When Should a Tax Practitioner Review a Client’s Records?
During tax season, it is common for tax practitioners to ask clients whether they have the required documentation necessary to claim a deduction or credit. The general rule is that a tax practitioner may “rely in good faith without verification upon information furnishe... Mike Tucker, CPA, JD
Building Arks
“Predicting rain doesn't count; building arks does.” – Warren Buffet In our profession, Buffet’s rain refers to the unwavering challenges of multiple tax seasons and their deadlines – February 28, March 15, April 15, May 15, June 15, September 15, S... John Sheeley, EA
Buzzworthy Insights Worth Sharing
After reflecting on my practice this last tax season, here are two buzzworthy insights worth sharing. First, our most excellent federal designation is increasingly coming under attack at the state level, in many different states. We need to aggressively prot... John R. Dundon II, EA
The Five-Year Resolution
Since becoming an NTPI Fellow® in 2008, I have assisted many clients with IRS collection issues. My favorite by a long shot was a 60-year- old divorced blue-collar Vietnam Veteran named Larry. During my first meeting with Larry on June 17, 2009, he brought in collect... Geri Bowman, EA, CPA, USTCP
Ethical Behavior and Tax Prep
Last August, Paul M. was convicted on five charges of tax fraud, and one charge of hiding foreign bank accounts. While these are criminal offenses, let’s look at the ethical behavior of his tax preparer. Cindy L., an employee of KWC, prepared Paul M.’s 2014 and 2015 ... Lonnie Gary, EA, USTCP
Typical Payroll Tax Issues Amid Changes in the TCJA
After processing 2018 year-end payroll, employers may see the need to reevaluate processes, procedures, and tax configurations in the payroll system to ensure compliance amid the substantial changes created by the 2017 tax reform known as the Tax Cuts and Jobs Act... Joan Vines
Rethinking Our Use of the DMSH
When the IRS added the de minimis safe harbor (DMSH) election to the repair and capitalization regulations, practitioners rejoiced. Use of this election allows our clients to immediately expense small asset purchases provided that the asset cost is $2,500 or... Thomas A. Gorczynski, EA, CTC, USTCP
Become Americas Advanced Tax Expert
BECOME AMERICA’S ADVANCED TAX EXPERT BY Mary Sunderland, EA, USTCP & Bill Nemeth, EA Do you want to stand out as a tax practitioner? Are you confident that you offer the latest and best tax advice to your clients? Do you want to grow your business by taking on more complicated tax returns and representation clients? Do you want to know the tax experts in these areas? ... Mary Sunderland, EA, USTCP