The Tax Professionals Blog

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.

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Obama Care Adds New Levels Of Complexity To The Tax Return

Posted by Lee Reams Sr. on

The insurance mandate, along with its low-income subsidies available from the insurance marketplaces and penalties for not being insured, is going to involve a massive amount of information reporting that must be fed into the tax return by the preparer. So get yourself a white smock, because you are now part of the U.S. health care system!

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California Tax Preparer Sentenced to 18 Months

Posted by Lee Reams Sr. on

A former California tax preparer was sentenced Monday to 18 months in prison after pleading guilty to charges that he filed dozens of false tax returns with the Internal Revenue Service.

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Update - Get Those Circular 230 Disclaimers Off Your E-mails!

Posted by Lee Reams Sr. on

Seems most practitioners are ignoring the fact that the recent Circular 230 amendments have eliminated the need for the Circular 230 disclosures at the bottom of their e-mails.

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The IRS voluntary return preparer certification program is a win- win for consumers and tax professionals alike.

Posted by Lee Reams II on

Much has been written about and debated regarding the new IRS Voluntary Annual Filing Season Program (AFSP) and how it affects the tax preparation industry. When the IRS launched the RTRP program some years ago, the primary goal was to ensure that all tax preparers had a minimum amount of annual continuing tax education.

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