Wondering where your amended return could be?A new tool, provided by the IRS, allows you to check the status of a Form 1040X, Amended Tax Return, for current and up to three prior years. The new tool…
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The US Internal Revenue Service was prevented this week from implementing its plan to regulate tax preparers. The plan, which required test-taking and continuing education for preparers, was struck…
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RTRP UpdateRefunds may be requested, for anyone who may have scheduled the RTRP exam, using their PTIN account. Once logged in, you may cancel your exam and complete the request for refund form. The…
New Test Specifications for EA ExamThe IRS recently updated the terms for the Special Enrollment Examination. These are posted on prometric.com/irs. Also, there is a version posted for those who want…
After the real estate crash, many taxpayers' mortgages exceeded the value of their properties, so they did a short sale or went through a foreclosure. Many of these taxpayers received...…
Taxpayers who pay qualifying expenses for a student can be eligible for the American opportunity tax credit, lifetime learning credit, or the tuition and fees deduction...…
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WASHINGTON —The Internal Revenue Service today provided late-payment penalty relief to individuals and businesses requesting a tax-filing extension because they are attaching to their returns any of the forms that couldn’t be filed until after January.…
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IRS Fires BackThe IRS has fired back against tax preparer responses concerning a recent motion it filed in the case of Loving v. IRS – a lawsuit three preparers filed against the IRS charging it does…
A new website provided by Drake Software hits the sweet spot, giving taxpayers and employers a to-the-point, layman’s overview of the Affordable Care Act’s (ACA) looming tax implications. The site, located at...…
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The IRS has seen a few problems with the way the form is completed that could delay processing. The IRS has requested tax preparation software providers modify their programs so that they require completion of the correct boxes...…
