The Internal Revenue Service has begun providing test results to tax return preparers who have taken the new return preparer competency test. Those who pass the test and a tax compliance check will be given a new designation: Registered Tax Return Preparer.…
At 9:00 am ET on Thursday, February 16th, we will re-enable Mef for the vast majority of our federal returns. IRS has indicated that their issue has been resolved and their backlog has been cleared.…
The CPA Practice Advisor has announced their 2012 Readers’ Choice Awards and Drake Software has taken the lead, once again.…
Currently, the IRS follows a “look back” model of compliance. With this method, the IRS compares third-party information it receives with that submitted on a tax return, often after the return has already been accepted.…
Read more about IRS Welcomes Feedback Concerning New Real-Time Tax System
The IRS believes a new regulation will help ensure the correct credit is given to taxpayers who qualify and has issued a proposition that will require paid tax preparers to file Form 8867 with any federal return claiming the EITC.…
Read more about Proposed Due Diligence Checklist Requirement
Having trouble finding affordable and convenient ways to meet your Continuing Professional Education (CPE) requirements? Are CPE requirements new to you and you’re not sure where to go or how to get started? Are you looking for ways to brush up on your tax knowledge, but prefer to learn in a self-paced, yet interactive environment?…
“This is an important move for Drake,” stated John Sapp, Vice President of Strategic Development at Drake Software. “GruntWorx allows us to rapidly expand our offerings into the cutting-edge document automation technology arena. This enables us to provide tax professionals with a true end-to-end paperless tax solution and deliver extremely high accuracy rates.”…
Unfortunately, taxpayers often don’t have the solid footing they think they have when it comes to medical deductions. While many medical costs are deductible—including the cost of treatment to alleviate conditions or diseases and the cost of prescriptions and certain diagnostic services—some are not.…
I know you all are thinking …”Hmmm what can I do to celebrate this wonderful occasion?” We all deserve a little something for surviving another tax season, right?…
Read more about Happy End of Tax Season! Who’s Going to Disney World?
