Well, in 2012 (for the 2011 tax filing season). if a tax preparer files more than 10 tax individual tax returns with the IRS they are required to be efiled unless:1. Taxpayer doesn’t want to efile2. IRS doesn’t allow the return to be efiled for some reason.If returns are not efiled, form 8948 should be submitted with the filing copy to the IRS.Now is also the time for preparers to get their Electronic Filing Identification Numbers from the IRS (EFIN). It is hard to electronically file a return without it (impossible, really!)If your preparer is not efiling your returns, ask him why. I efiled every individual return that was allowed to be efiled by the IRS and the taxpayer wanted to be efiled. So if your preparer doesn’t do it, I certainly can. Call me at 818-317-6035 or email me at bstonercpa@sbcglobal.net and let’s talk about it.
Brian’s Tax Musings
If your tax preparer has not gotten his or her preparer tax identification number (PTIN), now is the time to do it. All preparers who charge for preparation are supposed to have this number before they prepare returns. Here is an article about it:http://www.accountingtoday.com/news/IRS-PTIN-Renewal-Tax-Season-60531-1.html For all your information I renewed my PTIN last week, so I am ready for tax season (except for software, organizers and appointments). Didn’t tax season just end on October 17?
Brian’s Financial Musings
Last week Helicopter Ben was speaking at the 56th Economic Conference in Boston and let slip that the Fed may not just be trying to stop inflation anymore, but also may targeting nominal gross domestic product (the two don’t normally go hand in hand).If the fed tries to prop up NGDP as well as fight inflation, it will certainly be entertaining in the next few years.Here is an article about the Helicopter Man:http://business-news.thestreet.com/signonsandiego/story/the-most-important-ben-bernanke-speech-that-no-one-heard/11282562