New Requirements for Some Return Preparers


As tax preparation season begins, make sure your return preparer is compliant with new IRS requirements.  If you are using a CPA, attorney, enrolled agent, or any employee supervised by one of the above, your preparer has met the IRS requirements, so long as they are in good standing with their licensing agency and have renewed their Preparer Tax Identification Number (PTIN).  If you are instead using a non-licensed preparer, they have until the end of 2013 to take and pass a Registered Tax Return Preparer competency test.  See the IRS website for more information about the new requirements and the test.  One key difference between the licensed preparers (CPAs, attorneys, and EAs) and the non-licensed preparers is noticeable only after your return is filed:  licensed preparers have unlimited practice rights before the IRS, while non-licensed preparers can represent clients only in certain circumstances. 

Comments

Post a Comment

Popular posts from this blog

Texas Tax Amnesty Program

The Texas Tax Amnesty Program begins May 1, 2018, and runs through June 29, 2018.  This Program could apply to sales tax, franchise tax, or other taxes assessed by the Texas Comptroller.    It provides delinquent taxpayers with relief from penalties and interest on previously unreported taxes due for periods before January 1, 2018. The program gives taxpayers the opportunity to "wipe the slate clean" by filing past due reports, or amending reports that underreported taxes, without paying penalties and interest. Penalties and interest can be very substantial, so this is a program that should be given serious consideration by anyone who is eligible for it. The program does not apply to periods already under audit. If you believe that you may qualify for this valuable program, the Dove Law Firm can assist you through the amnesty process.
Read more

Tarrant County's Elder Financial Fraud Unit

Financial exploitation of the elderly is a serious problem, with one in twenty older adults victimized each year according to the Department of Justice.  In May of 2017, the Tarrant County Criminal District Attorney created a new special prosecution team -- the Elder Financial Fraud Unit -- to serve as a community resource addressing the special needs of elderly victims through a program of aggressive prosecution, education and deterrence. The unit consists of two experienced prosecutors, two investigators and one support staff member, all of whom are focused exclusively on financial crimes against the elderly. By the end of 2017, 79 cases were filed. The unit also partnered with Guardianship Services to create the the Financial Exploitation Prevention Center of Tarrant County, whose mission it is to connect Tarrant seniors with the vast network of resources available to them. If you, or anyone you know, has been a victim of elder financial fraud, there are resources availa
Read more

Today, June 15th, is World Elder Abuse Awareness Day

Today, June 15th, is the annual World Elder Abuse Awareness Day (WEAAD) as first declared by the United Nations General Assembly in 2012. Elder abuse is increasingly recognized as an important worldwide problem, and one that is likely to grow as many countries experience the rapid aging of their populations.  In the U.S. alone, some 10,000 people turn 65 every day. The focus of this year’s WEAAD is financial abuse of the elderly — a very common form of elder abuse which, for the most part, remains hidden and unreported. It is hoped WEAAD will raise the general awareness of this form of elder abuse and by so doing reduce its frequency.
Read more