Tax Preparer Sentenced for Filing False Tax Refunds Using Client Identities
It’s a story we’ve come to know so well. The friendly tax preparer who you think you can trust ends up filing false returns and having your money deposited into his account. Once again, we see another preparer, this time unlicensed, doing the wrong thing the wrong way. Job Lopez was sentenced to 6 months […]
Tax Preparer Implications of the Supreme Court Upholding Affordable Care Act
This morning the Supreme Court upheld the constitutionality of the Affordable Care Act. The most debated issue was the individual coverage mandate element of the law which levies penalties to taxpayers who are required to purchase insurance coverage but fail to do so. Administration of the Affordable Care Act will be serviced by the IRS; […]
IRS Strengthens ITIN Requirements- What This Means For Your Office
The IRS announced today that it has put in place new “interim procedures” designed to “help protect the integrity” of the ITIN process. During this interim period, no ITINs will be accepted or assigned without original documentation, such as passports and birth certificates, or certified copies of these documents from the issuing agency. Even Certifying […]
Immigration Policy Update: HSA Announces Deferred Action Process for Young People
The Department of Homeland Security has announced a new initiative regarding discretion on a case by case basis with younger illegal immigrants. Many illegal immigrants are brought over as children and live the lives of immigrants even though many of them have spent their entire lives in the United States, in some cases, even graduating […]
IRS e-file System Down for Processing
IRS will be conducting Disaster Recovery exercises on Saturday June 9th and again on Saturday June 16th . They will not be processing returns beginning at 6PM Eastern on Friday June 8th, and they intend to bring the system back on line at 8:00 AM Eastern on Monday June 11th. The Same procedure and timeline […]