All posts by The Income Tax School



Should you get out of the “Fast Refund” business?

 If you are an independent tax business owner who is capable of preparing complex tax returns, the answer may be “Yes”. The latest proposal is for IRS to develop its own free tax preparation software to “cut-out the middle man” (tax preparers).  I was serving on the IRS Electronic Tax Administration Advisory Council when the […]

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The tax preparation business has changed significantly in recent years, and even more dramatic changes are coming in the future.  To survive and grow, independent tax businesses must also change.  These changes will include new marketing strategies and tactics, adoption of new technologies, new methods of recruiting and training tax preparers, new ways to operate a tax […]

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Small Business Owners and Tax Preparation

Here is some interesting research about how small business owners feel about tax preparation. They says that it is both harder and more time consuming than last year. Adding or expanding services to small business clients can be an excellent way to grow year-round revenues for tax preparation firms. Click here to read the research

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FREE Broadcast from IRS Live – Requirements for Federal Tax Return Preparers

Presented by the Return Preparer Office Date: March 30, 2011 (archived* for later viewing) Time:  2 p.m. Eastern This FREE broadcast is for: All Paid Tax Return Preparers Since Jan. 1, 2011, a new registration requirement has been in place for federal tax return preparers.  View this broadcast to hear about: Early program accomplishments Preparer […]

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IRS Kicks Off 2011 Tax Season with Deadline Extended to April 18; Taxpayers Impacted by Recent Tax Breaks Can File Starting in Mid to Late February

The following is a news release from the IRS. WASHINGTON — The Internal Revenue Service today opened the 2011 tax filing season by announcing that taxpayers have until April 18 to file their tax returns. The IRS reminded taxpayers impacted by recent tax law changes that using e-file is the best way to ensure accurate […]

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Payroll Tax Cut to Boost Take-Home Pay for Most Workers

From the IRS Newsroom: WASHINGTON ― On December 17th, 2010, The Internal Revenue Service released instructions to help employers implement the 2011 cut in payroll taxes, along with new income-tax withholding tables that employers will use during 2011. Millions of workers will see their take-home pay rise during 2011 because the Tax Relief, Unemployment Insurance […]

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IRS Reminds Paid Tax Preparers to Register Now for PTINs

The following is a press release from IRS.gov: WASHINGTON — As year end approaches, the Internal Revenue Service today strongly encouraged paid tax return preparers to register now for their new or renewed Preparer Tax Identification Numbers (PTINs) to avoid any last-minute rush. Starting Jan. 1, 2011, use of the PTIN will be mandatory on […]

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Jackson Hewitt gets 80 percent RAL funding, shares soar

(Reuters) – Jackson Hewitt Tax Service Inc (JTX.N) said it could fund 80 percent of its refund anticipation loan (RAL) program and would secure a longer-term covenant waiver with its lenders, sending the company’s shares up 35 percent. Jackson Hewitt said it amended an agreement with its RAL funder Republic Bank & Trust Co, a […]

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