The U.S. Treasury is taking measures to collect on the over $400 billion dollars worth of tax bills out there. To do this, Congress has passed a section of the Fixing America’s Surface Transportation (or FAST) Act that instructs the IRS to use private…
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IRS Tax Forum Recap
It has been a busy couple of months for the team at The Income Tax School! We’ve been on the road to exhibit and attend IRS Tax Forums across the country! From Chicago to New Orleans, to Maryland, Orlando, and San Diego…
Accounting Today’s 2016 Top 100 Most Influential People in Accounting
I am excited and honored to announce that I have been named among Accounting Today’s 2016 Top 100 Most Influential People in Accounting. Each year, Accounting Today names the top 100 “thought leaders, visionaries, regulators, and others who are shaping the profession.” This…
How to Protect Your Clients’ Information
As a tax preparer, you are privy to a lot of confidential information – information that could do your clients severe harm if it ended up in the wrong hands. This year, the IRS has been making a lot of changes to…
What is the fate of IRS Commissioner Koskinen?
House Conservatives are trying to force a vote to impeach IRS Commissioner John Koskinen. Action on the motion – if the motion for a vote to impeach is passed – could be delayed until September. Today we find out whether that vote…
Tax Scam Round-up: Know What You’re Up Against
Step aside tax evaders, the IRS has a new criminal in their crosshairs: tax scammers and identity thieves. Don’t think it will happen to you or your clients – or to you? Think again. As of this March 2016, the IRS reported identifying…
Mind Your Manners, Tax Pros: Business Etiquette for Tax Preparers
Tax preparation is more than just numbers, it’s relationship building and customer service. While the entertainment business portrays us as curmudgeons and socially awkward nerds, the reality is if we played those parts in real life, we wouldn’t have any clients! Etiquette is extremely important…
Five Things Tax Preparers Could Learn From the Military
May is National Military Month – a month set aside to honor those who serve: past and present. Military personnel learn a lot throughout their training and experience that we as tax preparers should take note of. Here are five things tax preparers…
Could Tax Preparation Be A Side Hustle?
Have you heard the term “side hustle”? It’s a fairly new phrase that refers to making extra money on the side. Side hustle could be extra money you earn while pursuing your passion or a way to delve into your passion by…
4 Ways to Reach Out to Late Filers
There are all kinds of people in this world … People who jump on to-do items and get them done as soon as possible. People who handle their affairs in a timely manner. People who procrastinate until the absolute very last minute. People…
Paying Your Tax Bill Just Got… Convenient
Paying your taxes just got a little more convenient thanks to a new partnership with the IRS, ACI Worldwide’s OfficialPayments.com the PayNearMe Company, and 7-Eleven. Yep, 7-Eleven. Taxpayers can now fill up, grab a Slurpee and pay the IRS at one of 7,000 7-Eleven…
How to Qualify For A Deduction Under Work Related Education
Chances are, if you are reading this blog you are either a tax preparer who has taken continuing education courses, a tax preparer who has just completed their tax education, or a tax student. Either way, it’s tax time, and the question…