Tax Preparers

Tax

GAO: 89 Percent of Paid Preparers Made Mistakes on Returns

During undercover site visits to 19 randomly selected commercial tax-preparation businesses, only two preparers calculated the correct refund amount on a taxpayer’s return, according to a new study released by the US Government Accountability Office (GAO) on Tuesday.
Tax

Koskinen Calls on Congress to Give IRS Oversight of Tax Return Preparers

During a Senate Finance Committee hearing on Tuesday morning, the head of the IRS urged lawmakers to pass legislation that would authorize the agency to regulate the nation’s estimated 600,000 to 700,000 paid tax return preparers.
Tax

Senate Schedules Hearing on ‘Unethical’ Tax Preparers

Two sets of panelists will discuss what to do with tax return preparers who lack proper certification during a Senate Finance Committee hearing that begins at 10 a.m. ET on April 8.
Practice Management

Ignorance is Bliss? Not When It Comes to Tax Prep

We should be afraid of the lack of awareness and familiarity and sheer laziness among unqualified tax preparers.
Tax

IRS Increases Pressure to Fix Faulty EITC Claims

The IRS intends to crack down on inaccurate claims for earned income tax credits (EITCs) claimed on 2013 returns. And this time it means business.
Tax

Court Denies IRS Appeal to Lift Injunction on Tax Preparer Licensing

On March 27, a federal appeals court refused to lift an injunction issued January 18 by a lower court against the IRS' effort to license tax preparers. The ruling means the IRS' requirements for mandatory testing and continuing education of all tax preparers remain suspended.
Tax

EcoTaxFile.com Combines Tax Return Preparation with Energy Audit

Helping save the planet while filing your taxes sounds like a bit of a stretch, but EcoTaxFile.com says it has a good way to start. The company combines tax preparation services with an energy audit to identify a taxpayer's carbon footprint and then suggests ways to cut costs and greenhouse gases.
Tax

Colleges Gear Up for Volunteer Income Tax Assistance Season

College students, eager to get a taste of the accounting profession, are once again turning out to assist low-income taxpayers file their tax returns through the IRS Volunteer Income Tax Assistance (VITA) program.
Tax

IRS Warns of Delays with Schedule 8812 and Form 8867

The IRS is warning tax preparers of possible delays in processing tax returns or issuing refunds for two different forms, Schedule 8812 and Form 8867, because they either have been prepared incorrectly or are incomplete.
Tax

Court Rules IRS Can't License Tax Return Preparers

A federal court struck down the IRS's licensing effort that would have required thousands of independent tax preparers to pass a competency exam and abide by a litany of new rules.
Tax

Don't Be Shocked by E-Filing Glitches

The IRS is concerned that e-filing by tax return preparers could be short-circuited by hackers. As a result, it has updated the FAQs on its website outlining the steps to take if your EFIN is compromised.
Community News

Jackson Hewitt Names Franchise of the Year

The Jackson Hewitt Franchise of the Year Award is given to the franchise that exhibits the highest level of performance in terms of growth, territory and employee development, customer service, and community involvement.
Tax

IRS Gives More Time to Taxpayers and Preparers Affected by Sandy

The IRS announced it is granting taxpayers and tax preparers affected by Hurricane Sandy until November 7, 2012, to file returns and accompanying payments normally due October 31.
Tax

Attention, Shoppers: Tax Returns on Sale!

Are consumers inclined to drop off their tax returns at a department store kiosk after shopping for linens, sporting goods, or electronic gadgets? Both Liberty Tax Services and Jackson Hewitt are betting they are.
Practice

Will Outsourcing Overseas Cut You Some Slack?

Do you think you're the only one in your office who can complete tax returns "the right way?" If so, outsourcing some of your tax work to India or some other foreign location isn't for you.
Tax

Will the Courts Uphold IRS Efforts to License Tax Preparers?

The IRS is confident that its initiatives to increase regulation of tax preparers will be found legal, despite challenges from opponents. Last week, IRS Commissioner Doug Shulman, said the new requirements were being implemented carefully and would "help smoke out unscrupulous preparers."
Tax

Lawsuit Charges IRS with "Power Grab" in New Tax Preparer Regulations

The Institute for Justice filed suit against the IRS on behalf of three independent, paid tax return preparers, challenging the IRS' authority to license and regulate paid tax preparers. The IRS instituted new requirements for paid tax preparers last year. The new regulations will be phased in over a three-year period.
Tax

IRS Discloses Favorite Tax Scams of 2012

The Internal Revenue Service has issued its annual Dirty Dozen ranking of popular tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud.
Community News

AccountingWEB Readers Find Time Management a Challenge

Few readers think time management is their strong suit, with the vast majority of respondents to a recent survey – 87.3 percent – saying they're either "OK, not great" at it or "could use some improvement." It's no wonder. During tax season, most accountants feel the tensions of too much work and too little time.
Tax

'Auld Lang Syne': Don't Forget Your PTIN

Amidst the hubbub of the upcoming holidays, don't forget to renew your Preparer Tax Identification Number (PTIN) before January 1, 2012.

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