Blog
New Fees and Requirements Levied on Income Tax Preparers in 2019
If you're a tax preparer who is still winding down from Tax Day 2019, you may be interested in two major developments coming down the pike for those who plan to help others prepare their 2019 federal or state income taxes. IRS Can Start Charging for Preparer Tax Identification Numbers (PTINs) In...
Tweaking Taxes for 2019 and Beyond
For many whose tax returns are fairly static from year to year, the changes brought by the Tax Cuts and Jobs Act (TCJA) threw a monkey wrench into things. Even for those who will ultimately pay less in taxes for the 2018 tax year, the uncertainty as to how the TCJA will impact their total tax bill—and whether their...
Tax Extensions Save Clients Money
For many tax preparers, April 15 seems to roll around earlier each year. But when clients seem set toowe the IRS money at tax time, a tax preparer’s failure to timely request an extension can lead thetaxpayer to incur a hefty failure-to-file penalty of 5 percent of the unpaid bill per month.Once a taxpayer is five...
Two US States Have Tax Day On April 17th?
If you work as a tax preparer for individual clients, the date "April 15" is likely etched into your mind. But are you aware that—for two states—Tax Day 2019 falls on April 17 instead? Read on to learn more about the reasons behind this delayed tax due date for certain Northeasterners and how you can file...
What Tax Changes Can You Expect in 2019?
For the first time since late 2017 many taxpayers (and their tax preparers) have a far better idea of how the Tax Cuts and Jobs Act (TCJA) changed the way federal and state taxes are computed. But on the heels of the TCJA, even more changes are coming for 2019. Inflation-Related Tweaks To...