IR-2013-18, Feb. 8, 2013 WASHINGTON — The Internal Revenue Service announced today that taxpayers will be able to start filing two major tax forms next week covering education credits and depreciation. Starting Sunday, Feb. 10, the IRS will start processing tax returns that contain Form 4562, Depreciation and Amortization. And on Thursday, Feb. 14, the […]
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Taxpayer Advocate, Nina Olson, calls preparer regulation ruling “disastrous”
Tax-preparer ruling called ‘disastrous’ By LAUREN FRENCH | 2/6/13 4:58 AM EST Welcome to the Wild West. The tax version of it, at least. That’s how Nina Olson, the IRS’s designated advocate for taxpayers, sees an unregulated world of tax preparers where anyone can throw up a sign and charge taxpayers to file returns — […]
Update from IRS on court ruling affecting RTRP, CE and PTIN
On Friday, Jan. 18, 2013, the United States District Court for the District of Columbia enjoined the Internal Revenue Service from enforcing the regulatory requirements for registered tax return preparers. In accordance with this order, tax return preparers covered by this program are not required to complete competency testing or secure continuing education. The ruling […]
Where’s My Refund?
Below is a link to a page on the IRS website with information for taxpayers: What to Expect for Refunds in 2013 http://www.irs.gov/Refunds/What-to-Expect-for-Refunds-in-2013 IRS also provides a PDF with 2013 refund information for tax preparers at the link below. 2013 IRS Refund Information Guidelines for the Tax Preparation Community http://www.irs.gov/pub/irs-pdf/p2043en.pdf
Tax preparation firms favor reinstating IRS rules timesdispatch.com
Most tax-preparation professionals are pulling for the Internal Revenue Service in a legal battle over its plan to regulate the industry. http://www.timesdispatch.com/business/local/companies/tax-preparation-firms-favor-reinstating-irs-rules/article_c89fd9dc-1a27-516d-8d68-5ddbfabd36cf.html?goback=%2Egde_1905842_member_208384532
IRS Appeal of Court Ruling Against Preparer Regulations
The tax industry needs to be regulated to prevent unqualified preparers from practicing. Those preparers who have been enabled to prepare returns using tax software without knowing the tax laws not only prepare inacurate returns for their clients, but they take business away from qualified preparers. The cost for a preparer to meet the CE […]
IRS Loses Lawsuit to Prevent Regulation of Preparers
January 19, 2013 By MATTHEW BARAKAT of The Associated Press FALLS CHURCH, Va. — A federal judge on Friday barred the IRS from imposing a series of new regulations, including a competency exam, on hundreds of thousands of tax preparers. U.S. District Judge James Boasberg in Washington ruled against the IRS in favor of three […]
IRS Loses Lawsuit in Fight Against Tax Preparers
U.S. District Judge James Boasberg in Washington ruled against the IRS in favor of three tax preparers who filed suit last year with the help of a libertarian legal group, the Arlington, Va.-based Institute for Justice. Since 2011, in response to what it says has been a growing problem of poorly done returns, the IRS […]
IRS Announces Simplified Option for Claiming Home Office Deduction
Jan. 15, 2013 WASHINGTON — The Internal Revenue Service today announced a simplified option that many owners of home-based businesses and some home-based workers may use to figure their deductions for the business use of their homes. In tax year 2010, the most recent year for which figures are available, nearly 3.4 million taxpayers claimed […]