If you employ seasonal tax preparers how can you ensure that they are able to pass the IRS competency exam? Many tax preparers rely too much on tax software and don’t have enough tax knowledge to pass the IRS exam. We will…
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IRS presents IRS Live – New Requirements for Tax Return Preparers
Learn the Who, What, When and How IR-2010-70, June 1, 2010 WASHINGTON — The Internal Revenue Service will debut its latest educational program for tax professionals, the webinar IRS Live, on June 9, 2 p.m. ET. The topic is “New Requirements for…
Pay Scale for Tax Preparers – The National Average vs. What You’re Paying
As with many businesses, employee pay is a hot topic of discussion. Is it best to pay tax preparers a straight hourly wage, a wage plus a bonus, a wage as a draw against commission, or some other method? We believe that…
A Policies & Procedures Manual for your Tax Office
As tax businesses grow, one of the things they realize they need is a Policies & Procedures Manual. At Peoples Tax , we have a comprehensive P&P Manual that has evolved over the 22+ years since I founded the business. We find…
Will IRS Modernized E-File (CADE2) result in the RAL becoming Obsolete?
IRS Modernized E-File (CADE) promised to speed up direct deposit refunds to a few days instead of about 2 weeks . Read Details at: http://www.irs.gov/efile/article/0,,id=204763,00.html The new CADE2 IRS project is explained at the following link.:http://www.datacenterknowledge.com/archives/2010/03/29/irs-data-centers-gird-for-tax-season/ We have been phasing out of RALs…
How can you ensure security of your clients’ tax return information?
As tax preparers, we are responsible for maintaining privacy of all tax return information in accordance with IRS privacy code, Section 7216. Most tax preparation software encrypts the clients’ date when e-filing. However, if you save your clients’ tax returns as PDF…
Chase discontinues Tax Related Products business
With Chase following suite with Santa Barbara Bank and pulling out of the RAL business who will be left to meet the needs of independent tax businesses to provide RALs for their clients to keep from losing clients to the national tax…
Are you planning to lease a tax office?
Below is a link to an article on entrepreneur.com with many tips on negotiating a lease, and it specifically refers to a lease negotiation for a tax office. During my career in the tax industry, I’ve negotiated, directly or indirectly, more than…
Midas Marketing Book Review
Midas Marketing by Rob Slee, Founder of Midas Nation. In his previous book, Midas Managers, Slee studied the characteristics and business practices of highly successful entrepreneurs. In Midas Marketing, he describes a new mindset to ensure business success; a set of business…
What are best sources for affordable computers for tax office work stations?
We have been buying Dell PCs from a wholesaler in Texas. For a tax preparation workstation CPU we don’t need MS Office, just Windows XP Pro with 2 Gig of RAM and the standard configuration. We pay about $250 per PC.
Helpful IRS Resources
Our key tax professionals registered for IRS e-Services as soon as they became available well over a year ago. IRS has been slow to roll out the promised services, but what is available has been helpful. We are able to manage our…