Tax Refund Splitting Provides New Avenue for Fraud Detection
TIGTA found that more than 65,300 bank accounts had multiple direct deposits, accounting for more than 949,000 refunds for approximately $1.6 billion, some of which belong to IRS employees. What does this mean? Essentially, this means that 65,300 preparers may be shifting money from his or her client’s refund to the preparer’s own bank account. […]
Updated: IRS will shut down 1040 e-filing on November 23rd
The IRS will officially shut down all 1040 e-filing for the year on November 23rd. Legacy e-filing ended last month, but modernized e-filing (Mef) is still operational until November 23, 2012. Mef will resume on January 22nd with the start of the 2012 tax filing season. If you need to file 2011 returns you CAN […]
IRS Reporting Your Tax Debt to Credit Bureaus?
As of right now, the law will not allow for taxpayer debt to be reported to credit bureaus, but looming over us is the $400 BILLION taxpayer debt. The Government Accountability Office has been written to assess the feasibility of it. The theory is that taxpayers will be more will to pay if their credit […]
Dear President Obama…
Congratulations on your victory. It was truly a nail-biter. You campaigned well, and no matter what side of the fence voters are on, you are the man for 4 more years. Now, as tax practitioners what we need to know what is going on with the tax code! Will you guys patch AMT; will the […]
Web Services Will Be Down For Maintenance This Saturday!
Our web services will be down this coming Saturday from approximately 3pm – 5pm for maintenance Areas effected: Parnter portals, CE training, custom marketing center, etc