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The Office of Professional Responsibility (OPR) establishes and enforces Standards of Practice for Tax Professionals like enrolled agents, attorneys, CPAs, and other individuals and groups covered by IRS Circular 230.
Tax Professionals are subject to the following rules of professional conduct:
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Last Updated ( Thursday, 24 January 2008 )
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Congress has now approved a bill calling for a one-year patch for the Alternative Minimum Tax (AMT). The bill will be sent to the President for his approval and he is expected to sign it. If the bill then becomes law approximately 20 million Americans who would have paid about 2,000 in additional taxes under the (AMT) will be spared this tax season.
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Last Updated ( Monday, 28 January 2008 )
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If you have not yet received your 2006 tax refunds, IRS might have failed to deliver your refund check due to delivery problems! IRS is looking for hundreds of taxpayers to give their tax refund and is holding returned checks worth $110 million dollars. All you need to do is update your address to get your refund checks.
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Last Updated ( Thursday, 24 January 2008 )
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Taxpayers who are victims of the Southern California wildfires have until Jan. 31, 2008, to file their tax returns. The extension is for the items due on or after Oct. 21, 2007, when the fires began, and on or before Jan. 31, 2008. This includes the federal withholding tax return, Form 941, normally due Oct. 31, and the estimated tax payment for the fourth quarter, normally due Jan. 15.
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Last Updated ( Thursday, 24 January 2008 )
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Tax Softwares are available in varying complexity and sophistication, from simple programs to calculate and print their tax return to high end tax softwares used by tax professionals with many add on features for tax planning, customer service, integrated banking products and finance service products, etc.
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Last Updated ( Thursday, 24 January 2008 )
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Tax Breaks for Small business to mollify small business owners ?
The Finance Committee unanimously passed a tax relief package which includes credits for small businesses that hire hard-to-employ workers, increased deductions for improving buildings, and measures to help small businesses simplify their bookkeeping,etc. The idea to soften the impact of federal minimum wage increase on small business.
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Last Updated ( Thursday, 24 January 2008 )
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Tax software for individuals are detail oriented and often comes with detailed step by step interview questions in simple plain English. The tax software should be easy to use with out any training or learning from the users side.
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Last Updated ( Thursday, 24 January 2008 )
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You pay many taxes to federal, state and local governments and some of them are deductible as part of your itemized deduction. The deductible taxes are:
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Last Updated ( Thursday, 24 January 2008 )
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National Taxpayer Advocate Nina E. Olson released annual report with the most serious problems encountered by taxpayers and the report lists the alternative minimum tax for individuals (AMT) and the federal tax gap, IRS collection policies and the transparency of IRS as the most serious problems facing taxpayers. They National Taxpayer Advocate is appointed by the Treasury Secretary and is charged with representing taxpayer interests before the IRS and Congress.
The full report describes 21 most serious problems, the IRS’s response, and the National Taxpayer Advocate’s final comments and recommendations. The list of problems are |
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Last Updated ( Thursday, 24 January 2008 )
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