ACA

  • The IRS Did Not Properly Implement Law Penalizing Erroneous Refunds

    WASHINGTON – By incorrectly interpreting Federal law, the Internal Revenue Service (IRS) significantly limited the number of erroneous tax refunds and improper tax credit claims on which it could assess penalties, according to a study released publicly today by the Treasury Inspector General for Tax Administration (TIGTA). The Small Business and Work Opportunity Tax Act…

  • 3 ways to speed up your tax refund, despite IRS delays

     (From CBS News MoneyWatch) While the CBS news item is aimed at consumers, professional tax preparers may want to note these tips to advise their clients.  People who file their tax returns early in order to get their refunds sooner will have to wait a few extra weeks. The IRS announced this week that it…

  • Fast Track Settlement Program Now Available Nationwide

    IR-2013-88, Nov. 6, 2013  The Internal Revenue Service today announced the nationwide rollout of a streamlined program designed to enable small businesses under audit to more quickly settle their differences with the IRS. 

  • Loyalty Matters

    Edward Gonzalez is a successful business owner, a dedicated professional, and a devoted husband and father. He is honest, outgoing, friendly, and has strong moral principles, but perhaps what sets Edward aside from many others is his loyalty.  That loyalty has been a key to his success.

  • IRS Contractor Employees Owe Millions in Tax Debts

    A report from the Treasury Inspector General for Tax Administration points out that the IRS’s own employees and contract employees are required under the Internal Revenue Manual to pay any federal tax debts and file their taxes on time, but employees of IRS contractors are not held to the same standards.  So notes Accounting Today. …

  • Protection Plus: Audit Protection For Your Tax Practice

    By James Stork VP of Education, Drake Software The IRS has increased its audits of professional tax preparation firms, attempting to stem a perceived increase in both preparer fraud and taxpayer fraud related to such issues as identity theft, false claims of dependent children, and inflated deductions on tax returns. While it is true that…

  • IRS Releases Details on PTIN Holders

    The Return Preparer Office of the IRS has released details on the professional credentials of those who currently hold Preparer Tax Identification Numbers. Just over 690,000 people hold PTINs, which are required of all paid tax preparers. By far the largest professional group among them are CPAs, with 214,267 PTINs. Enrolled Agents follow with 46,795…

  • IRS Rides 1884 ‘dead horse’ Law to Defense of Tax Preparer Rules

    WASHINGTON (Reuters) – The Obama administration defended its effort to regulate the tax return preparation business for the first time in US history, basing its case largely on a 19th century law dealing with horses lost or killed in the Civil War, according to Reuters.

  • IRS Operations During The Government Shutdown

    Due to the current lapse in appropriations, IRS operations are limited. However, the underlying tax law remains in effect, and all taxpayers should continue to meet their tax obligations as normal, according to The Internal Revenue Service. Versión en español

  • Accounting Today Chooses Best Firms to Work For in 2013

     Accounting Today magazine has released its annual list of the Best Firms to Work For in 2013.  The annual list of the Best Accounting Firms to Work For was created by Accounting Today and Best Companies Group. The survey and awards program are designed to identify, recognize and honor the best employers in the accounting…