Category: Tax Preparers

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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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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First Time Abate

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 …

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IRS Tax Updates

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 …

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Recent Funding Update

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. …

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IRS Resumes Processing Tax Returns

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 The systems had been down …

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