By Vivian Hairston Blade At a recent stockholders meeting, the vice president of sales for a global manufacturer reported, “The economy has been tough on our industry. Sales volumes significantly declined and have not nearly returned to pre-recession levels. The company has…
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IRS Announces New Member for the Electronic Tax Administration Advisory Committee
The following is a press release from the IRS: WASHINGTON — The Internal Revenue Service today announced the selection of seven new members and a chairman for the Electronic Tax Administration Advisory Committee (ETAAC). ETAAC provides an organized forum for discussion of…
IRS Waives Tax Preparer Continuing Education Requirement in 2011
The following is from www.nstp.org (National Society of Tax Professionals) IRS Commissioner Douglas Schulman and IRS Office of Professional Responsibility (OPR) Director Karen Hawkins have publicly announced that the IRS will delay implementing the new continuing education requirement for tax preparers until…
A Special Alert from NATP Issued Today
NATP (National Association for Tax Professionals) learned today that the IRS is planning compliance visits with specific tax return preparers for the purpose of enforcing proper technique in due diligence and accurate return preparation. Beginning next month, the IRS will send out…
New Online Registration System for Paid Tax Return Preparers is Now Available
The following is a news release from the IRS Media Relations Office IR-2010-99, Sept. 28, 2010 WASHINGTON — As part of an initiative to ensure that tax return preparers are competent and qualified, the Internal Revenue Service today issued final regulations requiring…
Classes at The Income Tax School featured for new tax preparer rules
The following is an article by John Reid Blackwell from the Richmond Times-Dispatch, Sept. 21, 2010. View the original here. Starting next year, professional tax-return preparers will have to meet new requirements to prepare federal income-tax returns. The requirements, announced by the…
Virginia Community College System to Provide Tax Preparer Training through The Income Tax School of Richmond, VA
Required IRS Tests and Annual Continuing Education Will Increase Demand for Tax Courses & Seminars On January 4, 2010 the IRS announced its decision to regulate tax preparers and require competency tests, plus annual Continuing Professional Education (CPE). According to the IRS, higher…
IRS Nationwide Tax Forums Report
I just returned from the last of the six IRS Nationwide Tax Forums in San Diego, which had about 2,000 attendees. The previous Forum in Las Vegas had over 6,000 attendees. The first two Forums in Atlanta and Chicago in late June…
Lessons Learned – Lesson 6: Developed & Grew The Income Tax School
Here is Lesson Six in my video series in which I talk about diversifying your business in order to maintain success. Enjoy, and please share and comment – Lessons Learned: Every business has a finite life cycle and must be reinvented periodically…
IRS Announces New Return Preparer Application System and User Fee
IRS Also Releases Proposed Regulations to Amend Circular 230 Rules IR-2010-91, Aug. 19, 2010 WASHINGTON — The Internal Revenue Service today announced that a new online application system for compensated tax return preparers is expected to go live in mid-September. The IRS…
Lessons Learned – Lesson 5: Community Service
Here is the latest video in my Lessons Learned series. This one relates to the lessons I have learned when it comes to a business’ role in community service. Here are the key lessons: Contributing to the community in which you operate…
RALs Not Going Away
I am at the NYC IRS Tax Forum and have talked with my contacts at several RAL banks. The SBBT successor has funding and a bank partner and will be providing RALs, as will a few other RAL banks. The same thing…