Although most everyone is aware of the dangers of identity theft, the IRS is expecting difficulties in wading through all of the tax returns that are to be filed this year. The hardest part will be…
Winter means cold weather, less sunlight, shorter days, and less time spent outside. This combination can cause a vast amount of people to feel a mild form of depression known as the “winter blues...…
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!
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...…
Taxpayers who fall within income levels under the Alternative Minimum Tax (AMT) requirement, or “wealth tax” as it’s often referred to, may be unable to file their tax return until late March if Congress does not agree to a fiscal cliff deal by December 31.…
Read more about Fiscal Cliff Negotiations May Delay Filing for Millions
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…
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...…
Finding Ways for Accounting Professionals to Increase Revenue: Providing clients with the trust they desire in an accounting professional, explaining to them all you can do to help them increase their revenue, teaching them what a difference the knowledge of an accounting professional can make, and...…
The Treasury Inspector General for Tax Administration performed an audit on the OIC program in an attempt to discover why there has been a 28 percent increase in the number of requests for offers in compromise. The results found ...…
Read more about Treasury Inspector General for Tax Administration Performs Audit
