If you prepare tax returns for a living, remember you have to put all illegal sources of income down or you are guilty of filing false tax retuns.See this article in Accounting Today by Michale Cohn regarding an Alaska tax preparer whose tax client sold Marijuana. Apparently the tax preparer was so popular other drug dealers had her prepare there returns too (she was getting them the earned income credit, since they had little other income besides drug dealing.)Anyway here is the article:http://www.accountingtoday.com/news/Tax-Preparer-Omitted-Marijuana-Sales-Returns-62368-1.html?ET=webcpa:e2403:204199a:&st=emailRemember, You can count on us to count for you!
Brian’s Tax Musings – IRS Fraud Processes delayed 7.8 Million Tax Refunds
See this article in Accounting Today by Michael Cohn. Apparently fraud filitering problems and other issues delayed a lot of tax refunds from February 2-11 this year:http://www.accountingtoday.com/news/Tax-Refunds-Delayed-IRS-TIGTA-62355-1.html?ET=webcpa:e2394:204199a:&st=email&utm_source=editorial&utm_medium=email&utm_campaign=WebCPA_Daily_041612The problems were later resolved, but I guess it doesn’t pay to file too early. The IRS was also having some problems with its “Where’s My Refund” tool on its website www.irs.gov Remember, You can count on us to count for you!
Brian’s Financial Musings – Pricing Colleges
If you have kids that are almost ready to look for a college, the Cosumer Finance Protection Bureau has a new beta program that will help you price college costs. Called Know Before You Owe, it compares college costs of up to three colleges at a time, plus some financial aid packages. Take a look here:http://www.consumerfinance.gov/payingforcollege/Remember, You can count on us to count for you!