Thinking about becoming a tax return preparer? If you are feeling overwhelmed by the tax code changes, business start up costs, or timeliness of your endeavor, stop. Becoming a tax return preparer is easier than it may seem. At least the technical aspects are not too difficult. Finding time to develop your stills may be […]
With the passing of the Tax Cuts & Jobs Act, many tax laws will be changing. The tax law changes will not be represented on the Enrolled Agent Special Enrollment Exams until next year. If you can find the time and motivation to complete your Enrolled Agent exams between May 1, 2018 — February 28, […]
Audit yourself- Audit your professional tax software for any e-files that might have not been accepted. Sometimes state tax returns may fall through the cracks. Ensure all e-files that were sent or previously rejected have been accepted. Be sure that any tax refund checks to be printed from bank funded returns have been printed and […]
According to the National Association of Enrolled Agents (NAEA) the IRS has informed them that Enrolled Agents are no longer allowed to use the previously IRS issued and approved EA logo. The IRS did create the logo for the EA program and supported its use as a means to encourage participation in the Enrolled Agent […]
Following today’s system issues, the IRS is providing taxpayers an additional day to file and pay their taxes. Individuals and businesses with a filing or payment due date of April 17 will now have until midnight on Wednesday, April 18. Taxpayers do not need to do anything to receive this extra time. Throughout the system […]
This coming tax year will be host to some new tax forms that will probably be around for the long haul. The new forms relate to the impending facilitation of the Patient Protection and Affordable Care Act (Obamacare) and the child tax credit. New forms to the 1040 series package: -Form 8959, Additional Medicare Tax […]
Tax planning help may be needed for taxpayers who, through a combination of tax credits, usually receive a tax refund as opposed to owing, which may be just the opposite in the next couple of years as many common and often used tax credits are set to expire. The following common tax deductions and credits […]
Instant Tax Service has had their doors closed by US district court Judge Timothy Black. Instant Tax was said to have been promoting a “culture of fraud and deception” within its franchisee base. Along with promoting unrealistic and undeliverable refund options to clients, Instant Tax was also sited for filing returns based off of pay […]
Anyone who, for compensation, prepares or helps prepare any federal return or claim for refund must have a valid PTIN from the IRS. The PTIN must be used as the identifying number on returns prepared. “We ask that you renew your PTIN as soon as possible to avoid a last-minute rush. It’s easy to let […]
Citing the need for “adequate time to program and test tax processing systems,” the service announced that it expected a one- to two-week delay in the start of tax season, and that it would start accepting and processing 2013 individual tax returns no earlier than Jan. 28, 2014, and no later than February 4. Tax […]