Program
Conflicts of Interest: Staying Circular 230 Compliant (Part 2)
What IS the Ethical Thing to Do? It may not always be possible for a tax professional to retain impartiality. Using the divorcing couple as an example, it is possible for the tax professional to competently and impartially represent both spouses assuming they have an arm’s length relationship. Going back to the...
Conflicts of Interest: Staying Circular 230 Compliant (Part 1)
The term “conflict of interest” is a go-to phrase in the legal realm frequently referred to in professional misconduct suits where an engaged company or individual (usually a lawyer or law firm) winds up simultaneously representing two conflicting parties. The most common examples of a cut-and-dry conflict...
Self-Employed Taxpayers and the Affordable Care Act: Specific Impacts on the Self-Employed (Part 2)
AGI & Advanced Premium Tax Credit A headache currently faced by many self-employed taxpayers is the simple question of eligibility, particularly if desiring relief with monthly advanced premium tax credit (APTC). If one wants to claim this subsidy now opposed to waiting until they filed their return, the...
Self-Employed Taxpayers and the Affordable Care Act: Double the Benefits (Part 1)
ACA for Self-Employed Taxpayers The Affordable Care Act (ACA) has brought on a host of changes to the tax code that came into effect in 2015. Tax professionals now need to inquire about health coverage for clients and their households. Given the instability self-employed taxpayers can be prone to, which makes tax...
Tax Scams: Return Preparer Fraud
Return Preparer Fraud Next up on the list of IRS list of tax scams to watch out for this filing season is one that may shock and anger some of our readers. Coming in at number four on the list is return preparer fraud. The majority of tax professionals are honest, hardworking people but unfortunately...