LIKE US on Facebook! Still wondering if social media is really necessary to improve your business? Consider your audience. If your clients or potential clients are mostly people over the age of 65, odds are that social media may not be your most useful tool. However, it is a FREE ...…
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“We took our first income tax information to a local practitioner in the spring of 1974,” Warner recalled. “However, the main client base of this tax preparer consisted of farmers. After I looked over the completed 1065 partnership return, I felt a desire for a better understanding of the tax laws.” That is when Warner made a decision based on good old common sense. . .…
However, there are still some forms that cannot be filed until later. 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.…
The beloved Refund Cycle Chart has been retired by the IRS. What?! Yes, it’s true. Taking its place is a new and, we hope, improved “Where’s My Refund?” (WMR) application, which gives taxpayers the ability to track their refunds online . . .…
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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...…
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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...…
It is particularly important tax preparers filing EITC (Earned Income Tax Credit) claims complete this section ...…
An international computer hacker recently broke into the South Carolina Department of Revenue database and gained access to over 3.6 million state income tax returns...…
The IRS is trying to help eliminate errors in the reporting of car and truck expenses on a Schedule C. They hope to both educate and remind tax preparers of tax compliance by sending out approximately 5,000 letters to those preparers who have filed a Schedule C with what appear to be irregularities...…
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