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My Tax Blog

  • 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 […]

    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 […]

  • 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 […]

    IRS e-file System Down for Processing

    IRS will be conducting Disaster Recovery exercises on Saturday June 9th and again on Saturday June 16th .  They will not be processing returns beginning at 6PM Eastern on Friday June 8th, and they intend to bring the system back on line at 8:00 AM Eastern on Monday June 11th.  The Same procedure and timeline […]

    Did You Receive A Warning Letter From The IRS?

    According to TaxProToday, the IRS has sent out its regular warning letters to inactive EFIN holders. However, this year it seems that there was some error and current, active EFIN holders could be getting one, as well. If you have used your EFIN to e-file at least one return in the last two years, you […]

    CAA/ITIN Application Update- Regarding Dependents

    If you have a client who is attempting to get ITINs for dependents, he or she must be a parent or use a Power of Attorney form for immediate family (grandparents, brothers, sisters, etc). If your client is an aunt or uncle, the Power of Attorney will not work. In this instance, you will notarize […]

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