Tax office owners and tax preparers know all too well that preparing for tax season can be, well… Taxing! We work the long hours just like you. Here are 11 tax season tips on how to make tax season easier that we try to adopt in our office to help stay at our best during […]
When does tax season start for 2016? The beginning of tax season 2016 will be January 19th, 2016. Since the bipartisan budget deal passed, there is no expected government shutdown which would have caused the beginning of tax season 2016 to be delayed. At this point, tax season 2016 will begin in late January. The […]
In years past the cost of a new PTIN or renewing a PTIN was $64.25 or $63 respectively. However, the price has recently changed and may stay at this new price point for an undetermined period of time. The new cost, whether applying for a new PTIN or renewing your PTIN, will be the same, […]
What is CTEC? CTEC is short for the “California Tax Education Council,” which is a non-profit Corporation founded to promote competent tax preparation within the State of California. “CTEC” is also used as the common name for the Identification Number given to preparers registered in California to prepare tax returns. People who complete the CTEC […]
What is an EFIN? An EFIN is an Electronic Filing Identification Number. The EFIN is used to identify the location from where an e-file was sent. How to get an EFIN number? You can get your EFIN through the IRS’ website at e-services. There is a registration process followed by an application process which includes […]
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 […]
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 […]
Ladies and gentlemen, it is time to begin thinking about your plans regarding the impending Registered Tax Return Preparer exam. As much as many of us unintentionally procrastinate, it is advisable to go ahead and begin preparing to take the test. Do not wait until the last minute. Here are a few facts about the […]
Here are eight important points about the two different penalties you may face if you file or pay late. If you do not file by the deadline, you might face a failure-to-file penalty. If you do not pay by the due date, you could face a failure-to-pay penalty. The failure-to-file penalty is generally more than […]
During the most recent Bush administration, individual income tax cuts passed which are now expected to expire at the end of this year. This year is an election year which means that politicians are waiting until after the election to decide whether or not the tax cuts will be extended. According to Accounting Today, most […]