It is the proper reporting of wages to a domestic employee. A domestic employee is someone that you employee to work in or around your home. This can include individuals who are gardeners, landscapers, housekeepers, maids, caregivers, and even your handyman. For our discussion, let’s limit this to caregivers.…
A new study by the National Taxpayer Advocate used confidential IRS data to show large clusters of potential tax cheats in these five metropolitan areas. The IRS uses the information to target taxpayers for audits....…
The IRS faced several time constraints this year. Tax professionals and taxpayers everywhere were anxious to process returns, and the effects of the delay were felt by everyone when tax season did not start on time. The major reason for the deferral was ...…
Richmond’s Taxpayer Protection and Preparer Fraud Prevention Act of 2013 would give the Internal Revenue Service more oversight to certify paid tax preparers and ensure they are “competent, of good character and able to render services.” The legislation also would allow the IRS to...…
Analysis by the Internal Revenue Service indicates that the error rate for individual tax returns has been cut by more than half. Last year, the IRS identified ...…
The Congress shall have power to lay and collect taxes on incomes from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration. [U.S.…
Here are some tips any business owner can follow to get more referrals:…
Read more about Get Referrals by Following the Law of Contribution
The deadline to register for or renew your PTIN (Preparer Tax Identification Number) for 2013 is December 31, 2012. All paid tax preparers must have a PTIN and it must be renewed annually. This year ...…
Enrolled Agents and Enrolled Retirement Plan Agents must complete 72 hours of continuing education every three years – a minimum of 16 hours per year, two of which must be on ethics...…
Read more about Continuing Education Requirements for Tax Professionals
It is a question many people have been asking since March of 2010, when President Barack Obama signed the Affordable Care Act (ACA) into law. How will the Internal Revenue Service enforce the law’s mandate requiring Americans to buy health insurance? According to a high-ranking IRS official, the agency plans...…
Read more about Leniency Planned for Health Care Enforcement?
