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My Tax Blog

  • 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 […]

    How to become a Tax Return Preparer

    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 […]

  • 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 […]

    Important- New Federal Tax Forms for Tax Year 2013

    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 […]

    Say “Goodbye” to These Common Tax Deductions

    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 […]

    4th Largest Tax Prep Chain in US Shut Down by Federal Gov.

    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 […]

    2014 IRS PTINs Now Available!

    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 […]

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