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Circular 230: An Overview

Circular 230 is an important document because it governs the rules of practice before the IRS. Taxpayers should be aware of the provisions of Circular 230.

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IRS Form 1099: Informational Returns – Part Two

Continued from: IRS Form 1099: Informational Returns – Part One IRS Form 1099-K Form 1099-K, Merchant Card and Third Party Network Payments reports those payments made with a credit card or payment card; this includes third party network transactions. The amounts that businesses report are specific to third party settlement organizations and $20,000 or more […]

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IRS Form 1099: Informational Returns – Part One

Information returns are tax documents that businesses are required to file to report certain business transactions. Businesses are required to file these reports to the Internal Revenue Service. The requirement to file information returns is mandated by IRS and related regulations. “Any person, including a corporation, partnership, individual, estate, and trust, who make reportable transactions […]

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Checklist For Choosing a Tax Preparer

I have prepared a list of tips to help you chose a tax preparer and to make sure they are doing the job that you hired them for. – Do check credentials, ask for references, and read online reviews. In the age of the internet, it is increasingly easy to research an individual’s reputation well […]

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How to Choose an IRS Tax Return Preparer – Part Two

In addition, I wanted to discuss IRS tax return preparers that I will identify as “others.” This would include enrolled agents, bookkeepers, and national tax preparation chains. Let us be clear from the outset: I know several of these individuals who are excellent and who I would trust with my own return (if the need […]

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How to Choose an IRS Tax Return Preparer – Part One

Introduction to Choosing a Tax Return Preparer Tax return software, although extremely popular, is often only as smart as its user. I have amended numerous returns for individuals who have made serious errors using tax software. These have ranged from a family member missing out on a $2,000 refund due to sales tax deductions they […]

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Tax Season Survival Tips

Introduction Every tax season, many fear the tax return preparation process. Preparing and filing your taxes can be complicated and costly; not to mention the impending fear of owing money to the government. Tax season should not be this stressful though. With a little advanced planning and by following a few simple tips, you can […]

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