Tax Talk

  • Saint Patrick’s Day Contest Winners Announced

    The results are in!  The winners of the second annual St. Patrick’s Day Tax Filing Contest are as follows: Bank Funded Returns: 1st. Place:  Farrell’s Tax & Services, LLC  ($250 and a FD Laptop bag) 2nd place: Friendly Tax Service (FD Laptop bag) Honorable Mention: RGS Tax Services, St. Louis Tax Service, Maydelin Martell Agency […]

    Oh, No, he didn’t, yes, yes he did…(Undercover IRS Visits)

    Expect more undercover IRS secret shoppers and undercover office visits.  In light of a recent incident involving a volunteer preparer, these visits will be increasing in numbers.  These visits are designed to unsure compliance with the IRS regulations, and almost everyone knows about them.  The recent incident regards a volunteer tax preparer who told a […]

    Fraudulent Tax Return Could Lead To Deportation

    Two married resident aliens were convicted of willfully making, subscribing, and assisting in the preparation of a false tax return which caused the government a tax loss of over $10,000.  An immigration judge ordered the couple’s deportation. On February 21, 2012, the Supreme Court decided Kawashima v. Holder, holding that the offenses that make an […]

    Update: Rejected Corporate Returns

    Corporate returns that were rejected yesterday have 5 more days to refile and get accepted before any penalties will be levied.  For both the corporation and shareholders the penalties for filing late are steep.  Shareholders run the risk of receiving a $100 fine for being untimely. If the untimeliness boiled down to an intentional disregard, […]

    IRS Newswire: First Registered Tax Return Preparer Certificates

    The IRS has announced that it has begun to provide test results to tax return preparers who have taken the new return preparer competency test. The competency test to get your new designation, Registered Tax Return Preparer, is a 120 question test which has a perfect score of 500. Preparers must score a 350 or […]

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