Accounting Today

JULY 10, 2025

For the "Standard" option, Brown had his preparers falsely claim sick and family leave credits and other false items. Brown and other ghost preparers who worked with him falsified 63 federal income tax returns for clients, causing the Treasury to issue $1,003,631 in false tax refunds. All rights reserved.

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Accounting Today

JUNE 25, 2025

With the IRS workforce reduced by 26% and significant tax law changes on the horizon, there are risks to next years filing season," Collins said. "It It is critical that the IRS begin to take steps now to prepare." More than 95% of processed returns were e-filed and some 62% resulted in refunds. All rights reserved.

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AdviceForTaxpreparers

SEPTEMBER 8, 2020

Advice for Tax Preparers Making tax preparers lives easier one blog at a time HOME. Earn $20 per Book Promoting My Tax Preparer Book from Home in Your Spare Time. My name is Bill Meador and I am writing a book to help tax staff succeed in a public accounting firm tax department.

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CPA Practice

APRIL 11, 2024

Unscrupulous preparers who include errors or false information on a tax return could leave a taxpayer open to liability for unpaid taxes, penalties and interest. Taxpayers must look out for unscrupulous preparers, who often will promise refunds that are too good to be true,” said Deputy Assistant Attorney General David A.

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Going Concern

APRIL 5, 2024

A federal grand jury in Newark, New Jersey, returned an indictment Wednesday charging tax preparer Leon Haynes of Teaneck, New Jersey with fraudulently seeking more than $150 million from the IRS by filing more than 1,600 false tax returns for himself and his clients that claimed COVID-19-related employment tax credits.

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CPA Practice

JANUARY 26, 2024

23, 2024, to two years in prison for a scheme to file false tax returns, and to two years in prison for an unrelated online romance scam. According to court documents and statements made in court related to the tax scheme, Iona Coates owned and operated Bits & Bytes Accounting Services Inc., In December 2020, U.S.

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ThomsonReuters

DECEMBER 6, 2023

James Creech, a senior manager with Baker Tilly’s tax advocacy and controversy team, explained that the origin of the current issues with the ERC can be traced back to before the health emergency and the absence of tax preparer oversight. “Tax preparation is kind of the Wild West,” Creech began.

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MyIRSRelief

OCTOBER 3, 2022

There is a substantial amount of time you have to file your taxes, but the process can seem hefty. With the help of Los Angeles tax services firms, you can receive information on your tax return, the amount you owe, and various resources for tax preparation service.

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Nancy McClelland, LLC

MARCH 29, 2022

To validate and successfully submit an electronically filed tax return to the IRS , taxpayers need their adjusted gross income, or AGI, from their most recent tax return. The IRS has a couple of “special tips” to ensure the tax return is accepted by the IRS for processing.

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Going Concern

SEPTEMBER 25, 2023

The long-running TPB investigation found that Mr Carter lodged false BAS and amendments for unwitting clients and lied about their tax returns and debts that did not exist. Between 2010 and 2020, Fulton charged Nix approximately $336,645 in professional fees for his financial services.

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CPA Practice

APRIL 5, 2024

TNS) A Kennewick tax preparer cost the United States $42 million in lost tax revenue between 2017 and 2020 after filing tax returns that were riddled with errors, fabrications and fraudulent entries, alleges the Department of Justice. By Annette Cary, Tri-City Herald, Kennewick, Wash.

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CPA Practice

FEBRUARY 10, 2023

Anyone who electronically files an amended individual income tax return can for the first time select to have any resulting refund deposited into their bank account, the IRS said on Feb. Individual Income Tax Return , with the IRS had to wait for a mailed paper refund check, adding an extra step onto the amended return process.

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CPA Practice

APRIL 9, 2024

But people should be careful with who they’re following on social media for tax advice. Unlike hacks to fix a leaky kitchen sink or creative makeup tips, people shouldn’t rely on made-up ways on social media to patch up their tax return and boost their refund,” he added. There are two other variations of the W-2 scheme.

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PYMNTS

APRIL 5, 2020

Online tax preparation service TurboTax has announced that it is rolling out a free, stimulus registration solution to assist people who are not required to file a tax return. who are not required to file taxes, and some 80 percent are eligible for a stimulus check. There are roughly 10 million people in the U.S.

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xendoo

SEPTEMBER 28, 2021

Our goal is to make sure that you have the tools you need to appropriately file your tax return this year. Due to the unprecedented challenges of 2020, the IRS extended the traditional income tax filing deadline to May 17, 2021. The current deadline for business tax preparation and submission is currently April 15, 2022.

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CPA Practice

AUGUST 11, 2023

The Department of Justice recently arrested a New Jersey tax preparer for allegedly seeking more than $124 million from the IRS. The multi-millions came from filings of over 1,000 false tax forms claiming the pandemic-related employee retention credit, also referred to as the ERTC or ERC. Treasury Department.

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PYMNTS

JANUARY 7, 2021

But instead of the instantaneous payments, some residents are receiving messages that they can only get their checks after filing their 2020 tax returns, per CNBC. CNBC reported thousands of such emails from Americans in dire need of the checks to pay bills. 15, and because of the speed, some mistakes may have been made.

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LyfeAccounting

JUNE 2, 2021

Want to Know How to File an Amended Tax Return? As an accounting firm, we’ve filed our fair share of amended tax returns. In today’s post, we’ll be going over when to amend your taxes and the 5 steps to actually amend your taxes. Steps to Take When Filing Amended Tax Return.

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Withum

DECEMBER 22, 2023

Taxpayers also must disclose to the IRS identifying information and other details about any advisors or tax preparers who advised or assisted them with their ERC claims. In addition to the VDP, the IRS announced that it started sending up to 20,000 letters with proposed tax adjustments to recapture erroneously claimed ERCs.

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SkagitCountyTaxServices

FEBRUARY 4, 2021

As a Mount Vernon business owner, you may have a couple different tax returns to wade through each year (and maybe more, depending on the number of active entities you’re managing). A Checklist For Skagit County Business Owners’ For 2020 Personal Income Taxes “Don’t wait. Want to get a jump on things?

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CPA Practice

OCTOBER 10, 2023

However, as tax regulations become more intricate and audit scrutiny intensifies, the demand for accurate tax preparation continues to grow, adding pressure to tax practitioners. Automation is no longer a luxury but a strategic investment that all firms, regardless of their size, should consider.

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SkagitCountyTaxServices

JANUARY 28, 2021

That’s why the “second stimulus bill” signed into law in late December 2020 was a welcomed one for us here at Padgett & Padgett, PLLC CPA — simply because it means we can do MORE for our Skagit County business owner clients during a very tumultuous year for many. Because action will be necessary in some cases.

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inDinero Tax Tips

MARCH 3, 2021

Whether you file your business’s taxes yourself or you have help, making sure your tax returns are right and on time is a lot easier when you. By outsourcing your business’s accounting and taxes with inDinero , you’re covered on both fronts. Are you still working on your 2019 business taxes? annual or quarterly).

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Ronika Khanna CPA,CA

MARCH 31, 2022

The information from this form would then be entered on Schedule T777 of your personal tax return. This covers home office expenses and also other employment expenses such as supplies, cell phones and vehicles For 2020, The T2200s is a simplified version of the T2200 in that it only has one section for home office expenses.

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CPA Practice

JANUARY 12, 2024

the technology company that makes Intuit TurboTax , Credit Karma , QuickBooks , and Mailchimp , has integrated TurboTax into Credit Karma and QuickBooks Online, allowing customers to prepare and file their 2023 taxes within those programs’ interfaces. The tax experts can also help uncover tax deductions to minimize tax burdens.

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LyfeAccounting

OCTOBER 21, 2020

What if you actually looked forward to tax season every year? Well, when you take advantage of small business tax deductions, filing can actually be an enjoyable experience. In 2020, depending on your income, your tax bracket could be as high as 37%. Travel expenses. Ok, this is not for the personal travel expenses.

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Nancy McClelland, LLC

APRIL 16, 2023

(c) Nataliya Vaitkevich via Pexels I used to find it annoying when a client would forward me an article about a tax deduction or credit, to make sure I would take it on their tax return. – Payment or billing for the food and beverages occurs after December 31, 2020, and before January 1, 2023.

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LyfeAccounting

JUNE 11, 2021

New IRS Unemployment Tax Refund Update. If you, or anyone you know, paid any taxes on unemployment last year, read on because we have some very important news for you. It is regarding 2020 tax refunds and those who paid taxes on their unemployment compensation last year. Who Should Be Receiving a Tax Refund.

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Nancy McClelland, LLC

APRIL 9, 2023

The post below is about how to pay IL taxes personally ; click here for how to make IL business tax payments. There are multiple options for paying personal quarterly estimated taxes. Next, follow the instructions for making a quarterly estimated tax payment; it will make you enter your personal information (SSN, etc.)

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LyfeAccounting

JANUARY 30, 2021

And if you have been adhering to our suggestions or taken advantage of the tax system in 2020 then you likely know what to expect and excited for this tax year. On the other hand, if you’ve paid very little attention to some of the tax changes or programs then you’ve got a lot to catch up on. February 12, 2021.

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Nancy McClelland, LLC

APRIL 9, 2023

The IRS “Direct Pay” landing page, There are multiple options for paying personal quarterly estimated taxes. You can: have your tax preparer create vouchers that you then print and mail with a check; prepare your own vouchers and do the same; or pay online. IRS “Direct Pay” Step 3 of 5, part one.

Tax 52

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xendoo

SEPTEMBER 2, 2021

Adopting a proactive strategy can help you stay ahead of business tax filing deadlines, avoiding the rush and the headache during tax season! . To help business owners with their tax preparation , we’ve prepared a business tax filing guide to walk you through the process. Corporate Income Tax Returns.

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CPA Practice

APRIL 11, 2024

By Jean Ross, InsideSources.com (TNS) If there’s one thing we should be able to agree upon, it’s that everyone should pay the taxes they owe without having to pay for the privilege of doing so. This year, for the first time, residents of 12 states who file simple tax returns can file online for free using the IRS’s new Direct File portal.

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Snyder

AUGUST 12, 2022

Among the primary functions of accounting are to prepare and analyze: Financial audits Forecasting Financial planning and long-term budgeting Tax returns Performance optimization. According to the Bureau of Labor Statistics , the median pay for accountants in 2020 was $73,180~$78,600.

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LyfeAccounting

JUNE 17, 2021

So, in one of our previous posts, we were getting a lot of questions if you can get the child tax credit if you don’t file taxes. Keep reading to learn more about the child tax credit portal update! These people can now use the online tool to register for monthly child tax credit payments. And that’s it!

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Dent Moses

JUNE 29, 2023

According to the 2022 General Accounting Office,25% of all individual returns were audited in 2019 versus.90% 90% in 2020. Letters for matching errors or return discrepancies are much more common. So how does the IRS check returns and decide who gets a letter or audit? The same goes for estimated tax payments.

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Dent Moses

JUNE 28, 2023

According to the 2022 General Accounting Office,25% of all individual returns were audited in 2019 versus.90% 90% in 2020. Letters for matching errors or return discrepancies are much more common. So how does the IRS check returns and decide who gets a letter or audit? The same goes for estimated tax payments.

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