By:  Isaac M O’Bannon, Managing Editor CPA Practice Advisor While millions of American taxpayers wait for their W-2, 1099 and other important tax documents to arrive in the mail, their thoughts turn to the often-dreaded prospect of filing their 2014 tax returns. With all the annual changes to the tax rules and its complexity, it’s… Read More

At long last, Congress granted a reprieve for most of the expired tax provisions that had remained in limbo this year, but the late-breaking tax relief is only temporary. The new legislation – the Tax Increase Prevention Act of 2014 – restores these tax breaks retroactive to January 1, 2014. However the provisions expire again… Read More

More than half of taxpayers hire a professional when it’s time to file a tax return. Even if you don’t prepare your own Form 1040, you’re still legally responsible for what is on it. A tax return preparer is trusted with your most personal information. They know about your marriage, your income, your children and… Read More

By Kayleigh Kulp Published March 26, 2012 FOXBusiness When trying to find a professional tax preparer, consumers face an alphabet soup of choices. Most people turn to the two well-known groups of licensed tax professionals: certified public accountants (CPA) and enrolled agents (EA). No matter the acronym after their name, the first step in your… Read More

Minimizing your taxes requires a year round effort. The following events will have an impact on your tax liability. In most cases, proper tax planning can minimize any negative tax consequences. Whenever a situation on this list occurs, call your EA.   Buying, selling or exchanging any real property (land or building), including converting your… Read More

Overview of Tax Return Preparer Requirements The chart below provides an overview of the various categories of individuals who may prepare federal tax returns for compensation.   Category PTIN Tax Compliance Check  Background Check IRS Test Continuing Education Practice Rights Enrolled Agents*  Yes  Yes Proposals Pending Yes (Special Enrollment Exam) 72 hours every 3 years… Read More