From the IRS Newsroom: WASHINGTON ― On Dec. 17, 2010, The Internal Revenue Service released instructions to help employers implement the 2011 cut in payroll taxes, along with new income-tax withholding tables that employers will use during 2011. Millions of workers will see their take-home pay rise during 2011 because the Tax Relief, Unemployment Insurance […]
Displaying: December 2010
IRS Reminds Paid Tax Preparers to Register Now for PTINs
The following is a press release from IRS.gov: WASHINGTON — As year end approaches, the Internal Revenue Service today strongly encouraged paid tax return preparers to register now for their new or renewed Preparer Tax Identification Numbers (PTINs) to avoid any last-minute rush. Starting Jan. 1, 2011, use of the PTIN will be mandatory on […]
Jackson Hewitt gets 80% RAL funding, shares soar
(Reuters) – Jackson Hewitt Tax Service Inc (JTX.N) said it could fund 80% of its refund anticipation loan (RAL) program and would secure a longer-term covenant waiver with its lenders, sending the company’s shares up 35%. Jackson Hewitt said it amended an agreement with its RAL funder Republic Bank & Trust Co, a unit of […]
IRS Continues Efforts to Ensure Accurate Return Preparation
The following is a press release from the IRS: WASHINGTON — The Internal Revenue Service has started sending out more than 10,000 letters to tax return preparers nationwide to remind them of their obligation to prepare accurate tax returns on behalf of their clients. Also, during the 2011 filing season, IRS representatives will visit approximately […]