News & Analysis as of

Tax Preparers Tax Liability

Allen Barron, Inc.

IRS Warns of Shady Tax Preparers and Increased Audit Risk

Allen Barron, Inc. on

In a recently released bulletin, IR-2023-59, the IRS warns of shady tax preparers and increased audit risk as part of their “Dirty Dozen” series.  The IRS provided some common “warning signs” including tax preparers who base...more

Venable LLP

Taxpayers and Tax Preparers, Beware of Automated Notices of Deficiency

Venable LLP on

The IRS has increased its practice to issue Notices of Deficiency without an audit. For example, if there is a mismatch between what was reported on a Form 1099 for a taxpayer and the income shown on the taxpayer's return, or...more

Oberheiden P.C.

What Tax Preparers Need to Know Before Sitting for an IRS CI Interview

Oberheiden P.C. on

The Internal Revenue Service’s Criminal Investigation Division (IRS CI) is targeting tax preparers or the ones who prepare tax returns in 2022. IRS CI is focusing its efforts on tax preparers who underreport their clients’...more

Foster Garvey PC

To All of the Tax Return Preparer Professionals and Their Staffs: Thank You for Your Service

Foster Garvey PC on

For the second year in a row, the due date for the filing of income tax returns and the payment of taxes was extended. For most taxpayers, the extended deadline brought glee. For the tax return preparation community, however,...more

Freeman Law

IRS Updated Revenue Procedure for Reducing or Avoiding Understatement Penalties and Tax Return Preparer Penalties

Freeman Law on

Recently, the IRS issued Revenue Procedure 2020-54, which updated Revenue Procedure 2019-42. Specifically, this new Revenue Procedure identifies circumstances under which the taxpayer makes an adequate disclosure on a...more

Chambliss, Bahner & Stophel, P.C.

Top 10 Tax Planning Tips for 2020

Tax season is right around the corner, but good tax planning takes place all year long! See below for some of our favorite tips and tricks. These cover a variety of areas including charitable giving, estate tax exemptions,...more

Foodman CPAs & Advisors

Understanding a Personal Representative

A Personal Representative (PR) is in charge of the property (estate) of an individual who has died (known as the decedent). When a person passes away, their assets become property of their estate....more

Foodman CPAs & Advisors

Tax Preparation is NOT a Commodity

As we approach this year’s tax filing deadline of April 18th, do you think that you have your Tax Return under control? Before you answer yes, take the time to examine and evaluate who is preparing your taxes. Do they have...more

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