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My Tax Blog

  • End of Tax Filing Season in 2018

    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 […]

    Nice Tax Office Pop Up Stands Available

    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 […]

    TIGTA Warns of Tax Season Delays

    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 […]

    Have You Applied for Your EFIN?

    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 […]

    Start a Tax Business from Home

    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 […]

  • IRS Using More Automation For Taxpayers

    The IRS is working on switching over to more automated tax payer services intended to reduce the cost of manpower required to handle tasks that can be easily handled with online applications. Amendments are now trackable on the IRS’s website. Your refund can be tracked, as well. You can get your transcripts on the website. […]

    IRS May Fine 122,133 Paid Tax Preparers $345 Million in Penalties

    Last tax season marked an increasing level of noncompliance by tax preparers with the Internal Revenue Service’s due diligence reporting requirements for the Earned Income Tax Credit, according to a new report reviewing the IRS’s performance during the delayed tax season. The report, from the Treasury Inspector General for Tax Administration, found that as of […]

    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.

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