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 …
Category: Tax Preparers
Dec 18
PATH of 2015
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 …
Oct 30
IRS Lowers Amount for PTIN Number
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
Tax filing problems could jeopardize health law aid for 1.8M
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Feb 21
800,000 Taxpayers Received Wrong Tax Info from Health Insurance Marketplace
800,000 Taxpayers Received Wrong Tax Info from Health Insurance Marketplace 454 WASHINGTON, D.C. (FEBRUARY 20, 2015) BY MICHAEL COHN Approximately 800,000 taxpayers who received health care coverage through the federal insurance marketplace Healthcare.gov were sent the wrong information on their Form 1095-A and are being urged to wait to file their taxes until the first …
Dec 14
Zip Refund Teams Up With RefundSafe for Third Year
Zip Refund had teamed up with RefundSafe to allow their nationwide tax preparers to offer this valuable add on service to their clients for the third year in a row. With acknowledgement the problem of irs identity theft continues to get worse for their preparers and clients, it was one of the first companies to …
Nov 11
Obtaining Your PTIN -Preparer Tax Identification Number
A preparer tax identification number must be obtained by a person who, for a fee, prepares or assists in the preparation of individuals’ or the tax returns of a ‘business’, refund claims or other forms of federal compensation. Enrolled agents are also required to have a PTIN. If you already have this number, you must …
Nov 03
IRS Adjusts Tax Rate and Deduction Levels for 2015
IRS Adjusts Tax Rate and Deduction Levels for 2015 360 WASHINGTON. D.C. (OCTOBER 30, 2014) BY MICHAEL COHN The Internal Revenue Service announced the annual inflation adjustments for tax year 2015 for more than 40 tax provisions, including the tax rate schedules, and other tax changes. Get access to this article and thousands more… …