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“If your preparer asks you to sign a blank return, refuses to sign your return as your return preparer, or is charging you a fee based on the size of your refund, consult the IRS’s website and tips to make sure you are not exposing yourself to trouble.” “Tax Goldberg of the Justice Department’s Tax Division. “As
A professional tax return preparer in Texas recently pleaded guilty to “engaging in a multi-year conspiracy to prepare and file false tax returns on behalf of clients and obtaining a fraudulent loan under the Paycheck Protection Program” (“PPP”). The proceeding was held before U.S. Magistrate Judge Jeffrey C.
“Taxpayers must look out for unscrupulous preparers, who often will promise refunds that are too good to be true,” said Deputy Assistant Attorney General David A. Hubbert of the Justice Department’s Tax Division. “If Over the last year, the Tax Division has worked with U.S.
Allegations include stealing identities of accountants, taxpreparers, and taxpayers. On March 7, a federal grand jury in Austin, Texas, returned an indictment charging seven individuals with conspiracy to commit mail and wire fraud and other crimes arising out of their scheme to defraud the IRS using stolen identities.
Wilde’s team analyzed more than 94,000 tax returns of U.S. businesses with at least $10 million in assets that used an external taxpreparer between 2005 and 2016. Wilde’s study, “Who really matters in corporate tax?” Most of the businesses—91%–were private and their data was provided by the IRS. The study found….
We continue to urge taxpayers who need help to reach out to a trusted tax professional, including those who work with recognized national organizations.” The IRS reminds taxpayers to make sure they choose a trusted, respected tax professional for help. For more information, visit Tax Professional Awareness Week.
It’s back to regular IRS deadlines this year, but with a new tool for many low- and moderate-income households: a service that will prepare and file their tax returns online for free. That sort of virtual hand-holding is similar to what you’d get by using commercial taxpreparation software.
According to the IRS, Arizona, California, Massachusetts, and New York have decided to work with the agency to integrate their state taxes into the Direct File pilot program for the 2024 filing season. In addition, the state of Washington agreed to join the integration effort for its application of the Working Families Tax Credit.
This year, the IRS has launched a pilot program dubbed “Direct File” through which Americans can opt to have the IRS prepare their taxes for free (well, except for the billions of taxpayer dollars used to create the program). The IRS wants to eliminate Americans’ reliance on private-sector tax-preparation services.
filed a notice of data breach with the Attorney General of Texas after discovering that an unauthorized party had gained access to confidential information in the companys possession. CPA Firm Ciuni & Panichi Files Official Notice of Data Breach [ JD Supra ] On April 1, 2025, Ciuni & Panichi, Inc.
Bureau of Labor Statistics research shows that a growing economy and an increasingly complex tax and regulatory environment will create strong demand for tax and accounting professionals, including taxpreparers and advisors.
Starting in Pearland, Texas, Bianca set out to create a firm capable of serving a diverse range of clients, from small businesses to high-net-worth individuals and professional athletes. To no ones surprise, TaxBee has grown substantially over the past seven years.
Firms that have adopted and deployed these time saving initiatives have become much more agile, transitioning to that of a value-creation partner whose strategic and operational advice expands beyond routine bookkeeping, taxpreparation, and filing services. But the accounting profession isn’t alone in this evolutionary process.
Eight states do not impose a personal income tax, meaning retirement income from any source remains untaxed. These states include Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington, and Wyoming. States with no tax on Social Security. States with no tax on TSPs.
The following states have no state income taxes, and therefore no state capital gains taxes: Alaska Florida Nevada New Hampshire South Dakota Tennessee Texas Washington Wyoming Among the other 41 states, some are more favorable to capital gains than others.
Hoppa provides tax compliance and planning services to clients in a variety of industries, including private equity, construction, communications and media, real estate and manufacturing and consumer products. Mo Huda (Dallas, Texas, State & Local Tax Services). Jeff Norman (Dallas, Texas, Health Care Consulting Services).
Dallas Attorney and Members of Accounting Firm Charged with Promoting Illegal Tax Shelter [ Department of Justice ]. The superseding indictment alleges that Garza directed clients to use hand-picked CPAs and other tax professionals, including McDonnell, Richardson and Fenton. McDonnell allegedly is also a licensed attorney.
This is the #human glue that fuels our community and I couldn’t be more proud to share the story of one of our Xero ambassadors and long-time partners, Gustavo Suarez, founder and CEO of JPG and his small business client Ramon Soriano, owner of La Calle Tacos , which opened in Houston, Texas in 2016.
There are rich people who have moved to Puerto to avoid taxes and just tons of different YouTubers as well. And there are other states that have no state income taxes such as Florida and Texas just to name a couple. This is probably why there has also been a lot of people moving from California to Texas.
The following states have no state income taxes, and therefore no state capital gains taxes: Alaska Florida Nevada New Hampshire South Dakota Tennessee Texas Washington Wyoming Among the other 41 states, some are more favorable to capital gains than others.
Hawaii also has the second-highest income tax in the country coming in at 11%. That’s 11 times more than other states like F lorida and Texas who virtually have no income tax at all. So with all that said, you might want to stick around to discover some of the other states if you want to pay less in property taxes.
Hawaii also has the second-highest income tax in the country coming in at 11%. That’s 11 times more than other states like F lorida and Texas who virtually have no income tax at all. So with all that said, you might want to stick around to discover some of the other states if you want to pay less in property taxes.
States such as New Hampshire, Tennessee, and Texas ignore S-corporation status and tax them as C-corporations. You will want to check with your CPA or tax consultant to determine if S-Corporation status is for you. Now, if after answering those two questions, you decide to elect to be taxed as an S-Corp, here is how to do it.
The 12 states participating in the Direct File pilot program this filing season are: Arizona California Florida Massachusetts Nevada New Hampshire New York South Dakota Tennessee Texas Washington Wyoming Users can log in to Direct File to start their return and complete it any time before the April filing deadline. million in Texas, 2.8
The IRS said this week that individuals and businesses in 67 Texas counties affected by Hurricane Beryl now have until Feb. 3, 2025, to file various federal individual and business tax returns and make tax payments. The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA).
PRM has a strong oil and gas practice in Texas and Louisiana as well as a robust high net worth tax practice, primarily focused on health care. Individuals also rely on CPAs for taxpreparation, financial planning, and strategic advice. PRM’s culture and values closely align with ours, making this an ideal fit.”.
If you have a legit reason for not being able to file taxes on time then you can request relief. natural disasters or similar hazard events (like what’s happened in Texas). inability to obtain relevant tax records. incapacity or unavoidable absence of tax payment or member of an immediate family. serious illness.
In the IRS’s most recent list , it specifically warned taxpayers “to beware of promoters peddling bogus tax schemes aimed at reducing taxes or avoiding them altogether.” An alphabetical listing of persons enjoined from preparing returns and promoting tax schemes can be found on this page.
A hasty decision in choosing a fake taxpreparer can lead to stolen information, an incomplete tax return and a bigger headache than if youd simply done your taxes yourself, Cafferelli said. Anyone still looking for a preparer in February is making a hasty decision. The national finals were held Jan.
After a frantic search, the Trump Organization settled on the firm of Whitley Penn, LLP (“Whitley Penn”) based out of Fort Worth, Texas to perform audit services, compilation services and taxpreparation services, including the preparation of an SOFC for the year 2021. Let’s see what her beef is.
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