as busy season gets off to slow start. by rick telberg with the irs playing catch-up and a client base still feeling the pressures of the great recession, tax practitioners in the latest 卡塔尔世界杯常规比赛时间 survey are reporting a marked … continued
wall street: mom-and-pop tax shops in peril.
john hewitt, the founder of jackson hewitt and now ceo of liberty tax, expects a huge shakeout because of the new irs requirement for paid tax-return preparers to register with the government.
market share for the two largest tax chains, h&r block and jackson hewitt, has eroded by about 9% in the past four years as do-it-yourself online tax software gained ground. turbotax, for example, grew by about 121%. but the new irs ptin rules may slow the decline by forcing out mom-and-pop paid preparers, according to wall street analysts. read more →
david bergstein, director of u.s. strategic relationships for cch, tells accountants to brace for new irs initiatives. but first, all eyes are on congress. [youtube]d_dzxxfeb9o[/youtube] when will new irs forms be ready? that’s the million-dollar question. “exciting,” says bergstein. how … continued
“john stossel is an idiot,” says cpa on tax day blog comment. john stossel takes out his tax day frustrations on his accountant, bob: tax day is looming over america, and john stossel celebrates by dedicating a major part of … continued
big business gets a pass. among corporations reporting assets of $250 million or more, the irs since 2005 has cut back by a third the hours it spends examining their books. irs has also sharply reduced the number of large … continued
irs releases key benchmarks. via irs electronically filed tax returns are on track with last year and overall refunds are running nearly 10 percent higher so far in 2010, according to statistics issued today by the internal revenue service. the … continued
intrusive and intimidating irs initiative. by william stromsem, cpa, jd cpas are complaining about an intrusive and intimidating internal revenue service (irs) initiative that began in early january when the irs started sending “over 10,000” letters to tax return preparers … continued
excerpts from the irs report on tax return preparers. get the full report: free download here (pdf, 55 pages). related: irs seeks to regulate tax pro’s today, a majority of u.s. taxpayers rely on tax return preparers to assist them … continued
but will new exam confuse taxpayers? via irs the internal revenue service kicked off the 2010 tax filing season today by issuing the results of a landmark six-month study that proposes new registration, testing and continuing education of tax return … continued
nsa says: yes, you can talk to your own clients. via the national society of accountants as tax return preparers should be aware, code section 7216 establishes a criminal penalty if a preparer knowingly or recklessly discloses or uses any … continued
financial service firms — banks, investment advisors, insurance companies, etc. — account for three-quarters of the tax returns filed by all large corporations. so why, then, is the irs allocating only 15% of its corporate revenue agents to the sector? … continued
most tax professionals are having at least as good or better season this year. but the economy threatens fees and collections. join the survey; get the updates. the latest data show for the week ended march 15, 34% of practitioners … continued
under new irs reg 7216, cpas are obligated to get written consent when they “send out” work on tax returns. but there’s precious little concrete guidance available yet, the deadline is approaching and many tax practitioners are confused and worried. … continued