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National Society of Tax Professionals
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National Society of Tax Professionals's posts

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Following are guidelines that the IRS is distributing for choosing a qualified tax professional. How many of these practices are you following in your tax business? If you are a licensed professional eligible to be listed in the Directory of Federal Tax…

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How much does your firm charge to prepare a 1040? How about other forms? What about the accounting and business advisory services you offer? Business Mix and Revenue Surveyed firms reported that on average 57.3% of gross income comes from tax-return…

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Another tier in the IRS EITC outreach and educational efforts is letters directed to specific preparers. They look at the number of returns with a high likelihood of EITC errors completed by the same preparer. And then letters are sent to preparers who…

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IR-2017-10, Jan. 25, 2017 The Internal Revenue Service, state tax agencies and the tax industry renewed their warning about an email scam that uses a corporate officer’s name to request employee Forms W-2 from company payroll or human resources…

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The IRS has provided guidance for taxpayers who took out Federal student loans to finance attendance at schools owned by American Career Institutes, Inc. (ACI), and whose loans were discharged under the Department of Education’s Defense to Repayment or…

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With the start of filing season, the IRS began sending PTIN expiration notices to approximately 160,000 former PTIN holders. The IRS will finish sending them all by the end of the week. Following is a copy of the email notice, which explains to recipients…

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As part of the IRS commitment to improve and expand taxpayer services, a new online tool allows taxpayer to view their federal tax account balance online. This new tool is available to individual taxpayers and is rolling out in phases. The first phase,…

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These amounts are adjusted for inflation each year. For 2017, the amounts that tax preparers could face are: Tax Preparer Action Penalty per Return or Refund Claim Maximum Penalty Fails to furnish a client with a copy of his/her return. $50 $25,500* Fails…

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As you go into tax season be aware of the new security features of the tax software which logs out the user even when they are busy working at their computer.  Are you having this issue? Tax professionals typically login to their tax software at the…

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Join us in making the 11th annual Awareness Day as successful as last year’s. Last year, we had our first experience using Thunderclap. We had 255 participants with a combined social reach of over 372,000. And, supporters sponsored 241 live events and…
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