Has anyone been successful in going nearly 100% paperless? If so, what is your formula for success? We are trying, but find it difficult to get our tax preparers to provide client copies on CD and many clients still insist on paper…
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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…
EA vs CPA credential – which is more important?
In my experience, if a taxpayer has a complicated tax situation he or she immediately thinks of getting help from a CPA. However, I know that not all CPAs are trained and experienced in the specialized field of individual and small business…
The Income Tax School Will Help You Meet IRS Tax Preparer Regulations
The Income Tax School will meet New IRS Regulation Guidelines for Tax Preparers to complete IRS Competency Exam and yearly continuing education requirements You can count on The Income Tax School (ITS) to meet the new standards the IRS has announced for…
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…
Hiring Tax Preparers
I am often asked to explain how we use our Income Tax School as a tool to recruit & train qualified seasonal tax preparers. When I founded Peoples Income Tax in 1987 after working for 19+ years for H&R Block, I decided…
It Can Be Lonely at the Top
Being an entrepreneur can be very challenging because, as the “CEO”, you have no one in your business with whom you can interact at a peer level. And you have no superior to provide guidance. It can be very lonely at the…
IRS Tax Preparer Regulation to Boost Continuing Education Classes
Required IRS Tests and Annual Continuing Education Will Increase Demand for Tax Courses & Seminars On January 4, 2010 the IRS announced its decision to regulate tax preparers and require tests of basic competency, plus annual Continuing Professional Education (CPE). According to the…
The Income Tax School Nominated as a Greater Richmond Company to Watch
Richmond, VA –- October 2, 2008 – The Income Tax School has been nominated as a 2008 Greater Richmond Company to Watch (GRCTW), an annual event recognizes a select group of innovative companies with high growth potential. According to the GRCTW sponsor,…
The Income Tax School Approved for Oregon Tax Preparers
Richmond, VA – October 15, 2008 – The Income Tax School (ITS) has become licensed as a private career school by the Oregon Department of Education and announced the debut of an online version of its Comprehensive Income Tax Course approval by…
Pending IRS Tax Preparer Regulation Spawns Chartered Tax Professional Certification Program
The Income Tax School today announces their Chartered Tax Professional – CTP® program, designed to be the industry standard for training paid tax preparers. Richmond, VA, Sept. 28, 2006 — Federal legislation regulating paid tax preparers is moving forward in the Congress.…
Peoples Tax School Embarks on National Expansion
August 1, 2006 Richmond, VA — Peoples Income Tax, Inc. President Charles E. McCabe announced that the company’s Peoples Income Tax School (PTS) division has developed a series of new tax preparation courses and Continuing Professional Education (CPE) programs, as well as…