The Federal Direct office will be closed on Monday, May 26th in observation of Memorial Day. Office hours will resume Tuesday, May 27th at 9 am EST. We would also like to send sincere gratitude to all of those who have served and continue to serve our country. Thank you for putting your lives on […]
Want to know how to pay less taxes? One of the easiest ways to reduce one’s tax liability is by keeping receipts for taxes. While not everything is tax-deductible, saving receipts for taxes is pretty easy and will help you keep good track of your deductions without doing any work! So, what is the best […]
The Internal Revenue Service is giving the Mega Millions jackpot some serious competition, with tax refunds totaling $760 million ready to be handed over to an estimated 918,600 taxpayers who did not file a federal income tax return for 2010.
In decades past, and the last year especially, it has become clear that congressional office holders have more trouble working with each other than against each other. While that would be totally acceptable if our mail goal as a nation, as a people was complete stagnation, this is a real problem when applied to our […]
The U.S. Court of Appeals for the District of Columbia has upheld the District Court ruling in the case of Loving vs. IRS, affirming that the IRS does not have the authority to regulate tax return preparers. The ruling was issued on Tuesday, Feb. 11, 2014. This means that the IRS cannot require tax preparers […]
The IRS has their preparers test in place and is now scheduling for preparers to take the examination. To avoid having to take the examination prior to Dec 31st, 2013 preparers must act soon. 2011 PTINs expire on December 31st, 2011, and are now scheduled to expire on the close of each calender year going […]
Along with the slew of changes and new regulations that have come down from the IRS and the Registered Return Preparers Office over the past 2 years was a provision mandating that all registered tax return preparers be fingerprinted. IRS Commissioner, Doug Shulman, stated yesterday that the fingerprinting requirement associated with registering all tax return […]
IRS released new information today highlighting increases in EITC preparer fraud penalties. The standard monetary penalty has increased from $100 to $500 per compliance issue on returns filed after 12/31/2011. For more information on avoiding preparer compliance penalties visit the IRS’ EITC Website for more information. This recent update was just released today, 11/7/2011, and […]
The IRS will be filing all returns through the new Modernized E-File (MEF) system this coming tax season. This translates to your clients getting their refunds in as little as 5 days. This represents a reduction in refund delays by 2 days. The IRS reserves the right to delay returns with questionable Earned Income Tax […]
For the coming 2011 tax season, the IRS has changed the date they will start accepting e-filed returns to January 17th, 2012. This is a Tuesday and return filed should be acknowledged by the IRS within 24 hours, as opposed to previous seasons where the first days’ acknowledgements would be delayed for 48 – 72 […]