It feels like the last tax season just ended (okay, it kind of did), but the Internal Revenue Service (IRS) is already sending out reminders for tax professionals to start the upcoming 2021 filing season. Specifically, the IRS is reminding paid preparers to renew their Preparer Tax Identification Numbers (PTINs) now. All current PTINs will expire…
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…
X is for X-Mark (Signature). No matter how thorough and accurate your tax return is, it’s not considered a valid return unless you sign it. If you are filing a joint tax return, your spouse must also sign. If you can’t sign your tax return for some reason, a representative can sign it on your…
I hate standardized tests. My daughter, a straight-A student at her elementary school, was freaking out over taking the PSSAs, the state-issued assessment tests in Pennsylvania, this week. She was a bundle of nervous energy, talking through a litany of “what if?” questions, all of which appeared to revolve around some kind of worst-case scenario….
I had a great time on Friday with our “Ask the taxgirl LIVE” segment. I know there wasn’t a lot of notice about it and yes, I heard about it (thanks for your emails and messages). This was my first time live blogging on Forbes and we had some technical pieces to work out. That…
So I’m going to let you in on a little secret: I don’t prepare my own tax returns. Completely true. It is how I stay married. You see, I used to prepare my own returns for my business and for my household. And I did just fine for a bit. But then I had three…
The IRS is forging ahead as part of its master plan to increase oversight of tax preparers across the country. In addition to Preparer Tax Identification Number (PTIN) registration, the IRS will require certain paid tax preparers to pass a competency test by December 31, 2013. It’s the certain in the phrase “certain tax preparers”…
It’s baaaaack! The IRS has announced that professional tax return preparers can now renew their Preparer Tax Identification Numbers (PTINs) for the 2012 filing season. PTINs must now be renewed annually as part of the IRS’ plan to raise revenue regulate professional tax preparers. Tax preparers who fall under the registration rules are those prepare,…