If you are considering starting a tax preparation business, there are a few different types of actual costs to consider. Each type of cost will require sacrifice and planning. The three main types of small business start-up costs to consider are: finances, time, and effort (mental and physical costs). To help measure the real financial […]
Start by knowing that the IRS or software vendor will never ask you for your personal information and security questions via email. Please take some time to read our online information security tips below. Always be suspicious of unexpected emails, even if it appears to come from a legitimate source. Triple check emails before ever […]
Please be on the alert for fraudulent email messages requesting sensitive personal and business tax information. These emails can appear to come from many different sources pretending to be the IRS, Federal Direct, State Departments of Revenue, Tax Software Companies, etc. One such recent IRS tax scam email has been identified as coming from a […]
No, an ITIN holder cannot claim credits for back year’s returns. The law changed in Dec. 2015 with HR2029. This means no Child Tax Credit or American Opportunity Credit (among others) for any year beyond a current and timely filed tax return. If you file late, as in after April 15th, you will NOT get […]
Today, the IRS re-opened the PTIN System and is again issuing PTINs. Since the IRS is enjoined from charging a fee, it will issue the PTINs at no cost to the preparer. If you currently have a PTIN, you can now log into your account to make changes and view CPE information as normal.
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 […]
Late breaking news: IRS to delay the start of e-filing season again this year, blaming the recent government shutdown. While the IRS reserves the right to issue the final decision for the start of the 2014 filing season until December they are estimating the start date being pushed back from the original date of January […]
The IRS has reopened phone lines and says that they expect an increased demand in phone services. Due to the back log of work due to the government shutdown, the Service politely requests that you wait to call or contact them based on the severity of your situation. The service expects to be caught up […]
If you are considering starting a tax preparation business, there are a few different types of actual costs to consider. Each type of cost will require sacrifice and planning. The three main types of small business start-up costs to consider are: finances, time, and effort (mental and physical costs). To help measure the real financial […]
Start by knowing that the IRS or software vendor will never ask you for your personal information and security questions via email. Please take some time to read our online information security tips below. Always be suspicious of unexpected emails, even if it appears to come from a legitimate source. Triple check emails before ever […]
Please be on the alert for fraudulent email messages requesting sensitive personal and business tax information. These emails can appear to come from many different sources pretending to be the IRS, Federal Direct, State Departments of Revenue, Tax Software Companies, etc. One such recent IRS tax scam email has been identified as coming from a […]
No, an ITIN holder cannot claim credits for back year’s returns. The law changed in Dec. 2015 with HR2029. This means no Child Tax Credit or American Opportunity Credit (among others) for any year beyond a current and timely filed tax return. If you file late, as in after April 15th, you will NOT get […]
Today, the IRS re-opened the PTIN System and is again issuing PTINs. Since the IRS is enjoined from charging a fee, it will issue the PTINs at no cost to the preparer. If you currently have a PTIN, you can now log into your account to make changes and view CPE information as normal.