IRS Summertime Tax Tip 2012-02
This expansion of the “Fresh Start” initiative focuses on the financial analysis used to determine which taxpayers qualify for an OIC. Here are the OIC changes:…
Making the Most of Your Mornings
What steps should you take to start you day off on the right foot? Well, it’s different for everyone, but here are a few suggestions to help you begin your day:…
ITIN Application
ITINs are designed for tax administration purposes and are assigned to people who are not eligible for Social Security Numbers. Over the years, ITINs have been criticized for being used by illegal immigrants and undocumented workers. Last year the Treasury Inspector General for Tax Administration reported...…
Treasury Inspector General for Tax Administration Performs Audit
The Treasury Inspector General for Tax Administration performed an audit on the OIC program in an attempt to discover why there has been a 28 percent increase in the number of requests for offers in compromise. The results found ...…
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Five Tips to Market Your Tax Practice
The end of tax season signals the ideal time for tax professionals to work on a plan to attract new customers. Time limitations often put the marketing aspect of a business on the back burner when the tax industry is at its busiest, so take advantage of the time while you have it. Here are a few tips to help you gain the competitive edge.…
For the Love of…Taxes
For the Love of…TaxesOn one of many cold winter Chicago days, Kevin Cotton decided to seek sunshine and moved to Carson, California. He had grown up in Chicago but wanted to make a new life for…
The Power of a Good Strategy - Tips for Strategic Thinkers
So, how do you become a strategic thinker? The kind of thinker that will help insure your company is never at risk? To be become a successful strategic thinker, you need to be able to think analytically, anticipate the future, resolve problems, learn to adapt, and interpret what’s happening. And how do you do that?…
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Circular 230 Ethics Rules
It’s complicated, but it’s important. Now, more than ever, paid tax return preparers need to understand and educate themselves so they can avoid sanctions for giving false or misleading information to the IRS or for asserting frivolous positions that do not meet realistic possibility standards. Preparers need to recognize what is considered disreputable conduct resulting from improperly preparing returns, and learn to identify tax fraud schemes.…
Delay for some enrolled agents awaiting renewal cards
According to the IRS, last year's seven month moratorium on enrolled agent application processing is unfortunately still affecting their ability to timely process the renewal applications for SSNs…
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IRS Sends Test Results to Preparers
The Internal Revenue Service has begun providing test results to tax return preparers who have taken the new return preparer competency test. Those who pass the test and a tax compliance check will be given a new designation: Registered Tax Return Preparer.…
