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Important Dates:
The IRS will not start their normal 3 drains a day until Monday, January 18th. Below is the weekend drain cycle:
Friday, January 15, 2010: One drain at 11 AM Service Center Time
Saturday, January 16, 2010: One drain at 11 AM Service Center Time
Sunday, January 17, 2010: Two drains at 11 AM and 6 PM Service Center Time
Reminder: The IRS will not release their first acknowledgements until after the 11 AM drain on Sunday, January 17th
IRS Quick Alert (Regarding Last "Check Stub")
Authorized IRS e-file Providers must not submit electronic returns to the IRS prior to the receipt of all Forms W-2, W-2G, and 1099-R from the taxpayers.
If taxpayers are unable to secure and provide a correct Form W-2, W-2G, or 1099-R, Providers may submit the electronic return only after securing Form 4852, Substitute for Form W-2, Wage and Tax Statement, or Form 1099-R, Insurance Contracts, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs etc. in accordance with the use of that form. This is the only time Providers should submit an electronic return with information from pay stubs or Leave and Earning Statements (LES).
The IRS monitors Authorized IRS e-file Providers for compliance with this and other IRS e-file rules and requirements. The IRS conducts monitoring visits to ensure compliance with Revenue Procedure 2007-40 and with IRS e-file rules and requirements included in IRS e-file publications.
The IRS may warn or sanction Providers that violate IRS e-file rules and requirements. Sanctions may be a written reprimand, suspension of one to two years or expulsion from participation from IRS e-file depending on the seriousness of the infraction. The IRS categorizes the seriousness of infractions as Level One, Level Two, and Level Three. Providers may appeal sanctions through the Administrative Review Process. Additional information regarding sanctioning is available at irs.gov in Publication 3112, IRS e-file Application and Participation.
IRS Regulation 7216
IRS Regulation 7216 is effective January 1, 2009 and provides oversight to tax preparers regarding the use and disclosure of their clients’ tax information. Tax preparers who fail to comply with this regulation face a possible $1,000 fine and one year in jail for each violation.
IRS Regulation 7216: Use and Disclosure of Tax Information
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| Consent to Use of Tax Return Information |
| As a tax preparer, you are required to have the client’s permission to use his or her tax information for purposes other than preparing and filing the tax return (such as determining whether bank or other financial products may be available to the client). The Consent to Use of Tax Return Information explains this requirement and must be signed before the return is prepared. |
| Consent to Disclosure of Tax Return Information |
| As a tax preparer, you are required to have the client’s permission to disclose his or her tax return information to third parties (such as to banks for bank products, or to service bureaus or franchisors). The Consent to Disclosure of Tax Return Information must be signed before sending the return to the designated third party |
IRC 7216