Just as quickly as we update our ITIN materials and guidelines the ITIN policy office within the IRS has changed their stance yet again! Just released: ITINs (Individual Taxpayer Identification Numbers) will expire after 5 consecutive years of non-filing use. This is a change from the services’ previously stated policy of automatically expiring ITINs after […]
Federal Direct offices will be closed in observance of Independence Day on July 4th, 2014. Our offices will reopen Monday July 7th, 2014 at the normal time of 9am EST. If you have an emergency during this time please contact your account representative directly or contact support at: support@federaldirecttax.com. An after hours representative will contact […]
The IRS has been alerted to a new email phishing scam. The emails appear to be from the IRS and include a link to a bogus web site intended to mirror the official IRS web site. These emails contain the direction “you are to update your IRS e-file immediately.” The emails mention USA.gov and IRSgov, […]
A bill recently passed by the Senate taxwriters includes a provision that would revive and expand the use of private debt collectors, requiring the service to hand over to private firms nearly all the inactive tax receivables. The way the bill reads, that would include unpaid fines for not having health coverage, a penalty that […]
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 […]
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 […]