beware the ez way out

irs mulls new 1023-ez rules for 501(c)(3)’s.

by rick telberg
卡塔尔世界杯常规比赛时间

it’s safe to say that cpa firms tend to love irs form 1023-ez, the simplified form for application for 501(c)(3) tax exempt status. introduced in 2014, the form was ez on the nascent, smallish not-for-profit and on the cpa trying to help them get started.

special report – fixing the irs: irs #fails at online services spell problems for professionals | tax accountants fill the breach of a failing irs | beware the ez way out | can the irs improve its phone service? | when clients face ‘unreal’ irs audits | irs warns about private debt collectors for tax season 2018  | underfunded irs swamped with problems | irs in retreat from communities | military personnel face new battles at home: the irs | as new economy surges, irs falls further behind | is the irs winning the battle against identity theft? | irs mulls raising fees to cover budget shortfalls  |

more at taxtrendlines.com

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this easier version of form 1023 was a good and necessary idea. the irs was way backed up on approvals of the original application. approval was taking an average of 315 days. to the delight of do-gooders, wanna-be do-gooders, and outright frauds, virtually all 1023-ezs are approved in short order. approvals were and still are passed down in just a couple of weeks.

trouble is, a lot of those expedited approvals were for organizations that didn’t qualify for 501(c)(3) status.

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biometrics and next-gen security for innovative firms

portrait of thomas schoessow
schoessow

3 critical points to consider.

by thomas schoessow
vp of technology, abacusnext

when you enter the field of accounting, it’s natural to assume you know what you need to know in order to develop your practice and succeed. after all, you’re an expert in your field, and you can help clients build their business and think strategically about their financial decisions.

but, what you may not have realized is that much of your success and growth will rely not only on your subject matter expertise, but also on how you manage technology and data security within your accounting firm. read more →

irs #fails at online services spell problems for professionals

unintended consequences: pushing low-end taxpayer-clients to tax professionals.

by rick telberg
卡塔尔世界杯常规比赛时间

online accounts at the irs are a good idea, but maybe not as good as the irs would like to think – certainly not as good as a qualified tax preparer.

special report – fixing the irs: irs #fails at online services spell problems for professionals | tax accountants fill the breach of a failing irs | beware the ez way out | can the irs improve its phone service? | when clients face ‘unreal’ irs audits | irs warns about private debt collectors for tax season 2018  | underfunded irs swamped with problems | irs in retreat from communities | military personnel face new battles at home: the irs | as new economy surges, irs falls further behind | is the irs winning the battle against identity theft? | irs mulls raising fees to cover budget shortfalls  |

more at taxtrendlines.com

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the taxpayer advocacy service has long called for online accounts. in 2016 they became a reality. unfortunately, for many, it has been a painful reality.

the migration toward online assistance – ideally automated online assistance – is a product of the severe budget cuts the irs has suffered. the service can’t afford personnel to man the phones or keep taxpayer assistance centers open.

but the budget cuts did not mandate a cut in the taxpayer bill of rights. taxpayers still have a legal right to quality service, confidentiality and a fair, just tax system.

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can the irs improve its phone service?

by rick telberg
卡塔尔世界杯常规比赛时间

when the internal revenue service launched its “future state initiative” in 2016, it promised a new and admirable level of service. from then on, taxpayers could expect the same level of service when dealing with the irs as they get from a financial institution or a retailer. or, so it seemed.

special report – fixing the irs: irs #fails at online services spell problems for professionals | tax accountants fill the breach of a failing irs | beware the ez way out | can the irs improve its phone service? | when clients face ‘unreal’ irs audits | irs warns about private debt collectors for tax season 2018  | underfunded irs swamped with problems | irs in retreat from communities | military personnel face new battles at home: the irs | as new economy surges, irs falls further behind | is the irs winning the battle against identity theft? | irs mulls raising fees to cover budget shortfalls  |

more at taxtrendlines.com

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such brave words for a brave new world of tax collection! alas, the promise of better service has not combined well with congressional cuts to the irs budget. the brunt of those cuts is felt at the interface of frustrated taxpayers and stretched-thin irs agents.

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josh zweig’s liveca offers new thinking from the ground up

how does your firm define itself?

by kayleigh padar
from success to significance: the radical cpa guide

josh zweig cpa ca lpa cofounder
zweig

josh zweig is the co-founder of liveca llp, a canadian chartered accounting firm of about 40 people that is run remotely, without a traditional office building. it’s all virtual – a work anywhere business. three years ago, the entire business was just a sole proprietorship; now it is bringing in millions of dollars of revenue.

more on radicalism: our clients need us to be radical | 10 steps to start innovating | the value of new ideas | the radical road to (business) transformation | the radical cpa: always changing
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the firm’s biggest challenge is recruitment. “for smaller firms that don’t have 20 college reps to go down to every school and recruit, it becomes increasingly hard to get word out that there is an alternative here for people,” zweig said.

read more →

when clients face ‘unreal’ irs audits

irs adopts confusing, misleading terminology. but it’s all very real.

by rick telberg
卡塔尔世界杯常规比赛时间

tax professionals and accounting firms need to be aware that their clients may face two kinds of internal revenue audits: real and unreal.

really.

special report – fixing the irs: irs #fails at online services spell problems for professionals | tax accountants fill the breach of a failing irs | beware the ez way out | can the irs improve its phone service? | when clients face ‘unreal’ irs audits | irs warns about private debt collectors for tax season 2018  | underfunded irs swamped with problems | irs in retreat from communities | military personnel face new battles at home: the irs | as new economy surges, irs falls further behind | is the irs winning the battle against identity theft? | irs mulls raising fees to cover budget shortfalls  |

more at taxtrendlines.com

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

and it’s the “unreal” audits that are going to become more common. read more →

underfunded irs swamped with problems

olson talking budget cuts on c-span

not a good way to start tax season 2018.

by rick telberg
卡塔尔世界杯常规比赛时间

an angry and frustrated national taxpayer advocate nina e. olson has slammed congress hard in the taxpayer advocate service 2017 annual report to congress. after a series of irs budget cuts over the last several years, olson says she sees the daily consequences of reduced funding and the choices made by the agency in the face of funding constraints.

special report – fixing the irs: irs #fails at online services spell problems for professionals | tax accountants fill the breach of a failing irs | beware the ez way out | can the irs improve its phone service? | when clients face ‘unreal’ irs audits | irs warns about private debt collectors for tax season 2018  | underfunded irs swamped with problems | irs in retreat from communities | military personnel face new battles at home: the irs | as new economy surges, irs falls further behind | is the irs winning the battle against identity theft? | irs mulls raising fees to cover budget shortfalls  |

more at taxtrendlines.com

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“funding cuts have rendered the irs unable to provide acceptable levels of taxpayer service, unable to upgrade its technology … and unable to maintain compliance programs that both promote and protect taxpayer rights,” olson says in her preface to the annual report.

“‘shortcuts’ have become the norm, and ‘shortcuts’ are incompatible with high-quality tax administration,” says olson, describing her agency as swamped with problems and inadequacies.

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2018 tax filing season begins jan. 29

tax returns due april 17.

from the irs

the internal revenue service announced today that the nation’s tax season will begin monday, jan. 29, 2018 and reminded taxpayers claiming certain tax credits that refunds won’t be available before late february.

the irs will begin accepting tax returns on jan. 29, with nearly 155 million individual tax returns expected to be filed in 2018. the nation’s tax deadline will be april 17 this year – so taxpayers will have two additional days to file beyond april 15.  read more →

the irs tip 10 list for choosing a tax pro

setting expectations.

by 卡塔尔世界杯常规比赛时间

as a tax pro, you already know what it takes to serve your clients well. but do your clients and prospects know?

in a new 10-point news release aimed at taxpayers, the irs sets some guidelines for taxpayers to “choose their tax return preparer wisely.” you might want to be prepared for the questions clients and prospects may ask.

here are ten tips for taxpayers to remember when selecting a preparer:

read more →