Happy End of the Tax Season!
Happy 4/15! Today is April 15th, and the last day to timely file tax returns for your clients. There are a few things to keep in mind as we pass the filing deadline. Rejected returns have until 4/20/2013 to be fixed and get accepted, and will still be considered “Timely Filed”. The IRS and state […]
It’s Begun! Beware of Fake IRS Emails!
Today I received an email, claiming to be from the IRS, stating that there was an additional sum of money to be refunded. As a tax professional, I know I did my taxes right, but for those unaware of the system or too trusting of emails, this could be incredibly detrimental. Remember that the IRS […]
Stop Procrastinating, April 15 is One Week Away! Time to File!
Just a friendly reminder that tax season will NOT be extended even though it began late. You will have until April 15th, which is next Monday, to file your taxes or file an extension. Remember that if you paper file, your return must be postmarked by the 15th to be considered “timely,” and filing an […]
You Can Now Track Your Amendment! Really? Yes!
Beginning in March 2013, you can track your amended return status using a new web or toll-free application. Go to IRS.gov and click on “Where’s My Amended Return,” or call 1-866-464-2050. With either application, you will need to provide the following information: Your Taxpayer Identification Number (usually SSN), Your date of birth, and Your ZIP […]
Tomorrow is Last Day to File Corporate Returns…Ante Up or File Extension.
If you don’t have all your ducks in a row, don’t worry too much. You can always file a corporate return extension, BUT remember that filing an extension does not give you more time to pay what you owe. Penalties and interest will accrue, and those amounts are nothing to joke about. Corporate tax returns […]
Get your PTIN early this year
The IRS is moving forward with implementing their testing requirement for tax preparers and they have stated that this will be in place for this coming 2011 tax season, starting January 2012. One way to postpone having to take the preparer competency examination is to have your PTIN issued prior to the IRS implementing the […]
IRS wants your input on Preparer Exams
The IRS has selected Prometric to administer the forthcoming tax preparer examinations, but they would like to hear from you, the actual preparers, regarding the structure, length, specific areas and topics that should be covered, reporting, etc. Prometric is the company that has been administering exams for Enrolled Agents and CPAs for years, but with […]
Jackson Hewitt to file Bankruptcy
Jackson Hewitt officially filed petition for bankruptcy on May 23rd in the Delaware District court. Jackson completed the the 2010 tax season with over 700 franchisees operating 4,800 locations. The Bankruptcy has been classified as a “packaged bankruptcy” for restructuring debt, but this official filing is certainly a negative blow to the second largest tax […]
Ronnie Deutch Firm Closes . Assets Siezed
Ronnie Deutch, the face and name behind the tax preparation franchise Ronnie Deutch Tax Centers, has had her assets seized by a CA judge, closed her firm, and has been forced to turn over her BAR license to practice law. Deutch has been charged with making false promises to her clients seeking tax assistance and […]