The IRS is alerting tax preparers about possible delays in processing returns with the Child Tax Credit because of errors.Monday the IRS sent this alert to tax professionals...We have observed…
Read more about Schedule 8812, Child Tax Credit Attached to Form 1040 or Form 1040A
Winter means cold weather, less sunlight, shorter days, and less time spent outside. This combination can cause a vast amount of people to feel a mild form of depression known as the “winter blues...…
The Internal Revenue Service announced today that taxpayers will be able to start filing two major tax forms next week: Education Credits, Form 8863, and Depreciation and Amortization, Form 4562...…
Read more about IRS to Accept Tax Returns with Education Credits, Depreciation This Week
These regulations provide guidance for who may enroll in eligible employer-sponsored health coverage and who may enroll in qualified health plans through Affordable Insurance Exchanges and claim the premium tax credit.…
Read more about IRS News from the Patient Protection and Affordable Care Act of 2010
It’s almost time for that first taxpayer to walk through the door, W-2 in hand with the hope of a refund looming in their head. And it’s up to you to know all the “secrets” that will help them find that refund...…
The federal minimum wage has remained at $7.25 per hour since 2009, but workers in several states will be making up to $2 more than the federal minimum thanks to automatic adjustments enacted to compensate for inflation...…
It has been a very busy month for the Internal Revenue Service. Members of Congress finally nailed down some tax legislation for 2012, and 2013. However, their last minute decisions put the IRS behind when it comes to processing tax returns because the agency has to work to update its software to adjust for the new laws...…
The 1040 Legacy e-file system has officially been retired. It is still technically available for one more year, but will be revived only if the new system experiences a significant failure. This is a huge milestone for the IRS...…
Read more about What The Modernized e-File System Means For Tax Preparers
In the meantime, it is recommended that preparers who have already been assigned a Preparer Tax Identification Number (PTIN) continue to use it to protect their identity.…
Read more about RTRP Program Shut Down...PTIN Still Recommended
According to the IRS, at 9:00 am, Eastern Standard Time (February 4, 2013), the Modernized e-File (MeF) system began accepting Tax Year 2012 Business Tax Returns with the exception of the limited list…
Read more about Opening for e-Filing Tax Year (TY) 2012 Business Tax Returns
