In response to the recent court ruling which precludes enforcement of the RTRP requirements, the IRS has issued a statement acknowledging that tax preparers do not currently have to meet these requirements...…
Claiming that the IRS overstepped its bounds in expanding its regulatory power to include all tax preparers who prepare and file tax returns for compensation, three bold tax preparers took the IRS to court, and won...…
Many taxpayers, particularly those in the middle class, breathed a brief sigh of relief when Congress passed legislation to keep their income taxes from rising. What they may not have realized, however, is that workers will have to pay at least two percent ...…
The following tax forms will be accepted by the IRS in late February or into March after updating forms and completing programming and testing of its processing systems. A specific date will be announced in the near future...…
Read more about List of IRS forms that 1040 filers can begin filing...
The tax return filing season will start on January 30 for most taxpayers, not on January 22 as originally planned. In addition, tax forms impacted by late extender legislation will be delayed until late February or early March.…
Read more about IRS announces e-file season will not start until January 30!
Since natural disasters seem to be occurring more frequently and with more intensity than ever before, it would seem wise for anyone owning a computer to know a few basic tips about protecting it. Most owners of computers keep personal and business data on their hard drive...…
Late enactment of extenders as part of the “fiscal cliff” legislation, the American Taxpayer Relief Act (ATRA) of 2012, threatens to delay millions of tax returns...…
Read more about Will Millions of 2012 Tax Returns be Delayed?
The standard mileage rate for business purposes is based on an annual study of the fixed and variable costs of operating an automobile, while the rate for medical and moving purposes is based solely on the variable costs...…
Would you like to be a hero to your taxpayers? Offer a few tips to them about deductions they may not know about. Include a list of possible deductions in a pre-season email reminder or include them in a list of hot topics on your website – this will help them prepare for their office visit and help them build their trust in you. Here are a few examples of those things taxpayers often miss……
The IRS processed more tax returns using the new system during the 2012 filing season, according to a report from the Treasury Inspector General for Tax Administration (TIGTA); however...…
