Category: Tax Updates

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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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 Cuts Back Help Desk Hours for Tax Pros

irs cutbacks

IRS Cuts Back Help Desk Hours for Tax Pros 77 WASHINGTON, D.C. (JANUARY 16, 2015) BY MICHAEL COHN The Internal Revenue Service is eliminating the extended weekday hours, Saturday and President’s Day availability of its e-help desk service due to budget cuts.   Get access to this article and thousands more… All Accounting Today articles …

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Tax Extenders Bill Should Keep Tax Season Opening On Track

2015 tax season

The President is expected to sign the tax extenders bill which will extend the tax breaks until the end of 2014, but will force Congress to have to take up the issue again in 2015. Maybe they will do it sooner than the end of the year next year… This should keep the tax season …

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IRS Start Date 2014 is January 31

IRS start date

Although this is the latest ever the IRS has started accepting returns, they seem to think it will not affect the season significantly. They recently announce their start date to be Jan 31, 2014 for the first efile acceptance. They will not be accepting any returns including paper before that and if someone files by …

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IRS Delays Tax Season For the Second Season In A Row

irs delays

This past week the IRS announced they will be delaying tax season for the second year in a row. Based on the government shutdown, the IRS feels they can not be ready to start accepting returns on January 21, 2014 and must push out the start date a week or two. Some groups including the …

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Why Start Your OWN Tax Business Instead of an Hourly Job

There are several means to locate a tax preparer job based upon the sort of work you are looking for in regards to tax obligation prep work. If you are a tax preparer, you realize that this type of position is periodic, nonetheless, it could additionally be quite lucrative. Although you may be looking for …

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