My Tax Blog

  • IRS Could Review Previously Processed ITINs for Fraud Patterns

    According to Accounting Today, the IRS and TIGTA have almost made up.  Not entirely, but TIGTA is letting the IRS move back into the house (personification- no actual move took place). While the IRS is only, at this point, satisfying 7 of 9 measures that TIGTA wants to see, the Service plans to really work […]

    IRS Closed Tomorrow. Call Today or Wait Until Monday!

    The Internal Revenue Service today reminded taxpayers that, due to the current budget situation including the sequester, the agency will be shut down on Friday, June 14. As was the case on May 24, the first furlough day, all IRS operations will again be closed on June 14. This means that all IRS offices, including […]

    Unbanked: Prediction of Challenges To Come Regarding PPACA

    With the impending enforcement of the Patient Protection and Affordable Care Act, research groups all over are attempting to find loop holes to provisions, cracked logic, anything to cause a stir and potentially create fear. There are concerns about those who do not have bank accounts, or, as the research groups have labelled them, the […]

    IRS Under Fire for Line Dancing and Loads of Misc. Expenses

    Can the IRS’s situation become more sadly laughable? At this point, I’m beginning to think not.  Released this weekend was a video of a line dancing instructor teaching some IRS employees to dance. Apparently the IRS has spent somewhere near $50 million to hold at least 220 conferences for employees between 2010 and 2012.  A […]

  • Final PTIN registration details released

    Provisional PTINs: available through 4/18/2012.  This means that you WILL be able to get a PTIN prior to completing the preparers examination up to this date.  If you already have a PTIN, you will need to renew that PTIN for a fee of $64.25 after October 15th, 2011 for the coming tax season.  You will […]

    Get Your PTIN NOW!

    For anyone who has not heard the deadline for avoiding having to take the RTRP Examination until December 2013 is October 1st.  Federal Direct can assist you get your PTIN now, but if you delay, you will experience multiple additional charges and an examination before you can preparer taxes this year!  If you do not […]

    Nearly 2 Million Fewer Tax Returns Filed in 2009 vs. 2008

    The IRS released statistics showing total filing figures for the country along with individual state statistics also. One of the most notable statistics reported was that there was nearly 2 million (1,730,061) fewer tax returns filed for the 2009 tax year versus the 2008 tax year. Many sources relate this to the economic downturn in […]

    Newest Tax Filing Statistics Released

    It takes approximately 1 year for the IRS to tabulate and release statistical information related to tax filings.  They have just finished compiling tax and demographic information for the 2009 tax year, filed starting January of 2010.  This year should be of significant relevance as it is the first set figures relating to the recession […]

    Tax Credit for Hiring a Veteran Proposed

    President Obama just recently proposed a new tax credit for hiring veterans that have recently returned from combat overseas.  The credit ceilings would range from $4,800 to $9,600, depending on the longevity of the position these veterans are employed for and the length that they have been unemployed and if they have any disabilities.  This […]

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