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IRS Opening Day 2024

IRS opening day

The IRS seems to get later and later in announcing the opening day of tax season. With that being said, they announced the date today to be Jan 29th.  The Internal Revenue Service today announced Monday, Jan. 29, 2024, as the official start date of the nation’s 2024 tax season when the agency will begin …

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IRS Free Webinar Dec 14

IRS webinar

Announcement from the IRS regarding a free webinar on the 1099K delay for third- party reporting and the rollout for 2024 is below:   The Internal Revenue Service will hold a free webinar, designed primarily for tax professionals whose clients receive income typically reported to them on Form 1099-K, including those who often use popular payment apps and …

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1099 K Reporting Threshold For Third Part Platforms Delayed

1099k reporting delay

In more good news, the IRS announced the delay of the 1099k threshold amount for third-party platforms. This is good news for preparers as it was about to cause some confusion among the tax industry.  For more details on what the roll-out of this new reg, the IRS will host a webinar sometime next month. …

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IRS drops PTIN Registration Fees

IRS_reduces-PTIN- fees

GOOD news comes early for tax preparers as the IRS has dropped the PTIN fee to $19.75.   Currently, PTINs are required to file taxes professionally. Although they are not free as they were a few years back, they have been way more expensive the last two years.  Below are some details as to how to …

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2022 tax filing season begins Jan. 24; IRS outlines refund timing and what to expect in advance of April 18 tax deadline

IR-2022-08, January 10, 2022 WASHINGTON — The Internal Revenue Service announced that the nation’s tax season will start on Monday, January 24, 2022, when the tax agency will begin accepting and processing 2021 tax year returns. The January 24 start date for individual tax return filers allows the IRS time to perform programming and testing …

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IRS announces 2021 PTIN fees for tax return preparers IR-2020-159, July 15, 2020 WASHINGTON — The Internal Revenue Service announced today the annual fee for 2021 that tax return preparers must pay to apply for or renew their Preparer Tax Identification Number (PTIN). In final regulations issued today, the IRS set a $21 fee per PTIN application …

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2019 Tax Season Opening Day- Jan 27th 2020

IRS opening date 2020

Zip Refund is open for yet another tax season and as of today, the IRS announced when they will be, too. The Internal Revenue Service confirmed that the nation’s tax season will start for individual tax return filers on Monday, January 27, 2020, when the tax agency will begin accepting and processing 2019 tax year …

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IRS Changes The 1040 Again – Wait, WHAT?

irs changes 1040 again

Guess the first time they tried this, they did not succeed and it did not go so well so they are trying again.  Last year a postcard- this year… The IRS revealed that the 1040 will have several changes for the coming tax season. First, the 1040 is being enlarged to allow more information to …

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2019 Tax Refunds Will Be 26% Higher, Morgan Stanley Says

Odds are you’re paying too high a tax bill today. The good news, though, is that means you could see a notably higher refund next year. A research note from Morgan Stanley estimates 2019 refunds will top this year’s by 26%, working out to an extra $62 billion given back by the Internal Revenue Service. Payroll taxes …

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10 tips for tax pros to avoid phishing scams

10 tips for tax pros to avoid phishing scams By Jeff Stimpson Published September 17 2017, 5∶09pm EDT The inbox seems to have become tax preparers’ worst enemy in this age of phishing e-mails designed to trick preparers into volunteering critical information. Crooks convert stolen data into phony refunds faster than ever, and it’s easy …

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