Paid Tax Return Preparers

Author : Michael Brostek
Publisher : DIANE Publishing
ISBN 13 : 1437910149
Total Pages : 41 pages
Book Rating : 4.48/5 ( download)

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Download or read book Tax Preparers written by Michael Brostek and published by DIANE Publishing. This book was released on 2009-03 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Millions of taxpayers use paid tax return preparers and many of these paid preparers are not subject to any qualification requirements. Paid preparers in Calif. and Oregon are exceptions in that these states have set paid preparer qualification standards. Additionally, two bills before Congress would require national paid preparer regulations. This report studied: (1) how IRS, Calif., Oregon, and other states regulate paid preparers; (2) how the accuracy of federal tax returns from Calif. and Oregon compare to other returns; and (3) state-level costs and benefits of the Calif. and Oregon programs and insights they provide for a possible national program. Includes recommendations. Charts and tables.

Author : United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight
Publisher :
ISBN 13 :
Total Pages : 112 pages
Book Rating : 4.61/5 ( download)

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Download or read book The Implementation of the IRS Paid Tax Return Preparer Program written by United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight and published by . This book was released on 2011 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : The Tax Institute at H&R Block
Publisher : John Wiley & Sons
ISBN 13 : 1118072626
Total Pages : 582 pages
Book Rating : 4.22/5 ( download)

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Download or read book Wiley Tax Preparer written by The Tax Institute at H&R Block and published by John Wiley & Sons. This book was released on 2013-03-25 with total page 582 pages. Available in PDF, EPUB and Kindle. Book excerpt: Whether you’re already a tax preparer or you’re looking to become one, you need a firm grasp of the tax concepts on which individual taxation is based. We created the Wiley Tax Preparer as a refresher for the experienced tax preparer, and as a readable guide for the less-experienced tax preparer. This timely guide is an essential tax resource providing you with useful information on tax principles and filing requirements that a preparer must know to complete a 1040 series return and associated schedules. You’ll refer to it time and again, for information about: Practices and Procedures Penalties to be assessed by the IRS against a preparer for disregard of the rules and regulations Furnishing a copy of a return to a taxpayer Safeguarding taxpayer information Treatment of Income and Assets Taxability of wages, salaries, tips, and other earnings Reporting requirements of Social Security benefits Determination of basis of assets Deductions and Credits Medical and dental expenses Types of interest and tax payments Child and dependent care credit Other Taxes Alternative Minimum Tax Self-Employment Tax Preliminary Work and Collection of Taxpayer Data Collecting a taxpayer’s filing information and determining their status Determine filing requirements, including extensions and amended returns Personal exemptions and dependents Completion of the Filing Process Check return for completeness and accuracy Tax withholding, payment and refund options, and estimated tax payments Explaining and reviewing the tax return Ethics and Circular 230 Preparer’s due diligence for accuracy of representations made to clients and the IRS Sanctions that may be imposed under Circular 230 Rules governing authority to practice before the IRS If you’re looking for a practical guide to the principles behind Form 1040, look no further. The Wiley Tax Preparer is the most accessible guide to understanding how complex tax laws affect individual taxpayers.

Author : James R. White
Publisher : DIANE Publishing
ISBN 13 : 9780756740191
Total Pages : 46 pages
Book Rating : 4.93/5 ( download)

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Download or read book Tax Administration written by James R. White and published by DIANE Publishing. This book was released on 2004-04 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over 55% of the 130 million taxpayers in tax year 2001 used a paid tax preparer. However, using a preparer may not assure that taxpayers pay the least amount due. As many as 2 million taxpayers overpaid their 1998 taxes by $945 million because they failed to itemize deductions and half of these used preparers. This report: obtained the views of taxpayers about paid preparers and examples of preparer performance including any problems; and describes the IRS's oversight of problem preparers; the challenges facing IRS in dealing with problem preparers; and the efforts to address those challenges. To obtain the views of taxpayers who used preparers, the authors surveyed a national representative sample of taxpayers. Charts and tables.

Author : U.s. Government Accountability Office
Publisher : Createspace Independent Publishing Platform
ISBN 13 : 9781973956358
Total Pages : 28 pages
Book Rating : 4.57/5 ( download)

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Download or read book Paid Tax Return Preparers, in a Limited Study, Preparers Made Significant Errors written by U.s. Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-07-28 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: " For tax year 2011, an estimated 56 percent of about 145 million individual tax returns were completed by a paid preparer. IRS has long recognized that preparers' actions have an enormous effect on its ability to administer tax laws effectively and collect revenue that funds the government. Likewise, many taxpayers rely on preparers to provide them with accurate, complete, and fully compliant tax returns. GAO was asked to review the oversight and quality of paid preparers. This testimony examines (1) how preparers are regulated by IRS and (2) the characteristics of tax returns completed by preparers based on products GAO issued from April 2006 through August 2008 and work conducted from November 2013 to April 2014. GAO reviewed laws, regulations and other guidance and interviewed IRS officials. GAO analyzed IRS Statistics of Income data from tax year 2011, the most recent data available, and the NRP database, which broadly tracks compliance. To gain insight on the quality of service provided, GAO conducted 19 undercover site visits to commercial preparers in a metropolitan area. Criteria to select the metropolitan area included whether the state regulates preparers and levies an income tax. "

Author : James White
Publisher : DIANE Publishing
ISBN 13 : 143798388X
Total Pages : 31 pages
Book Rating : 4.83/5 ( download)

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Download or read book Tax Preparer Regulation written by James White and published by DIANE Publishing. This book was released on 2011-08 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Paid preparers (PP) prepare 60% of all tax returns filed, and their actions affect the IRS¿s ability to administer tax laws. A previous report found that some PP made significant errors in preparing tax returns and proposed stricter regulation of preparers. IRS is implementing new requirements for PP that it believes will increase tax compliance, which will reduce the gross tax gap between taxes owed and taxes paid, last estimated at $345 billion for 2001. This report: (1) describe IRS¿s plans for implementing and ensuring PP compliance with the requirements; (2) assesses IRS¿s resource estimates for the requirements; and (3) assesses IRS¿s plans to use the requirements to improve taxpayer compliance and evaluate their effect. A print on demand report.

Author : United States. Congress. Senate. Committee on Finance
Publisher :
ISBN 13 :
Total Pages : 328 pages
Book Rating : 4.2L/5 ( download)

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Download or read book Protecting Taxpayers from Incompetent and Unethical Return Preparers written by United States. Congress. Senate. Committee on Finance and published by . This book was released on 2014 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : The Tax Institute at H&R Block
Publisher : John Wiley & Sons
ISBN 13 : 0470946385
Total Pages : 663 pages
Book Rating : 4.81/5 ( download)

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Download or read book Wiley Registered Tax Return Preparer Exam Review 2012 written by The Tax Institute at H&R Block and published by John Wiley & Sons. This book was released on 2012-01-27 with total page 663 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most effective system available to prepare for the new Tax Return Preparer Competency Exam In recent years, the role of third party assistance in tax return preparation within the United States has become more significant. To acknowledge this trend, the IRS is strengthening partnerships with tax practitioners, tax return preparers, and other third parties in order to ensure effective tax administration that adheres to professional standards and follows the law. Beginning in 2011, tax return preparers are required to pass a competency test to officially become registered tax return preparers. The Wiley Registered Tax Return Preparer Exam Review Book 2012 has been designed with this in mind and is the perfect guide to help you pass this comprehensive test. The course, complete with extensive exercises and a final exam review, will provide you with a solid foundation on the subject of taxes, and the preparation of an accurate and complete income tax return. Along the way, it covers specific tax issues you need to be familiar with, including tax theory and law; conducting a thorough client interview; and offering tax advice and explanations to clients. Helps you zero in on areas that need work, organize your study program, and concentrate your efforts Provides paid tax return preparers who are not enrolled agents, attorneys, or Certified Professional Accountants (CPAs) with the individual taxation information they need to pass this competency test Covers the major parts of the exam and how to approach each one Informative and insightful, the Wiley Registered Tax Return Preparer Exam Review Book 2012 will put you in the best position possible to pass this important exam.

Author : Danshera Cords
Publisher :
ISBN 13 :
Total Pages : 41 pages
Book Rating : 4.08/5 ( download)

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Download or read book Paid Tax Preparers, Used Car Dealers, Refund Anticipation Loans, and the Earned Income Tax Credit written by Danshera Cords and published by . This book was released on 2019 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2004 more than 60 percent of all taxpayers used paid tax preparers. The percentage of taxpayers using paid preparers increased to about 73 percent for taxpayers claiming the Earned Income Tax Credit ("EITC") in 2006. Because most taxpayers use paid tax preparers there should be some means by which to ensure that tax preparation services are of high quality. Currently, many return preparers are unlicensed and unregulated. Recent legislative and regulatory proposals and government reports recommend changes to the way that paid return preparers are treated, the ability of tax preparers to share taxpayer information with lenders for purposes of facilitating RALs, and the benefits of additional free tax preparation resources. Research indicates that paid preparers do not always explain lower cost alternatives, explain the alternatives well, or fully explain all of the costs associated with the return and ancillary financial products and services, including RALs. Many in Congress believe that fraud is rampant in the EITC, allocating significant resources to reduce EITC noncompliance and imposing harsh sanctions on taxpayers discovered to have erroneously or fraudulently misclaimed the EITC. Increased regulation of tax return preparers and disclosure. More complete disclosures would reduce the number of RALs and thereby reduce the resources that must be allocated to EITC compliance, which will help improve both tax compliance and the situation of low-income taxpayers. This Article argues that consistent regulation of paid preparers and greater oversight of RALs, coupled with increased simplification of the EITC, should reduce EITC noncompliance. This Article concludes that rather than devoting additional resources to EITC enforcement, the government should direct more resources to providing greater oversight of return preparers and increase education about and availability of free return preparation alternatives. Redirecting resources in this way might have a greater effect on accurate tax reporting, a better result than collecting very small sums from low-income individuals-whose noncompliance may be a result in many cases of taxpayers' failure to understand very complex rules.

Author : Internal Revenue Internal Revenue Service
Publisher : Createspace Independent Publishing Platform
ISBN 13 : 9781542476768
Total Pages : 56 pages
Book Rating : 4.63/5 ( download)

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Download or read book Return Preparer Review written by Internal Revenue Internal Revenue Service and published by Createspace Independent Publishing Platform. This book was released on 2017-01-13 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: The role of various forms of third party assistance in tax return preparation in the United States has become increasingly important. For 2007 and 2008, over 80 percent of all federal individual income tax returns were prepared by paid tax return preparers or by taxpayers using consumer tax preparation software. The IRS acknowledged this trend with the inclusion of the following objectives in its strategic plan: 1) Strengthen partnerships with tax practitioners, tax return preparers, and other third parties in order to ensure effective tax administration; and 2) Ensure that all tax practitioners, tax return preparers, and other third parties in the tax system adhere to professional standards and follow the law. In June 2009, IRS Commissioner Douglas Shulman launched the Return Preparer Review to help accomplish these objectives. The IRS sought to have its review process be an open and transparent discussion of the issues with the tax return preparer community, the associated industry, consumer advocacy groups, and the American public. The IRS solicited input from a diverse community of stakeholders through multiple outlets. The IRS thanks the hundreds of individuals and organizations who took part in this review and looks forward to a continuing productive relationship to implement the recommendations in this report.