The IRS has released data on what type of designation holds Preparer Tax Identification Numbers, or PTINs. Check out this posting below by Daniel Hood in AccountingToday to see the breakdown between CPAs, EAs, Attorneys and ‘other’: http://www.accountingtoday.com/news/irs-releases-details-on-ptin-holders-68272-1.html?ET=webcpa:e9385:204199a:&st=email You will notice that CPAs lead the field. The interesting thing is there are over 280,000 PTINs that are not listed in here or the IRS Website: http://www.irs.gov/Tax-Professionals/Return-Preparer-Office-Federal-Tax-Return-Preparer-Statistics They all may be Registered Tax Return Preparers (PTRPs) or maybe something else. A mystery, isn’t it? 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 https://twitter.com/bstonercpa
IRS Suspends Tax Refunds and Tax Court Closes during Government Shutdown
The IRS will be shutting down some services and functions, including issuing tax refunds. See this article in AccountingToday by Michael Cohn for more details: http://www.accountingtoday.com/news/IRS-Suspends-Tax-Refunds-Tax-Court-Closes-Government-Shutdown-68228-1.html?ET=webcpa:e9359:204199a:&st=email It is interesting that the IRS encourages you to keep filing returns and paying taxes even though they will not refund you your own money you overpaid in taxes! On the bright side, Tax Court is closed and all audit meetings have been suspended. 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 https://twitter.com/bstonercpa
IRS Sets Per Diem Rates for Lodging, Meals and Incidental Expenses
The Internal Revenue Service has set the per diem rates that taxpayers can use to substantiate the amount of expenses for lodging, meals and incidental expenses when traveling away from home. See this post in AccountingToday by Michael Cohn for more details: http://www.accountingtoday.com/news/IRS-Sets-Per-Diem-Rates-Lodging-Meals-Expenses-68178-1.html You can take actual expenses if they will give you a bigger deduction than these per diem rates, but it gives you a starting point in case you are missing receipts to at least give you some travel deduction. 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 https://twitter.com/bstonercpa