IRS to Refund RTRP Test Fees

The IRS is refunding test fees to those who took the Registered Tax Return Preparer test. The agency plans to mail “RTRP Refund Notification” letters to people who are due a refund before the end of May. Refund checks will be mailed separately, starting approximately June 2, 2015. The IRS cited the recent federal Appeals…

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Past Preparers’ Biggest Goofs This Season

No doubt a good portion of your overwhelming workload over the past tax season involved correcting goofs from clients’ previous tax preparers. Mistakes seem to run the gamut from typos to tangibles, from basics to basis. “Depreciation: It’s crazy how many mistakes I see,” said Enrolled Agent Jeffrey Schneider in Port St. Lucie, Fla. “I’ve…

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Making Citizenship-Based Taxation Reform Easy

Making Citizenship-Based Tax Reform “Easy” Heitor David Pinto wants to “make it easy” for Congress to move from citizenship-based taxation (CBT) to residence-based taxation (RBT). Pinto thinks CBT is “absurd.” And he aims to help Congress change it. Because of CBT’s complexity and because it’s a low priority for Congress, Pinto was concerned Congress might…

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