News, practice tips, and industry updates for CPAs, enrolled agents, attorneys, and everyone else working in tax professionally.
The Internal Revenue Service (IRS) has announced that the 2020 IRS Nationwide Tax Forums will go virtual in 2020. The agency will be hosting a series of live-streamed webinars beginning this July. “Given restrictions on large gatherings and difficulties with travel, we’ve made the decision to present the IRS Nationwide Tax Forums in a virtual…
There’s so much happening now. Here’s where you can find information on how COVID-19 is affecting tax returns and, of course, those stimulus checks. Got questions about stimulus checks? I’ve got answers. There are separate pieces for high school seniors and college students, as well as seniors (seniors piece is updated here). IRS has pushed…
Have a Tax Court matter? If you’ve clicked over to the Tax Court web site lately, you’ve likely seen this: It reads: The U.S. Tax Court would like to assure the public that the Court is following recommended guidelines provided by the Centers for Disease Control and Prevention with respect to the COVID-19 Virus. For…
Taxpayers are often quick to complain about customer service issues. Now, the Taxpayer Advocacy Panel (TAP) is seeking volunteers who are willing to help the Internal Revenue Service (IRS) identify ways to improve customer service and satisfaction. TAP was established in 2002 under the authority of the Department of the Treasury. It’s a Federal Advisory Committee made…
With tax season in full swing, the Internal Revenue Service (IRS) has issued a reminder to taxpayers to avoid unethical “ghost” tax return preparers. A ghost preparer is a paid tax preparer who isn’t on the IRS’ radar because he or she doesn’t have a Preparer Tax Identification Number (PTIN). And to stay hidden, a ghost preparer will take…
There was a lot of tax talk in 2019 – especially on social media. From Bitcoin to stretch IRAs to tax refunds, Twitter streams were filled with news, links, and best practices focused on tax. Twitter is an easy way to find out what’s happening in the tax world – for tax professionals, taxpayers and…
The Justice Department has announced a settlement with Franchise Group Intermediate L 1 LLC, (Liberty), the national franchisor and owner of Liberty Tax Service stores. The settlement, if approved by the court, would resolve a complaint filed with a U.S. District Court in Norfolk, Virginia, by the Justice Department against Liberty. Liberty is one of the largest tax preparation service…
The Internal Revenue Service (IRS) Preparer Tax Identification Number (PTIN) season is open. Tax pros who expect to prepare tax returns for compensation in 2020 can now renew their PTINs. All current PTINs will expire on December 31, 2019. “Last year we issued more than 813,000 PTIN’s and are asking tax preparers to renew now…
The Internal Revenue Service (IRS) has scheduled its 2019 Nationwide Tax Forum season. The first forum, planned for July 9-11, 2019, in National Harbor, Maryland, will focus on tax reform changes and cybersecurity tips for tax professionals. Tax lawyers, Enrolled Agents (EAs), Certified Public Accountants (CPAs), Certified Financial Planners (CFPs), Annual Filing Season Program participants,…
To fee or not to fee? That’s been the question for nearly nine years. Now the Internal Revenue Service (IRS) believes that it has an answer: A D.C. Circuit Court has upheld the IRS’ authority to charge fees for issuing and renewing Preparer Tax Identification Numbers (PTINs). A PTIN is like a substitute Social Security Number…