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My Tax Blog

  • Tax Deadlines Monday 9/17 2018

    EFTPS users: Payments must be scheduled by 8 PM ET at least one calendar day before the tax due date. Individuals: Pay the third installment of your 2018 estimated tax – Use Form 1040-ES. Corporations: Deposit the third installment of your 2018 estimated tax. Electing Large Partnerships: File Form 1065-B if you timely requested a […]

    ITINs Expiring in 2018

    Many individual tax identification numbers will expire at the end of 2018 unless renewed. Those not used on a return in any of the last three years expire on Dec. 31. Also expiring at year-end are ITINs with middle digits of 73, 74, 75, 76, 77, 81 or 82. Affected individuals may renew their ITINs […]

    Bill to Regulate Preparers Proposed- RTRP May Come Back

    After the IRS created the Registered Tax Return Preparer program based on licensing of tax preparers they were sued.  In court, and in appeal, they were not found to have statutory authority to regulate unenrolled preparers.  Senator Rob Portman has introduced a new bill that would grant the IRS the authority that they need to […]

  • 2014 Tax Season Opens on January 31st

    According to IR-2013-100, the IRS plans to open the 2014 filing season on January 31. The IRS cautioned that it will not process any tax returns before January 31, so there is no advantage to filing on paper before the opening date. Until tax season officially begins, the stockpiling rule doesn’t apply. The April 15 […]

    New IRS Commissioner Koskinen Approved

    John Koskinen, a 74-year-old multimillionaire with a resume full of accomplishments, will be the new Commissioner of the IRS. The Senate Finance Committee approved his nomination Friday.

    Tax Prep Fees on The Rise

    According to Accounting Today, average fees for tax prep are rising. While it certainly does depend on which forms you need, all tax prep fees are steadily increasing a few percentage points, and will very likely continue to rise as the individual mandate is facilitated through tax filing.

    IRS Commissioner Nominee Vows to Rehabilitate Tax Agency

    John Koskinen, President Barack Obama’s nominee to run the U.S. Internal Revenue Service, said at a Senate panel’s confirmation hearing that he would work to restore the public’s trust in the tax agency. “With 95,000 employees and the range of challenges the agency faces, mistakes will happen,” Koskinen said today in prepared testimony for the […]

    IRS Launches 2012 EITC Audits for Preparers

    The IRS is starting this year’s Earned Income Tax Credit due diligence compliance audits of return preparers. To select preparers for audits,  the service will “look at returns with a high chance of errors competed by the same preparer,” according to the IRS.gov. The audits review at least 25 EITC returns for the preparer’s due-diligence […]

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