed to properly processing only acceptable ones. […]

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