In the fall of 1981, 20 years before 9/11, I graduated from the XMBA program at Pace University in Manhattan (my birthplace). Our morning graduation was held in the Pace Schimmel Center at the foot of the Brooklyn Bridge. Several larger XMBA…
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IRS RTRP Exam Update
I spoke with Prometric in the Exhibit Hall at the IRS Tax Forum in Atlanta and they advised that the IRS Exam will be live this October. This was also confirmed in a seminar by the IRS. IRS has still not…
Should you get out of the ‘fast refund’ business?
If you are an independent tax business owner who is capable of preparing complex tax returns, the answer may be “Yes”. The latest proposal is for IRS to develop its own free tax preparation software to “cut-out the middle man” (tax preparers). …
IRS Urged to Provide Its Own Tax Software
Click to view full article at AccountingToday for the Web CPA
The tax preparation business has changed significantly in recent years, and even more dramatic changes are coming in the future. To survive and grow, independent tax businesses must also change. These changes will include new marketing strategies and tactics, adoption of new technologies, new…
Small Business Owners and Tax Preparation
Here is some interesting research about how small business owners feel about tax preparation. They says that it is both harder and more time consuming than last year. Adding or expanding services to small business clients can be an excellent way to…
Free Broadcast from IRS Live – Requirements for Federal Tax Return Preparers
Presented by the Return Preparer Office Date: March 30, 2011 (archived* for later viewing) Time: 2 p.m. Eastern This FREE broadcast is for: All Paid Tax Return Preparers Since Jan. 1, 2011, a new registration requirement has been in place for federal…
IRS Kicks Off 2011 Tax Season with Deadline Extension
The following is a news release from the IRS. WASHINGTON — The Internal Revenue Service today opened the 2011 tax filing season by announcing that taxpayers have until April 18 to file their tax returns. The IRS reminded taxpayers impacted by recent…
Payroll Tax Cut to Boost Take-Home Pay for Most Workers
From the IRS Newsroom: WASHINGTON ― On Dec. 17, 2010, The Internal Revenue Service released instructions to help employers implement the 2011 cut in payroll taxes, along with new income-tax withholding tables that employers will use during 2011. Millions of workers will…
IRS Reminds Paid Tax Preparers to Register Now for PTINs
The following is a press release from IRS.gov: WASHINGTON — As year end approaches, the Internal Revenue Service today strongly encouraged paid tax return preparers to register now for their new or renewed Preparer Tax Identification Numbers (PTINs) to avoid any last-minute…
Jackson Hewitt gets 80% RAL funding, shares soar
(Reuters) – Jackson Hewitt Tax Service Inc (JTX.N) said it could fund 80% of its refund anticipation loan (RAL) program and would secure a longer-term covenant waiver with its lenders, sending the company’s shares up 35%. Jackson Hewitt said it amended an…
IRS Continues Efforts to Ensure Accurate Return Preparation
The following is a press release from the IRS: WASHINGTON — The Internal Revenue Service has started sending out more than 10,000 letters to tax return preparers nationwide to remind them of their obligation to prepare accurate tax returns on behalf of…