IRS Considers PTIN Privacy Concerns
The IRS is fine-tuning procedures for collecting and releasing the information they gather during Preparer Tax Identification Number (PTIN) registration...…
How to Update Your Credentials
Tax professionals who have already renewed their PTIN and need to update their credentials must do so by calling the PTIN helpline at 877.613.7846. A representative will be able to update the…
Mother Knows Best…
One morning over breakfast, a young Raymond Berardinelli’s mother asked him what his plan was after high school. He would be graduating soon and needed a little direction. His mother had always encouraged him to go to college, but Raymond was thinking more along the lines of going to trade school. His plan was to become a ...…
Continuing Education Requirements for Tax Professionals
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...…
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IRS May Report Tax Debts to Credit Bureaus
Long-standing federal laws protect the privacy of personal information by forbidding the IRS from reporting tax debts to credit bureaus that collect and sell information about the credit history of individuals and businesses. The IRS is, however, allowed...…
Avoiding Things that Cost Accountants Revenue
When a client makes an appointment with you, it’s because they need your help. And it would be easy to call them in and get right down to business. But that’s not always what’s best for you or the client. Here are a few tips that are sometimes easy to forget...…
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Avoiding Audits for Small Businesses
Small businesses are responsible for 84 percent of the $450 billion tax gap and the IRS believes that’s due in part to underreporting. In an effort to increase compliance, the IRS will focus on eight specific areas...…
Leniency Planned for Health Care Enforcement?
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...…
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Google Shortcuts You Should Know...
We're all about saving time, and Google has some shortcuts that will do just that! Did you know...…
MyAccountCard program from the U.S.Treasury Department Suspended
The $1.4 million program was set up to distribute 2010 tax refunds on reloadable prepaid debit cards. The Treasury Department selected 808,000 low to moderate-income tax filers to participate and receive their tax refunds electronically rather than by paper checks. It costs...…
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