H&R Block is suing their exclusive RAL banking partner HSBC for failure to properly preparer to offer Refund Anticipation Loans this season. Bad news travels fast as H&R saw its stock price drop nearly 11% following the news.

Time to start motivating clients to sign those 8879s so you can get their returns electronically filed.  the e-file deadline of 10/15/2010 is only 2 days away!

Preparers identified as being “at risk” for filing 2010 returns with EITC errors, will get letters, visits and due diligence audits. The contacts are focused primarily on education and are aimed at improving compliance with regulations. IRS will monitor returns and continue to ramp up enforcement if improvement isn’t evident.

The e-filing season will be wrapping up this Friday, 10/15.  All 2009 return completed after that will have to be paper filed.  There is a couple of additional days to send returns through that were rejected, but for all practical purposes, get those returns completed and send in ASAP!

Tax Franchising compared side by side to a Tax Prep Partnership.