I am at the NYC IRS Tax Forum and have talked with my contacts at several RAL banks. The SBBT successor has funding and a bank partner and will be providing RALs, as will a few other RAL banks. The same thing…
Displaying: Tax Preparer Regulations
The New Rules for Paid Tax Preparers
If you employ seasonal tax preparers how can you ensure that they are able to pass the IRS competency exam? Many tax preparers rely too much on tax software and don’t have enough tax knowledge to pass the IRS exam. We will…
What is IRS Section 7216?
Has anyone been visited by the IRS to determine compliance with IRS privacy regulations (Section 7216). The IRS privacy code requires that all taxpayer information be kept strictly confidential. Having a taxpayer’s documents with social security numbers visible on a desk in…
Reporting Tax Fraud
When is it appropriate for a tax preparer to report fraud and how is fraud reported to the IRS? One year I had a taxpayer come in to apply for a RAL. His return had been prepared by an attorney and he…