WebCPA reports that Congress is having hearings on IRS oversight of tax preparers. David Rothstein, a research fellow at the New America Foundation, testified on behalf of the think tank as well as the National Community Tax Coalition and Policy Matters Ohio: The data from this past tax filing season confirms that an extremely high [...]
Tags: News · Regulation of Tax Preparers
My friend and fellow tax blogger Knox Marlow in a recent post titled Get a Real Job says that tax professionals have no “real” value to society: What value do tax professionals add to the “commercial matrix” of development, finance, production and marketing? The answer may bruise the egos of practitioners and academics from both sides of the political spectrum. The [...]
Tags: Opinion · Regulation of Tax Preparers · Tax Policy
The IRS graciously gives taxpayers the following tips for how to choose a tax preparer: If you pay someone to prepare your tax return, the IRS urges you to choose that preparer wisely. Taxpayers are legally responsible for what’s on their tax return even if it is prepared by someone else. So, it is important to choose carefully [...]
Tags: Individual Taxation · Tax Tips
Carmen Nobel of Harvard Business School’s blog Working Knowledge writes in Signing at the Top: The Key to Preventing Tax Fraud: [M]any taxpayers give in to the temptation to cheat on their taxes—in spite of the requirement for them to sign a statement declaring that the information on the form is “true, correct, and complete.” [...]
Tags: Individual Taxation · Tax Crimes
WebCPA reports that an IRS revenue agent has been sentenced to 36 months for filing fraudulent tax returns for himself and relatives that claimed, among other things, bogus deductions for alimony and mortgage payments: Albert Bront, 51, a former Santa Clarita resident, was sentenced May 25 by U.S. District Judge Otis D. Wright II. In addition to [...]
Tags: Tax Crimes
Laura Sanders of the Wall Street Journal gives a rundown of some of the important tax changes for 2010 in Taxes – April 18 (Yes, that’s right) Is Coming Up: Here are [some major] changes affecting 2010 returns. First-time homebuyer tax credit: There have been several versions of this credit, but most taxpayers who claimed it for [...]
Tags: Individual Taxation · Tax Tips
Paul Bonner of The Journal of Accountancy reports that IRS Commissioner Doug Shulman said the Service would probably provide relief from proposed testing and continuing education requirements for nonsigning tax preparers working under the supervision of a CPA or other federally authorized tax practitioners, such as an attorney or enrolled agent, in a CPA or other [...]
Tags: News · Regulation of Tax Preparers
