Federal Direct and Preparertraining.com present an important webinar covering the new tax law changes resulting from the Trump Administration’s second large reconciliation package. Federal Direct partners are able to to join the live presentation or watch the archived presentation after the fact. Register for the webinar early on your Federal Direct dashboard. 48 hours after […]
With the passing of HR1, also known as One Big Beautiful Bill Act or OBBBA, there are several new tax items that may impact your clients in the coming year, there are changes to provisions from TCJA, all new provisions, and there are retroactive changes to current tax law. One of the changes to a […]
Building a strong online presence for your tax office is very important. One of the main benefits of having cultivated a strong online presence for your tax office is that it will help people find your business. Maintaining consistent messaging across your online properties will help keep your customer base informed on your business activities […]
The Internal Revenue Service (IRS) will be shutting down its Modernized e-File (MeF) system on November 18th, 2023, for annual maintenance. This means that taxpayers will not be able to e-file their individual income tax returns during this time. The MeF system is used by both taxpayers and tax preparers to e-file individual income tax […]
The PTIN portal is officially open for new 2024 PTINs and for PTIN renewals for 2024. A little bit of good news is that the price is a little less than it was last year. The fee to renew or obtain a PTIN for 2024 is $19.75. The fee is set at $11 per application […]
If you are considering starting a tax preparation business, there are a few different types of actual costs to consider. Each type of cost will require sacrifice and planning. The three main types of small business start-up costs to consider are: finances, time, and effort (mental and physical costs). To help measure the real financial […]
Start by knowing that the IRS or software vendor will never ask you for your personal information and security questions via email. Please take some time to read our online information security tips below. Always be suspicious of unexpected emails, even if it appears to come from a legitimate source. Triple check emails before ever […]
Please be on the alert for fraudulent email messages requesting sensitive personal and business tax information. These emails can appear to come from many different sources pretending to be the IRS, Federal Direct, State Departments of Revenue, Tax Software Companies, etc. One such recent IRS tax scam email has been identified as coming from a […]
No, an ITIN holder cannot claim credits for back year’s returns. The law changed in Dec. 2015 with HR2029. This means no Child Tax Credit or American Opportunity Credit (among others) for any year beyond a current and timely filed tax return. If you file late, as in after April 15th, you will NOT get […]
Be aware that the IRS annual e-file shutdown for rolling their systems over to the next year’s tax calculations is coming next week, November 30th. The IRS will not accept returns electronically from this date on until they turn back on for filing in mid January 2017. The IRS’ goal is to always accept 3 […]
Federal Direct will be hosting a webinar covering significant changes to the ITIN program that effect all applicants in the process. This webinar will provide 1 IRS continuing education credit in the Tax Law Updates category. The webinar is scheduled for Tuesday July 17th at 5:30pm Eastern. Webinar invites have been to all Federal Direct […]
This morning the Supreme Court upheld the constitutionality of the Affordable Care Act. The most debated issue was the individual coverage mandate element of the law which levies penalties to taxpayers who are required to purchase insurance coverage but fail to do so. Administration of the Affordable Care Act will be serviced by the IRS; […]
US citizens working and living abroad received an extension to file of 2 months. That deadline is just around the corner, June 15th. Be sure to inform any of your clients in this category of filers!
If you have a client who is attempting to get ITINs for dependents, he or she must be a parent or use a Power of Attorney form for immediate family (grandparents, brothers, sisters, etc). If your client is an aunt or uncle, the Power of Attorney will not work. In this instance, you will notarize […]
The IRS has released the final revisions to the 2011 tax year publication 17. This publication is probably the most comprehensive set of information covering individual tax return filing, and is also one of the forms that will be available to you while taking the upcoming RTRP examination. You can access a downloadable form of […]