An Individual Taxpayer Identification Number (ITIN) is a nine-digit number issued by the Internal Revenue Service (IRS) to individuals who are required to have a U.S. taxpayer identification number but who do not have, and are not eligible to obtain, a Social Security Number (SSN). There are several ways to obtain an ITIN. Mail You […]
A “tax purpose” for an individual is the reason why they file a tax return or are listed on the tax return of someone else. It is not the same thing as a tax filing requirement, however, tax filing requirement is a tax purpose. People who have no tax filing requirement can and still should […]
Undocumented immigrants are often excluded from government benefits, but there are a few tax credits that they may be eligible for. This blog post will discuss undocumented immigrants and taxes, the different tax credits undocumented aliens may be eligible for, as well as the requirements for claiming them. What are tax credits? A tax credit […]
The Internal Revenue Service (IRS) has announced that it will reopen the Certifying Acceptance Agent (CAA) program in late 2023. The CAA program allows certain organizations to help taxpayers obtain Individual Taxpayer Identification Numbers (ITINs). ITINs are tax processing numbers issued to individuals who are not eligible for a Social Security number (SSN). The CAA […]
Being a professional tax preparer is a challenging role, but with the right tax preparation program, it can be much easier. In today’s digital age, numerous software solutions are available to simplify the process, but choosing the best one for your specific needs can be overwhelming. Let’s walk through the key considerations to help you […]
For taxpayers who had previously requested extensions, the tax filing deadline is approaching. The filing deadline is October 15th and the IRS suggests that returns are e-filed as it is the easiest, safest and most accurate way to file, but if you chose to paper file, be sure that the tax return is postmarked by […]
EPS Last day to apply 10/15/18 Last day to print in office 10/31/18 Checks go stale 10/31/18 TPG & PSCOM Last day to apply 10/20/18 Last day to print in office 10/31/18 Checks go stale 11/30/18
After the IRS created the Registered Tax Return Preparer program based on licensing of tax preparers they were sued. In court, and in appeal, they were not found to have statutory authority to regulate unenrolled preparers. Senator Rob Portman has introduced a new bill that would grant the IRS the authority that they need to […]
The IRS has released some very helpful videos with tips on how to maintain, monitor, and protect your EFIN. https://youtu.be/iXb0_ElZYdQ
With the passing of the Tax Cuts & Jobs Act, many tax laws will be changing. The tax law changes will not be represented on the Enrolled Agent Special Enrollment Exams until next year. If you can find the time and motivation to complete your Enrolled Agent exams between May 1, 2018 — February 28, […]
Disclosure authorization and electronic account resolution programs will be closing as previously scheduled on August 11th, 2013. Over 4,000 tax pros have signed petitions urging the service to reconsider, to no avail. As it looks at this point be sure to get your POAs and document request forms filed ASAP, before these time saving services […]
Just a reminder that tomorrow, 4/20/2013 is the last day to timely file returns that were previously rejected. Also, be sure not to cause undue alarm to your clients that are getting refunds; there is no late filing penalty for filing a return after 4/15 if you are claiming a refund!
There are more than 11 million taxpayers who have requested an automatic six-month extension this year and have yet to file. October 15 is the deadline, but there are exceptions. There are always exceptions. Are you serving in Iraq or Afghanistan or a combat zone? If so, you can stop reading, but the majority of […]
Amending Returns & Working With Form 1040X Join us for a Webinar on September 20 Space is limited. Reserve your Webinar seat now at: https://www1.gotomeeting.com/register/389913072 This course will cover amending individual tax returns and working with IRS form 1040X. We will review amending returns you initially prepared and also returns initially completed by other tax […]
This notice is particularly for Certified Acceptance Agents. Hopefully, you all have kept appropriate documentation on returns which had W-7 applications for an Individual Taxpayer Identification Number. The word on the street is that the IRS is taking a sample pool of ITINs per CAA and investigating the appropriateness of the work done. By that […]