Jul 16
First Time Abate: The ‘Get Out of Tax Penalties Free’ Card JULY 13, 2016 BY PAUL L. MANCINONE AND ALISON WALSH Most tax practitioners occasionally find themselves in the position of having to deal with clients who have received penalties for late filing of tax returns or late payment of income taxes. Click here to …
Apr 20
2016 Changes to EITC, Child Tax and Education Credits, and 2017 Filing Season Refund Delays for Returns with EITC As the main part of the 2016 filing season comes to a close, it is time to emphasize the coming important changes to the preparer due diligence requirements, refundable credits, and refunds for the 2017 …
Feb 11
IRS Funding & Taxpayer Identity Verification February 11, 2016 – An Update on IRS Funding Patterns As of this morning, the IRS has paid approximately 70% of refunds related to taxpayers who filed within the first weeks of the season. That leaves approximately 30% of these taxpayer refunds yet to be paid by the IRS. …
Feb 05
WASHINGTON, D.C. (FEBRUARY 5, 2016) BY MICHAEL COHN The Internal Revenue Service said it resumed processing individual and business tax returns at approximately 5 p.m. Thursday following resolution of its system outage. Many of the tools and applications came up earlier on Thursday morning, including “Where’s My Refund” on IRS.gov. The systems had been down …
Jan 28
As of 7am Eastern this morning, the IRS has still only released a small trickle of refunds so far this year. Never in the history of e-file have most early filers waited this long to receive their refund. By the end of today, the IRS is scheduled to release approximately 10% of refunds under $1000 …
Dec 22
Tax Time is Approaching! Are you ready? The IRS announced that e-filing will open on Tuesday Jan 19th. Tell your clients and get ready for another great tax season with Zip Refund.
Dec 18
Protecting Americans from Tax Hikes Act of 2015 (the PATH Act) – 12-18-2015 Here is a list of key provisions. Made permanent: Enhanced Child Tax Credit Enhanced American Opportunity Tax Credit Enhanced Earned Income Tax Credit IRA-to-charity — California automatically conforms R&D credit IRC §179 — enhanced Above-the-line educator deduction Sales tax deduction Built-in …
Dec 14
Seven Steps for Making Identity Protection Part of Your Routine IRS Security Awareness Tax Tip Number 3, December 7, 2015 Español The theft of your identity, especially personal information such as your name, Social Security number, address and children’s names, can be traumatic and frustrating. In this online era, it’s important to always …
Oct 30
The IRS recently announced that it will be charging less for PTIN (Preparer tax identification number) registration and renewals. The PTIN is required to be a paid tax preparer so this is good news for all tax preparers. Instead of the usual $63 it will now only cost $50 for the upcoming 2016 tax season. …
Aug 05
FINANCE JULY 06, 2016 Verizon hikes prices, though new options could save money Verizon is hiking prices on its cellphone plans, though the new rates come with changes that might save you money. If you … JULY 05, 2016 Conservative Party starts choosing leader as pound sinks The race to succeed Conservative Prime …
