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My Tax Blog

  • 4th Largest Tax Prep Chain in US Shut Down by Federal Gov.

    Instant Tax Service has had their doors closed by US district court Judge Timothy Black.  Instant Tax was said to have been promoting a “culture of fraud and deception” within its franchisee base.   Along with promoting  unrealistic and undeliverable refund options to clients, Instant Tax was also sited for filing returns based off of pay […]

    Tax Office Marketing Webinar Tonight! Vote for Mkg Materials & A Big Surprise!

    Federal Direct’s next webinar will be covering Tax Office Marketing.  This webinar will go through the custom marketing programs available in your partner portal, debut the new partner website design, and break down the new low cost “To Every Door” direct mail campaign that any tax office marketing on a budget should be aware of!  […]

    2014 IRS PTINs Now Available!

    Anyone who, for compensation, prepares or helps prepare any federal return or claim for refund must have a valid PTIN from the IRS. The PTIN must be used as the identifying number on returns prepared. “We ask that you renew your PTIN as soon as possible to avoid a last-minute rush. It’s easy to let […]

    Tax Season Delayed & IRS Sorting 1.4 Million Letters

    Citing the need for “adequate time to program and test tax processing systems,” the service announced that it expected a one- to two-week delay in the start of tax season, and that it would start accepting and processing 2013 individual tax returns no earlier than Jan. 28, 2014, and no later than February 4. Tax […]

    IRS to delay 2013/2014 e-filing season…Again!

    Late breaking news:  IRS to delay the start of e-filing season again this year, blaming the recent government shutdown. While the IRS reserves the right to issue the final decision for the start of the 2014 filing season until December they are estimating the start date being pushed back from the original date of January […]

  • House Passes Bill to Extend Bush Tax Cuts to All Income Levels

    The Republican held House passed a bill today extending the Bush tax cuts to all taxpayers at all income levels. This is in response to the Democratic bill that was passed through the Senate last week where the tax cut extensions would have left out MFJ filers with income over $250K.  The stalemate continues between […]

    Tax Preparer Sentenced for Filing False Tax Refunds Using Client Identities

    It’s a story we’ve come to know so well. The friendly tax preparer who you think you can trust ends up filing false returns and having your money deposited into his account. Once again, we see another preparer, this time unlicensed, doing the wrong thing the wrong way. Job Lopez was sentenced to 6 months […]

    Tax Preparer Implications of the Supreme Court Upholding Affordable Care Act

    This morning the Supreme Court upheld the constitutionality of the Affordable Care Act.  The most debated issue was the individual coverage mandate element of the law which levies penalties to taxpayers who are required to purchase insurance coverage but fail to do so.  Administration of the Affordable Care Act will be serviced by the IRS; […]

    IRS Strengthens ITIN Requirements- What This Means For Your Office

    The IRS announced today that it has put in place new “interim procedures” designed to “help protect the integrity” of the ITIN process.  During this interim period, no ITINs will be accepted or assigned without original documentation, such as passports and birth certificates, or certified copies of these documents from the issuing agency. Even Certifying […]

    Immigration Policy Update: HSA Announces Deferred Action Process for Young People

    The Department of Homeland Security has announced a new initiative regarding discretion on a case by case basis with younger illegal immigrants. Many illegal immigrants are brought over as children and live the lives of immigrants even though many of them have spent their entire lives in the United States, in some cases, even graduating […]

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