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PTIN Requirements for Tax Return Preparers | Internal Revenue Service Regulations require all paid tax return preparers to obtain a PTIN. Preparers must renew their PTIN each year by December 31.
IRS loses lawsuit over PTIN fees, suspends PTIN system, and may be forced to refund preparers A federal district court has ruled in favor of tax preparers who filed a class-action lawsuit against the Internal Revenue Service over its right to charge fees for Preparer Tax Identification Numbers, and the IRS may need to refund hundreds of millions of dollars in fees collected each year.
IRS and Partners Look to Start of 2017 Tax Season; Encourage use of IRS.gov and e-File; Warn of Refund Delays IRS YouTube Videos When Will I Get My Refund: English | Spanish Claiming EITC or ACTC? Your Refund May Be Delayed: English
2017 Tax Filing Season Begins Jan. 23 for Nation’s Taxpayers, Tax Returns Due April 18 IR-2016-167, Dec. 9, 2016
Learn to Prepare Taxes by Becoming a Tax Volunteer The IRS is looking for people to provide free tax help in 2017. Become a tax volunteer and make a difference in your community. The IRS sponsors the Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) programs. These two programs offer free tax help across the country for...
IRS Launches More Rigorous e-Authentication Process and Get Transcript Online Update August 2016 — For updated information, please see Secure Access: How to Register for Certain Online Self-Help Tools.
2016 Tax Season Opens Jan. 19 for Nation’s Taxpayers WASHINGTON ― Following a review of the tax extenders legislation signed into law last week, the Internal Revenue Service announced today that the nation’s tax season will begin as scheduled on Tuesday, Jan. 19, 2016.
Tips from IRS for Year-End Gifts to Charity WASHINGTON — The Internal Revenue Service today reminded individuals and businesses making year-end gifts to charity that several important tax law provisions have taken effect in recent years.
For ADA Anniversary: IRS Spotlights Tax Benefits and Services for People With Disabilities WASHINGTON — Sunday, July 26th, is the 25th anniversary of the Americans With Disabilities Act, and the Internal Revenue Service is marking the occasion by spotlighting a number of tax benefits and services that can help taxpayers with disabilities.
Tax Pros Can Earn CPE Credits at the 2015 IRS Nationwide Tax Forums WASHINGTON — The Internal Revenue Service today reminded tax professionals to register for the 2015 IRS Nationwide Tax Forums, which begin this July. The forums provide up to 18 Continuing Professional Education credits for enrolled agents, certified public accountants, certified financial planners,…
SEE Alex Muir AFSP in the directory!!!
IRS Starts 2015 Tax Season; Free File Opens Tomorrow, E-File Tuesday; Expanded Online Services... IRS YouTube Videos Help for Taxpayers: English | ASL When Will I Get My Refund: English | Spanish Welcome to Free File: English IRS Tax Payment Options: English | Spanish Do I Have To File A Tax Return: English | Spanish
IRS Launches International Data Exchange Service; Supports Reporting under FATCA and... WASHINGTON — The Internal Revenue Service announces the opening of the International Data Exchange Service (IDES) for enrollment. Financial institutions and host country tax authorities will use IDES to securely send their information reports on financial accounts held by U.S. persons to the IRS un…
New IRS Filing Season Program Unveiled for Tax Return Preparers WASHINGTON — The Internal Revenue Service announced today that guidance will soon be issued outlining a new voluntary program designed to encourage education and filing season readiness for paid tax return preparers. The program will be in place to help taxpayers during the 2015 filing season.
Online Seminars from the 2014 IRS Nationwide Tax Forums are Now Available WASHINGTON — The Internal Revenue Service today reminded tax professionals that they can earn continuing professional education credits online through seminars filmed at the 2014 IRS Nationwide Tax Forums.
New YouTube Videos Provide Tips on Health Care, Tax Returns IRS YouTube Video:IRS Commissioner: Individual Shared Responsibility Provision: EnglishIRS Commissioner: Premium Tax Credit-Changes in Circumstances: English
New 1023-EZ Form Makes Applying for 501(c)(3) Tax-Exempt Status Easier; Most Charities Qualify WASHINGTON — The Internal Revenue Service today introduced a new, shorter application form to help small charities apply for 501(c)(3) tax-exempt status more easily.
Sign Up Now for the 2014 IRS Nationwide Tax Forums and Save Money WASHINGTON — The IRS invites enrolled agents, certified public accountants, certified financial planners and other tax professionals to register for the 2014 IRS Nationwide Tax Forums. Those who sign up by the pre-registration date will save $130 per attendee off the on-site price.
2013 Earned Income Credit Limitations
•$46,227 ($51,567 married filing jointly) with three or more qualifying children
•$43,038 ($48.378 married filing jointly) with two qualifying children
•$37,870 ($43,210 married filing jointly) with one qualifying child
•$14,340 ($19,680 married filing jointly) with no qualifying children
Tax Year 2013 maximum credit:
•$6,044 with three or more qualifying children
•$5,372 with two qualifying children
•$3,250 with one qualifying child
•$487 with no qualifying children
Tax Season has officially began 1040 instructions have been posted to the IRS website at irs.gov
Annual Inflation Adjustments for 2013
IR-2013-4, Jan. 11, 2013
WASHINGTON — The Internal Revenue Service announced today annual inflation adjustments for tax year 2013, including the tax rate schedules, and other tax changes from the recently passed American Taxpayer Relief Act of 2012.
The tax items for 2013 of greatest interest to most taxpayers include the following changes.
•Beginning in tax year 2013 (generally for tax returns filed in 2014), a new tax rate of 39.6 percent has been added for individuals whose income exceeds $400,000 ($450,000 for married taxpayers filing a joint return). The other marginal rates — 10, 15, 25, 28, 33 and 35 percent — remain the same as in prior years. The guidance contains the taxable income thresholds for each of the marginal rates.
•The standard deduction rises to $6,100 ($12,200 for married couples filing jointly), up from $5,950 ($11,900 for married couples filing jointly) for tax year 2012.
•The American Taxpayer Relief Act of 2012 added a limitation for itemized deductions claimed on 2013 returns of individuals with incomes of $250,000 or more ($300,000 for married couples filing jointly).
•The personal exemption rises to $3,900, up from the 2012 exemption of $3,800. However beginning in 2013, the exemption is subject to a phase-out that begins with adjusted gross incomes of $250,000 ($300,000 for married couples filing jointly). It phases out completely at $372,500 ($422,500 for married couples filing jointly.)
•The Alternative Minimum Tax exemption amount for tax year 2013 is $51,900 ($80,800, for married couples filing jointly), set by the American Taxpayer Relief Act of 2012, which indexes future amounts for inflation. The 2012 exemption amount was $50,600 ($78,750 for married couples filing jointly).
•The maximum Earned Income Credit amount is $6,044 for taxpayers filing jointly who have 3 or more qualifying children, up from a total of $5,891 for tax year 2012.
•Estates of decedents who die during 2013 have a basic exclusion amount of $5,250,000, up from a total of $5,120,000 for estates of decedents who died in 2012.
•For tax year 2013, the monthly limitation regarding the aggregate fringe benefit exclusion amount for transit passes and transportation in a commuter highway vehicle is $245, up from $240 for tax year 2012 (the legislation provided a retroactive increase from the $125 limit that had been in place).
Details on these inflation adjustments and others are contained in Revenue Procedure 2013-15, which will be published in Internal Revenue Bulletin 2013-5 on Jan.28, 2013. Other inflation adjusted items were published in October 2012 in Revenue Procedure 2012-41.
IRS Notice 1036
Social security tax witholdings will increase to 6.2% in 2013 increasing the self employment tax for businesses and independent contractors back to 15.3% back to 2010 levels. In addition employees and contractors with income of $200,000 or more will require an additional 0.9% medicare tax witholding.
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