EITC Fraud Continues to Vex IRS
It is estimated that the IRS erroneously paid out 11 to 13 BILLION dollars in EITC. The IRS thought forcing preparers to send in the 8867 Due Diligence worksheets would put “a dent” in the fraud. The number of fraudulent/erroneous EITC payments has gone down 2-3 billion compared to last year’s numbers. Have your own […]
Have a Great Idea? Tax Reform Committee Wants Your Opinion & Ideas!
It’s here. You can stop waiting now. The age where the online socio-political arena is just as important (and way more volatile) as real life has finally come. Of course, there are benefits and drawbacks. Everyone knows the internet makes it easier for a person to say what he or she really thinks which leads […]
Information on RTRP Refunds Finally Released!
There has finally been some information released regarding refunds for RTRP Exam fees. Requests for refunds can only be made by phone to Prometric directly at the 855.477.3926. You must speak with to a customer service representative, and they can complete & initiate a refund request. The refund review process can take up to 60 […]
Lauryn Hill Convicted of Tax Evasion & Compares It to Slavery…
Singer/Songwriter Lauryn Hill has been sentenced to three months in prison and three months of home confinement for failing to file tax returns for five years and not reporting more than $2.3 million in income. In addition to being a singer and actress, Hill owned and operated four S corporations, and her primary source of […]
Late Tax Filers May Qualify for Abatement of Penalties
The IRS has a program called the First Time Abate which allows for a taxpayer to have the late filing penalties waived. The IRS abatement of penalties only applies if the taxpayer has been compliant for the past three years. This means paying on time, filing on time, etc. This also includes the penalty for […]