This article in the Los Angeles Times by Walter Hamilton doesn’t really tell how long we will wait for our tax refunds, just that the IRS is taking a much longer time than normal because of the fiscal cliff:http://www.latimes.com/business/money/la-fi-mo-irs-delays-tax-refunds-fiscal-cliff-20130208,0,6901725.storySo how long? Well let’s see – last year was 1 to 2 weeks for your federal tax direct deposit with efiling; about 2 weeks longer for direct deposit with paper filing, and an ungodly amount of time for paper filing without direct deposit. This year I guess it is just an ungodly amount of time all the way around?Remember, for financial, accounting and tax musings,You can count on us to count for you! email bstonercpa@sbcglobal.net phone 818-317-6035 Website www.briantstonercpa.com
CPA Tax Musings: A Taxing Issue Worth Addressing
This article in Accounting Today by Charlie Egerton is giving it the old college try to revise the tax code – siting the 100th Anniversary of the 16th amendment allowing Congress to levy an income tax (a heinus crime to some, an employment incentive to others like tax preparers):http://www.accountingtoday.com/news/Taxing-Issue-Worth-Addressing-65602-1.htmlAs to whether the code will be revised as this article pleads for, I only have the old Starkist Tuna commercial to go back on: “Sorry Charlie!”Remember, for financial, accounting and tax musings,You can count on us to count for you! email bstonercpa@sbcglobal.net phone 818-317-6035 Website www.briantstonercpa.com
CPA Tax Musings: Court Modifies Ruling Invalidating Tax Preparer Regulations
So the judge refuses to stay his ruling against the IRS until the appeal is heard, but you are still required to have a PTIN and can take the RTRP test and CE on a voluntary basis. See this breakdown in Accounting Today by Michael Cohn:http://www.accountingtoday.com/news/Court-Modifies-Ruling-Invalidating-Tax-Preparer-Regulations-65585-1.htmlThis is probably the right call – if the court rules against someone, you shouldn’t be allowed to continue to do what you did until another court checks it out.Remember, for financial, accounting and tax musings,You can count on us to count for you! email bstonercpa@sbcglobal.net phone 818-317-6035 Website www.briantstonercpa.com