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Tax Preparers Tax Returns

Foodman CPAs & Advisors

¿Está Su Preparador De Impuestos De 2023 Haciendo Las Preguntas Correctas?

La temporada de impuestos está aquí y en el 1/2/24, el IRS le recordó a los contribuyentes que elijan cuidadosamente a su preparador de impuestos de 2023 al preparar sus impuestos de 2023. Los contribuyentes son, en última...more

Foodman CPAs & Advisors

Is Your 2023 Tax Preparer Asking You The Right Questions?

Tax season is here and on 2/1/24, the IRS reminded Taxpayers to choose a 2023 Tax Preparer carefully when preparing their 2023 Taxes. Taxpayers are ultimately legally responsible for all the information on their income tax...more

Allen Barron, Inc.

IRS Tax Filing is to Begin January 29, 2024

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The IRS has announced tax filing is to begin January 29, 2024 for US 2023 tax returns. Most of the almost 130 million individual tax returns will be due on Monday, April 15, 2024. The IRS will accept your tax return after...more

Allen Barron, Inc.

Are There Strategies to Avoid an IRS Audit?

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Are there strategies to avoid an IRS audit? What are some of the known risks for triggering an IRS audit? What should you do if you have are concerned about the information provided a previous tax return? Is there a way to...more

McDermott Will & Emery

Weekly IRS Roundup November 13 – November 17, 2023

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Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of November 13, 2023 – November 17, 2023. ...more

Miller Canfield

You Can’t Rely on Your Tax Preparer to Avoid Failure to File Penalties

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In Lee v. United States, the Federal Court of Appeals for the Eleventh Circuit held that a taxpayer could not avoid late filing and late payment penalties because of the failure of his CPA to electronically file his returns...more

DarrowEverett LLP

The Brass Tacks: IRS Creates Process for Withdrawing ERC Claims

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The Internal Revenue Service (“IRS”) recently granted employers a means to avoid interest and penalties on inappropriately taken Employee Retention Tax Credit (“ERC”) claims. This surely will come as a relief to taxpayers who...more

Robinson+Cole Data Privacy + Security Insider

Privacy Tip #374 – FTC Warns Tax Preparation Companies About Use of Tax Information for Other Purposes

The information you provide to your tax preparer is as sensitive as it gets. The assumption is that the tax preparation company is only using your data to prepare your taxes. In an enforcement action against Beneficial Corp.,...more

Allen Barron, Inc.

IRS Warns of Shady Tax Preparers and Increased Audit Risk

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In a recently released bulletin, IR-2023-59, the IRS warns of shady tax preparers and increased audit risk as part of their “Dirty Dozen” series.  The IRS provided some common “warning signs” including tax preparers who base...more

Venable LLP

Taxpayers and Tax Preparers, Beware of Automated Notices of Deficiency

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The IRS has increased its practice to issue Notices of Deficiency without an audit. For example, if there is a mismatch between what was reported on a Form 1099 for a taxpayer and the income shown on the taxpayer's return, or...more

Oberheiden P.C.

What Tax Preparers Need to Know Before Sitting for an IRS CI Interview

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The Internal Revenue Service’s Criminal Investigation Division (IRS CI) is targeting tax preparers or the ones who prepare tax returns in 2022. IRS CI is focusing its efforts on tax preparers who underreport their clients’...more

McDermott Will & Emery

Weekly IRS Roundup November 15 – November 19, 2021

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Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of November 15, 2021 – November 19, 2021... November 15, 2021: The IRS published a news release...more

Foster Garvey PC

To All of the Tax Return Preparer Professionals and Their Staffs: Thank You for Your Service

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For the second year in a row, the due date for the filing of income tax returns and the payment of taxes was extended. For most taxpayers, the extended deadline brought glee. For the tax return preparation community, however,...more

Foodman CPAs & Advisors

Have You Hired the Right Tax Preparer to Prepare your Taxes?

Tax Season is here.  Tax Preparers have different levels of skills, education and expertise and Taxpayers ought to take a closer look at what constitutes a “Qualified” Tax Preparer.  ...more

Foodman CPAs & Advisors

19 Possible Questions That Your Tax Preparer Ought to Ask Regarding Foreign Accounts and Assets

Many Taxpayers with international entanglements seek the assistance of tax return preparers without U.S. international tax reporting experience.  Because US International tax reporting is complicated and often overwhelming...more

Freeman Law

IRS Updated Revenue Procedure for Reducing or Avoiding Understatement Penalties and Tax Return Preparer Penalties

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Recently, the IRS issued Revenue Procedure 2020-54, which updated Revenue Procedure 2019-42. Specifically, this new Revenue Procedure identifies circumstances under which the taxpayer makes an adequate disclosure on a...more

Blank Rome LLP

Obligations to Produce Records in Response to a Subpoena

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Tax return preparers have certain obligations regarding confidentiality. Failure to adhere to these rules can subject preparers to civil and criminal liability, possibly causing irreparable reputational harm. The IRS's...more

Foster Garvey PC

The IRS Is Taking Going Digital to the Next Level – Electronic Filing of Amended U.S. Individual Income Tax Returns Will Be...

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In News Release 2020-107, issued Thursday, May 28, 2020, the IRS announced that taxpayers will soon be able to electronically file Form 1040-X, Amended U.S. Individual Income Tax Return. This is welcome news for taxpayers and...more

Conn Kavanaugh

July 15 Is Going to Be a Busy Day!

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The IRS has previously postponed the due dates for income tax returns and payments and gift tax returns and payments, and has now issued Notice 2020-23, which expands deadline relief to other returns and payments. In general,...more

Chambliss, Bahner & Stophel, P.C.

Free Tax Preparation Help Is Available to Seniors

Seniors and retirees should know that they may be able to use online tax preparation software free of charge. Most low- and middle-income Americans qualify for the free help, but do not take advantage of it. And all seniors...more

Chambliss, Bahner & Stophel, P.C.

Top 10 Tax Planning Tips for 2020

Tax season is right around the corner, but good tax planning takes place all year long! See below for some of our favorite tips and tricks. These cover a variety of areas including charitable giving, estate tax exemptions,...more

Foodman CPAs & Advisors

Understanding a Personal Representative

A Personal Representative (PR) is in charge of the property (estate) of an individual who has died (known as the decedent). When a person passes away, their assets become property of their estate....more

McDermott Will & Emery

Reasonable Cause for E-Filing Errors?

Tax return filing season is fast approaching, and taxpayers big and small are preparing to file their returns. A recent US Court of Appeals for the Fifth Circuit decision, Haynes v. United States, No. 17-50816 (5th Cir. Jan....more

Robinson+Cole Data Privacy + Security Insider

Virginia Data Breach Law Amended to Include Income Tax Preparers

We have frequently reported about how devastating and widespread tax fraud is in the U.S.—in the past affecting hundreds of thousands of U.S. tax payers. Income tax preparers are at risk for cyber intrusions because they hold...more

Fox Rothschild LLP

IRS Ranks Tax Return Preparer Fraud As Number Four On The IRS “Dirty Dozen” For 2018

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Continuing its daily “countdown” of the annual “Dirty Dozen” tax schemes, the Internal Revenue Service announced that return preparer fraud is the fourth entry on that esteemed list for 2018. With more than half of the...more

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