All Paid Return Preparers Must Have a Preparer Tax Identification Number A Preparer Tax Identification Number (PTIN) generally is required for anyone who is paid to prepare or help to prepare all, or substantially all, of a federal tax return, … Read More
Accounting
IRS Proposed Regulations on Third Party Contacts Unfairly Erode Taxpayer Notice Requirements
Proposed regulations permitting the IRS to shorten third-party notice requirements in certain circumstances erode important taxpayer protections and could result in a taxpayers bearing the consequences for IRS-caused delays. Background The IRS Restructuring and Reform Act of 1998 (RRA 98) … Read More
Ahead of filing season, TAS introduces a new design for the Taxpayer Roadmap pages
Newly Designed Taxpayer Roadmap Pages Ahead of Filing Season Ahead of filing season, TAS introduces a new design for some Taxpayer Roadmap pages Getting ready for filing season? Check out the TAS redesigned taxpayer notice pages (or stops) to … Read More
A Grave Error: Don’t Allow “Ghost Preparers” to Turn Your Taxes Into a Horror Story
Preparing your taxes doesn’t have to be scary, but this spooky season I would like to share an example of how things can go frightfully wrong. Imagine this terrifying scenario: Someone offers to prepare your tax return, promising a big … Read More
IRS Hears Concerns from TAS and Practitioners, Makes Favorable Changes to Foreign Gifts and Inheritance Filing Penalties
Spoiler Alert: The IRS has ended its practice of automatically assessing penalties at the time of filing for late-filed Forms 3520, Part IV, which deal with reporting foreign gifts and bequests. And… By the end of the year the IRS … Read More
Protecting yourself and your clients from evolving tax scams
Protecting yourself and your clients from evolving tax scams Tax professionals need to be on the lookout for a variety of new and evolving schemes aimed at stealing sensitive taxpayer information. These schemes don’t just threaten your clients, they can … Read More
TPAW: Tax Return Preparer Penalties
A tax return preparer is a person who prepares a tax return, or a substantial portion of a tax return for payment. An individual who prepares a tax return for free is not considered a tax return preparer for these … Read More
Giving Back: Recognizing the 2024 National Celebration of Pro Bono
The American Bar Association will highlight the importance of pro bono services with its annual National Celebration of Pro Bono during Pro Bono Week October 20-26. Derived from the Latin phrase pro bono publico, meaning “for the public good,” pro bono embodies … Read More
What You Need to Know to Protect Your Client’s Refund and Appeal Rights
It is your responsibility as a tax professional to ensure you protect your client’s right to claim a tax refund. Tax professionals must be vigilant in tracking deadlines and advising their clients to take timely actions. Time for Filing a … Read More
TAS Celebrates Tax Professional Awareness Week
From October 20 – 26, TAS is joining the IRS in celebrating Tax Professional Awareness Week (TPAW). TPAW is a week dedicated to ensuring that tax professionals have all the information they need to have a successful filing season. This year, we’re … Read More