My Tax Blog

  • EITC Fraud Continues to Vex IRS

    It is estimated that the IRS erroneously paid out 11 to 13 BILLION dollars in EITC.  The IRS thought forcing preparers to send in the 8867 Due Diligence worksheets would put “a dent” in the fraud. The number of fraudulent/erroneous EITC payments has gone down 2-3 billion compared to last year’s numbers. Have your own […]

    Have a Great Idea? Tax Reform Committee Wants Your Opinion & Ideas!

    It’s here. You can stop waiting now. The age where the online socio-political arena is just as important (and way more volatile) as real life has finally come. Of course, there are benefits and drawbacks. Everyone knows the internet makes it easier for a person to say what he or she really thinks which leads […]

    Information on RTRP Refunds Finally Released!

    There has finally been some information released regarding refunds for RTRP Exam fees. Requests for refunds can only be made by phone to Prometric directly at the 855.477.3926.  You must speak with to a customer service representative, and they can complete & initiate a refund request.  The refund review process can take up to 60 […]

    Lauryn Hill Convicted of Tax Evasion & Compares It to Slavery…

    Singer/Songwriter Lauryn Hill has been sentenced to three months in prison and three months of home confinement for failing to file tax returns for five years and not reporting more than $2.3 million in income. In addition to being a singer and actress, Hill owned and operated four S corporations, and her primary source of […]

    Late Tax Filers May Qualify for Abatement of Penalties

    The IRS has a program called the First Time Abate which allows for a taxpayer to have the late filing penalties waived. The IRS abatement of penalties only applies if the taxpayer has been compliant for the past three years. This means paying on time, filing on time, etc. This also includes the penalty for […]

  • Tax Clients Liens & Levies – IRS offers “Fresh-Start Open House” Tomorrow

    The Internal Revenue Service will open the doors to dozens of its Taxpayer Assistance Centers across the country this coming Saturday, July 16, 2011, to answer taxpayer questions and provide help with tax filing issues. This special event is particularly intended for people who want to make a “fresh start” by taking steps to have […]

    Tax Preparer Tips – Manual Entry of SSNs now required on all W2s

    New for the 2011 tax season all W2s will require a manual entry of clients social security number.  Software companies will no longer be allowed to prepopulate SSN onto W2s.  The reasoning behind this is related cleints having ITINs (Individual Tax Identification Number) instead of Social Security Numbers.  In past years software programs would simply populate the […]

    When Does My Tax Preparer PTIN Expire?

    Tax Preparers were required to get a Preparer Tax Identification Number last tax season.  Those PTINs were initially scheduled to expire one year, to the day, from when they were issued.  That time frame has been changed by the IRS, now all PTINs will expire on 12/31 of the following year.  This translates to anyone […]

    Tax Debt forces SuperBowl Veteran to put championship ring up for auction

    Fuzzy Thurston, a former lineman of the Green Bay Packers will be auctioning off his 1967 SuperBowl Championship ring to help with his 1.7 Million tax debt.  The tax debt originates from Thurston’s post NFL business venture where he opened a chain of restaurants called The Left Guard.  The original debt was issued in 1984 […]

    Senators Press IRS to Adapt Tax Code for Same-Sex Couples

    8 democratic Senators have pressed the IRS for appeals to the tax code relating to the handling of same-sex couples.  Many states now allow for same-sex couples to file joint State returns, however these same couples must file separate federal tax returns.  A heavy portion of the problems these couples face are related to dealing […]

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