E-filing for taxes in 2018 will be shut down on November 17th at 10 pm filing center time. The shut down marks the beginning of preparation for the upcoming tax filing season which is slated to begin in mid to late January 2019. Once e-filing is turned back on, tax returns for 2016, 2017 and […]
If you are a FD partner and would like a nice pop up stand for your office or retail location, send an email to mkg@fd.tax. Be sure to give your shipping address. These stands are about 5 ft tall and about 2 ft wide. We will send these out free of charge as long as […]
As the first major tax reform legislation in more than 30 years, the TCJA has made significant changes to the tax code which affects individuals, business and tax exempt organizations. The IRS is tasked with updating or creating about 450 forms, pubs and instructions. In addition to updating the forms, the IRS will also have […]
This tax season will be especially turbulent with the new pre-season tax loans and preparing estimates using the new tax law. Pre-season tax loans, up to $5,000, will be approved as a percentage of the refund and the approval will be based on return criteria (as in the past). However, this year, you will be […]
If you’re thinking about starting a tax preparation business from home, then you’re in good company. For many new tax preparers, this is a great way to get started and build some tax preparation experience while having the lowest amount of overhead as possible. In addition to reducing your overhead, you’ll be able to deduct […]
Identity theft is a problem that affects millions of Americans and that nondescript number is growing exponentially. Years ago, there were fewer people filing fewer fraudulent returns, but now, with the ease of e-file and the lax security of some office’s document retention procedures, there are thousands of people who have built a type of […]
President Obama has openly and vehemently criticized the new corporate strategy of lowering its tax burden. This new strategy is called inversion, and for those who aren’t well versed in tax code, it’s a process by which a corporation buys a foreign corporation in order to take that corporation’s tax home which, in turn, lowers […]
Yet another tax relief company now faces the long arm of the law after having been found guilty of challenged practices including fraudulently misrepresenting the company services in order to con more people. The FTC is mailing out 16 million dollars to over 18 thousand former clients of American Tax Relief. Apparently, each consumer will […]
The Senate Finance Committee has introduced bipartisan legislation to improve protection for taxpayers against fraudulent tax refund claims made with stolen identities. The refund theft tax bill includes new assistance for taxpayers who have been victims of identity theft and requires the Internal Revenue Service to establish a new security feature that individuals can use […]
It’s the biggest city in the nation, so reasonable it would have a proportionally higher crime rate, right? Yes, even for taxes. New York state recently sent out 56 tax suspension letters. 40 preparers seem to have accepted the judgement and the other 16 preparers are challenging the action. Due to the increased tax-related crimes, […]
E-filing for taxes in 2018 will be shut down on November 17th at 10 pm filing center time. The shut down marks the beginning of preparation for the upcoming tax filing season which is slated to begin in mid to late January 2019. Once e-filing is turned back on, tax returns for 2016, 2017 and […]
If you are a FD partner and would like a nice pop up stand for your office or retail location, send an email to mkg@fd.tax. Be sure to give your shipping address. These stands are about 5 ft tall and about 2 ft wide. We will send these out free of charge as long as […]
As the first major tax reform legislation in more than 30 years, the TCJA has made significant changes to the tax code which affects individuals, business and tax exempt organizations. The IRS is tasked with updating or creating about 450 forms, pubs and instructions. In addition to updating the forms, the IRS will also have […]
This tax season will be especially turbulent with the new pre-season tax loans and preparing estimates using the new tax law. Pre-season tax loans, up to $5,000, will be approved as a percentage of the refund and the approval will be based on return criteria (as in the past). However, this year, you will be […]
If you’re thinking about starting a tax preparation business from home, then you’re in good company. For many new tax preparers, this is a great way to get started and build some tax preparation experience while having the lowest amount of overhead as possible. In addition to reducing your overhead, you’ll be able to deduct […]