An important tenet of the tax preparation business is expecting anything. Taxpayers will for example insist on a tax position that appears logical but is probably not legal. Caution is always advisabl
Many tax preparers are questioning the wisdom of involvement in returns with the Earned Income Tax Credit. But they should not fear EITC claims as long as they follow the IRS procedure for thoroughly
Selecting someone for a tax preparer job is a very personal choice for an individual. The confidential nature of tax information causes people to exercise caution when choosing a trusted tax professio
Everyone in the tax preparation business is aware that only taxpayers are responsible for their tax assessments plus any penalty and interest for late payment. Taxpayer signatures on tax returns const
Even before passing the registered tax return preparer exam anyone preparing tax forms must comply with IRS Circular 230 provisions. This publication contains several standards of practice for tax pro
Taxpayers may obtain representation before the IRS by a registered tax return preparer concerning returns the RTRP prepared. The Declaration of Taxpayer Rights states that individuals have this right
Although the focus of tax preparer education is the myriad of IRS rules for federal returns, some knowledge of state tax returns is important. Preparation of state income tax returns is a routine serv
Most tax practitioners are careful to obtain accurate amounts from clients that correctly identify income and deductible expenses. When the figures on a tax return are inaccurate, the taxpayer is pena
For a divorced individual – particularly a divorced parent – advice from a paid tax preparer about some special tax rules is critical. Divorcing couples reach agreements about debt allocation, ali
The IRS wants to inform taxpayers about a phenomenon that should interest anyone in the tax preparation industry. The subject is ghost preparers, which is a term used for people who help with preparat
