The Tax Professionals Blog — tax
Overnight Analysis of the GOP Tax Reform Bill
Posted by Lee Reams Sr. on
The GOP has released its tax reform structure, without a lot of detail (it is being left to Congress to determine), and as we all know the devil is in the details. But remember this is only a proposal and a lot can happen before it becomes law, assuming it even gets to that point. Here are some highlights of the proposal:
Do You Want To Be Heard About Tax Simplification? Now Is Your Chance!
Posted by Lee Reams II on
Orin Hatch, R-Utah and Ron Wyden, D-Oregon, both leaders of the Senate Finance Committee are soliciting ideas from stakeholders on how to best overhaul the tax code to make it simpler, fairer, and more efficient.
The 2015 CTEC Tax Update CPE Course is now live!
Posted by Wendy Claypool on
If we have learned anything from this tax season, it is that getting a grasp on the tough issues before the season starts is crucial. We have already integrated the latest extenders and law changes into the 2015 Edition of our popular California Registered Tax Preparers (CRTP) CPE course.
IRS is Sending EITC Due Diligence Warnings
Posted by Lee Reams Sr. on
During October the IRS will send warning letters to preparers who appear not to be complying with due-diligence requirements for the Earned Income Tax Credit.
Everything You Need to Know About the New IRS Voluntary Preparer Program!
Posted by Lee Reams Sr. on
One BIG Reason Why You Should Participate - Failure to participate in the program will impede an unenrolled preparer’s ability to represent the returns he or she has prepared before the IRS. Beginning in 2016, an unenrolled preparer must have a “Record of Completion” for the year in which the return was prepared AND the year of the audit to represent a return he or she has prepared. So if an unenrolled preparer does not participate every year, he or she will no longer be able to represent returns he or she has prepared before the IRS. This could have a profound impact on a tax practice.