Stuck with too much Halloween candy? Consider this list of ways to empty your bag… and don’t forget to consider the tax consequences!
Earlier this year, the AICPA filed suit against the IRS to stop the new Annual Filing Season Program. The court has ruled and IRS gets the win (on procedure).
It’s that time of year again! With the 2015 tax filing season just months away, IRS reminds tax preparers that they must have a valid PTIN. And for those seeking voluntary credentials, the AFSP will be opening shortly.
Today, a federal court judge dismissed two high profile lawsuits against the Internal Revenue Service over its handling of tax exempt organization applications. What do those rulings mean for other tax exempt organizations? The answer might surprise you.
Trying to reach IRS over the long weekend? Hoping to use e-Services to file by the extension, match a TIN or other service? You’re out of luck until Tuesday.
In a scathing 233 page ruling issued earlier this month, U.S. District Judge Timothy S. Black ordered Instant Tax Service (“ITS”), the fourth-largest tax preparation business in the United States, to shut down its operations. In his ruling, Judge Black wrote that he agreed with the federal government that “[t]his case presents an astonishing array of repeated fraudulent and deceptive conduct” by the Defendants. The Defendants included Fesum Ogbazion, the CEO and sole owner of ITS Financial, and his three companies: ITS Financial, Tax Tree and TCA Financial. The decision followed a nine day bench trial where evidence, according to …
When the IRS implemented rules requiring tax preparers to register in order to prepare tax returns, the idea was that it would keep taxpayers safe. But is it?
The pool of tax preparation services just got a little smaller: a federal court judge has ordered Instant Tax Service (“ITS”), the fourth-largest tax preparation business in the United States, to stop all operations permanently for “extensive and egregious, indeed appalling” harm to taxpayers.
Last year, three tax preparers sued the Internal Revenue Service to prevent the agency from pushing ahead with new regulations. The three were successful – and the IRS filed an appeal. Yesterday, the IRS had the chance to tell a panel of judges why the regulations are appropriate. Were those oral arguments convincing?
With a few weeks to go before tax returns are due for those individuals on extension, tax professionals are already looking forward to the season being over. But who’s to blame for the mess this year?