Just yesterday, Dec 3rd, there has been a nation wide preliminary injunction against enforcement of the upcoming mandatory BOI reporting deadline of January 1st 2025. This is a preliminary injunction and we do assume the government will be appealing the decision, but as it stands now, the reporting deadline of January 1st 2025 is now […]
Who do professional tax preparers call when they need help? The answer is, like many tax-world answers, it depends. What do they need? Chances are there is a very specific person, vendor, line or department that will take you straight there. Here we have compiled a handy dandy, ultra-bookmarkable list of numbers that a tax […]
Tax season is a busy time for everyone involved, but it’s especially important for taxpayers in the market for a qualified tax preparer. Tax laws are complex and ever-changing, and it can be difficult for taxpayers to keep up with the latest changes. This is where professional tax preparers come in. Professional tax preparers can […]
The Internal Revenue Service (IRS) will be shutting down its Modernized e-File (MeF) system on November 18th, 2023, for annual maintenance. This means that taxpayers will not be able to e-file their individual income tax returns during this time. The MeF system is used by both taxpayers and tax preparers to e-file individual income tax […]
The PTIN portal is officially open for new 2024 PTINs and for PTIN renewals for 2024. A little bit of good news is that the price is a little less than it was last year. The fee to renew or obtain a PTIN for 2024 is $19.75. The fee is set at $11 per application […]
Following today’s system issues, the IRS is providing taxpayers an additional day to file and pay their taxes. Individuals and businesses with a filing or payment due date of April 17 will now have until midnight on Wednesday, April 18. Taxpayers do not need to do anything to receive this extra time. Throughout the system […]
Last day to e-file returns will be November 18th, 2017. Until that day, you can e-file tax returns from 2014, 2015, and 2016. Once e-filing opens back up for the coming season, then you will be able to e-file returns for 2015, 2016, and 2017.
Head’s up on some important dates! This Year’s Extension deadline is : October 16th, 2017 -Individual, C-Corp (S-corp & partnerships were September 15th) -Disaster Areas: Added time to file returns on extension, January 31st, 2018 (Hurricanes Harvey, Irma and Maria) CTEC renewal deadline is : October 3st, 2017
The tax industry is a delicate balance of chaos and repetition. Yearly updates on tax law, form revisions, tax software, and tax professional education requirements keep tax professionals busy during the off season while peak season shows just how truly chaotic tax season can be. Every tax professional will develop their own methods of preparing […]
Training your tax preparers can be a daunting task, but it doesn’t have to be. We’ve compiled a list of important tax preparer training categories. Ranging from software and tax law training to online security, with our list of best practices for tax office training, we hope this will help to ensure that you and […]
Our next webinar will be covering General Tax Law Updates for the coming tax season. The webinar will be hosted next Thursday, September 6th at 5:30pm Eastern. As always, if you are not able to attend the live webinar, it will be available for archive viewing on your partner portal 24-48 hours after the live […]
Please join us 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 General […]
Many businesses sell medical marijuana in the retail sector. Of course, having legalized marijuana on a state level, makes this business practice legitimate for state taxes but what about federal taxes? For federal tax purposes, since marijuana is still illegal, it prevents this business from being treated as a real business with deductible expenses. However, […]
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. […]
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 […]