Podcasts about ptin

The holidays are behind us; you know what that means—it's tax season! But before you start gathering your W-2s and receipts, there's an important question: Do you know who will prepare your taxes this year?With a nationwide shortage of Certified Public Accountants (CPAs) and tax professionals, waiting too long to find a preparer could leave you scrambling—and vulnerable to scams. Here's how to protect yourself and find a trusted tax preparer.Who Can Prepare Your Taxes?When hiring a tax professional, your preparer will likely fall into one of three categories:Certified Public Accountant (CPA): These professionals undergo rigorous education, exams, and licensing requirements. Many specialize in tax preparation and can also provide broader financial guidance. Enrolled Agent (EA): Licensed by the IRS, EAs are tax experts who can prepare and file returns, represent clients before the IRS, and provide tax planning services. Tax Attorney: These legal professionals specialize in tax law and are particularly useful for complex tax situations, audits, or disputes.Each of these professionals is highly qualified—but the problem is there aren't enough of them.There is a growing shortage of CPAs and tax professionals, mainly because fewer young people are entering the field. Some firms are even hiring high school interns at $22 an hour to recruit future CPAs.What does this mean for you?Longer wait times to book a tax preparerHigher fees due to increased demandGreater risk of falling into the hands of fraudulent preparersWhen people are desperate to file their returns, they can become easy targets for scammers who fake credentials or engage in tax fraud.How to Avoid Tax Scams and Find a Qualified PreparerTo protect yourself, follow these IRS-recommended steps when choosing a tax preparer:1. Choose a Year-Round Tax PreparerA reputable preparer should be available beyond tax season. You don't want your tax preparer to disappear if you get audited.2. Verify Their IRS CredentialsAsk for the IRS Preparer Tax Identification Number (PTIN). All paid tax return preparers must register with the IRS and enter their PTIN on every return they file.Check their status using the IRS Directory of Federal Tax Return Preparers at IRS.gov.3. Look for Professional CredentialsAsk if the preparer holds a credential such as:CPA (Check with the State Board of Accountancy)Enrolled Agent (Verify at IRS.gov under "Verify Enrolled Agent Status")Tax Attorney (Confirm with their State Bar Association)Additionally, inquire about continuing education—since tax laws change frequently, professionals should stay current.4. Be Cautious About FeesBeware of tax preparers who:Charge fees based on a percentage of your refundClaim they can get you a larger refund than competitorsA legitimate preparer should charge a flat or hourly rate based on the complexity of your return.5. Verify IRS E-File CapabilityMost tax preparers handling more than 10 clients must file electronically. If your preparer refuses to e-file, that's a red flag.6. Ensure Proper DocumentationA trustworthy tax preparer will ask for the following:Your W-2 and 1099 forms (not just a pay stub)Records of deductions and creditsIf a preparer doesn't ask for supporting documents, walk away. The IRS requires proper documentation to verify your return.7. Understand Representation RulesOnly CPAs, Enrolled Agents, and tax attorneys can represent you before the IRS if you're audited.Non-credentialed tax preparers—including your math-savvy cousin Bill—cannot represent you in an audit.8. Never Sign a Blank or Incomplete Tax ReturnPlease review your return carefully before signing. Ensure all information is accurate, and ask questions if anything appears incorrect.9. Your Refund Should Go to You—Not the PreparerCheck the routing and account number on your tax return to ensure your refund is deposited into your own account, not your preparer's.Looking for a Faith-Based Financial Professional?If you want to work with a tax professional who aligns with biblical financial principles, consider finding a CPA, Enrolled Agent, or tax attorney with the Certified Kingdom Advisor (CKA®) designation.To find a trusted, faith-based financial professional, visit FaithFi.com and click “Find a Professional.”With tax season here, choosing a reputable, qualified tax preparer is more important than ever. Don't wait until the last minute—start your search today to avoid scams and ensure your taxes are filed accurately and ethically.On Today's Program, Rob Answers Listener Questions:As I turn 70 and a half, is it advantageous for me to start doing my charitable giving from my IRA? Or should I wait until 73, when I have to do the required minimal distribution (RMD)?I have $10,000 in a savings account with my local bank, but I only earn about 10 cents in monthly interest. Since I've never invested before, I'm interested in investing that money elsewhere to create some extra available money. What would you suggest?I ran a landscaping company into the ground, but I've now rededicated my life to Christ and started a new handyman business. I need help managing the money in my company and being a better steward of the resources God has entrusted me with. I'm looking for guidance on the best direction to take.Considering Trump is now in his second term, would it be a good time for me to sell my house and buy another home? Should I wait? I'm thinking about the potential impact on prices and interest rates.Resources Mentioned:Faithful Steward: FaithFi's New Quarterly PublicationBankrateChristian Community Credit Union (CCCU)Business By The Book: Complete Guide of Biblical Principles for the Workplace by Larry BurkettLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.

Pelvic Floor Health: An In-Depth Talk with Dr. Angela LeBlanc, DPT, PTIn this episode, Jacqueline welcomes her cousin Angela, a pelvic floor physical therapist, to discuss the crucial topic of pelvic floor health. Angela explains how the pelvic floor functions, debunks common myths, and highlights the importance of individualized care. They also delve into various conditions that pelvic floor therapy can help with, such as constipation, incontinence, and pain during pregnancy and postpartum. Angela shares insights on the interconnectedness of the body, the impact of stress and trauma on pelvic health, and practical advice for those considering pelvic floor therapy. This episode is packed with valuable information and tips to help listeners better understand and care for their pelvic floor health!GET CONNECTED!Motherhood Intended Podcast & Community:Motherhood Intended websiteJoin our FREE Motherhood Intended CommunityFollow @motherhood_intended on InstagramDownload Jacqueline's FREE Habit & Goal TrackerLeave a review for the podcastApply to be a guest on the show!Well + Core Physical Therapy:Follow @wellcorept on TikTok & InstagramWell + Core websiteLearn more about Dr. Angela & Mercier TherapyEPISODE BREAKDOWN:02:59 Introducing Today's Guest: Angela LeBlanc03:48 Understanding Pelvic Floor Therapy05:55 Angela's Journey and Expertise09:37 Common Issues and Myths About Pelvic Floor15:57 Pelvic Floor Therapy During Pregnancy27:07 Postpartum Pelvic Floor Importance29:09 Common Postpartum Issues and Misconceptions32:13 Mind-Body Connection and Emotional Health35:41 Breathwork and Core Engagement Techniques38:14 Personalized Pelvic Floor Therapy41:00 Holistic Approach to Pelvic Health45:38 Evaluation and First Appointment InsightsSend us a Text Message with questions, suggestions, or to just say hello!Eye-Opening Moments PodcastEye-Opening Moments are stories of adversity, encounters, and perspectives. They are...Listen on: Apple Podcasts SpotifySupport the showIf you're interested in helping give the absolute greatest gift to deserving intended parents, learn more about becoming a surrogate (and earn up to $650 just for taking the first few simple steps!): share.conceiveabilities.com/hello12

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 3003: Kelley Long shares practical advice for navigating the complexities of hiring a tax professional. Whether you're a self-employed entrepreneur or have straightforward tax needs, she clarifies the roles of tax preparers, EAs, and CPAs, and offers actionable tips to ensure you find the right expert to save time, money, and stress. Read along with the original article(s) here: https://www.financialfinesse.com/2017/04/26/how-to-find-a-good-tax-preparer/ Quotes to ponder: "Pretty much anyone can call themselves a tax preparer, although the IRS has started to regulate that by requiring people who accept payment for preparing taxes to have a PTIN." "If time is money, then the money we pay our accountant to prepare and file our taxes is money well spent." "The sad fact is that there aren't a lot of CPAs out there that actually want to do income taxes for regular families who just have jobs, kids, a house, and a few charitable donations." Episode references: Illinois CPA Society: https://www.icpas.org National Association of Enrolled Agents: https://www.naea.org Learn more about your ad choices. Visit megaphone.fm/adchoices

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 3003: Kelley Long shares practical advice for navigating the complexities of hiring a tax professional. Whether you're a self-employed entrepreneur or have straightforward tax needs, she clarifies the roles of tax preparers, EAs, and CPAs, and offers actionable tips to ensure you find the right expert to save time, money, and stress. Read along with the original article(s) here: https://www.financialfinesse.com/2017/04/26/how-to-find-a-good-tax-preparer/ Quotes to ponder: "Pretty much anyone can call themselves a tax preparer, although the IRS has started to regulate that by requiring people who accept payment for preparing taxes to have a PTIN." "If time is money, then the money we pay our accountant to prepare and file our taxes is money well spent." "The sad fact is that there aren't a lot of CPAs out there that actually want to do income taxes for regular families who just have jobs, kids, a house, and a few charitable donations." Episode references: Illinois CPA Society: https://www.icpas.org National Association of Enrolled Agents: https://www.naea.org Learn more about your ad choices. Visit megaphone.fm/adchoices

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 3003: Kelley Long shares practical advice for navigating the complexities of hiring a tax professional. Whether you're a self-employed entrepreneur or have straightforward tax needs, she clarifies the roles of tax preparers, EAs, and CPAs, and offers actionable tips to ensure you find the right expert to save time, money, and stress. Read along with the original article(s) here: https://www.financialfinesse.com/2017/04/26/how-to-find-a-good-tax-preparer/ Quotes to ponder: "Pretty much anyone can call themselves a tax preparer, although the IRS has started to regulate that by requiring people who accept payment for preparing taxes to have a PTIN." "If time is money, then the money we pay our accountant to prepare and file our taxes is money well spent." "The sad fact is that there aren't a lot of CPAs out there that actually want to do income taxes for regular families who just have jobs, kids, a house, and a few charitable donations." Episode references: Illinois CPA Society: https://www.icpas.org National Association of Enrolled Agents: https://www.naea.org Learn more about your ad choices. Visit megaphone.fm/adchoices

IRS opens up PTIN registration, staking returns to a Tennessee District Court and more.

This week we look at: S corporation finds multiple ways to terminate its S status, asks IRS forgiveness which is granted IRS rules condoms are medical expenses for tax purposes IRS adds items to list of preventive care an HDHP can pay without the insured having met the annual deductible PTIN registration opens for 2025 Staking income challenge returns to court

Bridging the Gap Conference 2024 is July 22–24, 2024, is Rosemont, Illinois, and on Episode 160 of The Unique CPA, Randy interviews Andrew Lassise, founder of Tech4Accountants, now a part of Rightworks, a platinum sponsor of the conference. Andrew and Rightworks specialize in cybersecurity and compliance in accounting. With their expertise, they help firms establish WISPs, Written Information Security Plans, aid them in navigating the FTC Safeguards Rule, educate on cybersecurity best practices, and more. WISPs are not optional for almost anyone with a PTIN, so tune in to learn what you need to do to safeguard yourself, and your clients. Get the full show notes and more resources at TheUniqueCPA.com

Forget the boring lectures and dry textbooks. Complete Tax & Training Software is offering hands-on business setup assistance, including obtaining an EIN and PTIN for anyone interested in starting their own tax prep and bookkeeping services.You can learn more at https://www.completetaxtrainingsoftware.com Complete Tax Training Software City: Monroe Address: 1011 N 9th Street Website: https://www.completetaxtrainingsoftware.com/ Phone: +1 318 538 4761 Email: sales@completetaxtrainingsoftware.com

Are you ready to pick the perfect tax professional and avoid the pitfalls of problematic preparers? Tune in to this enlightening episode of Money Talk With Tiff as Tiffany Grant welcomes back the knowledgeable Camari Ellis for a deep dive into the red flags of tax preparation.Camari, an Enrolled Agent, shares invaluable insights on distinguishing between various tax preparers, such as CPAs, EAs, attorneys, and the unenrolled. He emphasizes the significance of never surrendering your original tax documents and the importance of ensuring your tax preparer includes their PTIN on your return to avoid becoming ensnared in their potential audits.Discover why bigger refunds aren't always better and how choosing a tax preparer who can't answer your questions can lead to trouble. Camari and Tiffany discuss why an informed client is the best client and how to foster a proactive relationship with your tax professional for strategic planning all year round.Don't let the allure of a large refund or the convenience of a back-of-the-gas-station tax service lead you astray. Listen to this episode and arm yourself with the knowledge to select a tax preparer who is above board, knowledgeable, and invested in your financial well-being.Share this episode to spread the word and help others stay on the right side of the IRS!About Our GuestCamari Ellis is a Tax Advisor, with over 30 years of experience in the Financial Services & Tax Industry. He is a Black Wealth Advocate. He graduated from Temple University, majoring in Finance, and loves everything related to business, the stock market, and social media.Connect with CamariEmail: camari@phillytaxteam.comBook a meeting: https://bookme.name/CamariEllis/consultationTwitter (X): @thefinancerebelInstagram: @thefinancerebelYouTube: https://www.youtube.com/@TheFinanceRebelConnect with TiffanyWebsite: https://moneytalkwitht.comFacebook: Money Talk With Tiff Twitter: @moneytalkwitht Instagram: @moneytalkwithtLinkedIn: Tiffany Grant YouTube: Money Talk With Tiff Channel Pinterest: Money Talk With TiffAdditional Links & ResourcesInternal Revenue Service | An official website of the United States governmentSupport this PodcastCopyright 2023 Money Talk With Tiff

This week we look at PTIN renewals are now open for 2024 IRS announces program to allow for withdraw of ERC claims Actor's estate loses in attempt to claim he had validly rolled over a non-traditional investment held in his IRA

Blake and David dig into the use of AI agents in solving problems, emphasizing the effectiveness of assigning different roles to the agents and having them interact with each other to reach satisfactory results. They also discuss the latest accounting news, including the recent arrest of an IRS contractor, the IRS slashing the PTIN fee, ongoing trials, and cyber-attacks.SponsorsRelay - https://cloudaccountingpodcast.promo/relayKeeper - https://cloudaccountingpodcast.promo/keeperAccountests - https://cloudaccountingpodcast.promo/accountestsChapters (00:47) - Don Jr. explains GAAP (04:07) - Stories we'll cover this week (06:13) - WSJ article on why no one is going into accounting (10:30) - New Illinois CPA Society survey (12:42) - The IRS is watching people who resold Taylor Swift tickets (14:11) - Chick-fil-A is testing out robot servers and what accountants can learn in what customers want & expect in restaurants (18:39) - Zoom adds AI companion features (23:58) - FedNow hits milestone (26:07) - Listener mail (34:15) - QuickBooks offers a $50/month assisted bookkeeping service (40:33) - Listener mail: Should I change majors from accounting? (43:17) - FEMA and WGU are alternative ways to earn 150 credits (46:33) - Microsoft using AI to help AI (51:00) - Former IRS contractor charged with leaking billionaire tax filings (55:03) - Trump blaming his former Mazars accountant in fraud trial (59:36) - CPA Canada vs CPA Quebec and CPA Montreal updates (01:01:53) - MGM cyber attack follow up (01:04:16) - WSJ reports Binance is in trouble (01:08:25) - Wrap up and how to reach us  Show NotesChick-fil-A Reportedly Tests Robot Servers Amid Diner Concerns Around Automationhttps://www.pymnts.com/restaurant-technology/2023/chick-fil-a-tests-robot-servers-amid-diner-concerns-around-automation/ AICPA Endorses Key Legislation Recognizing the Link Between ...  https://www.prnewswire.com/news-releases/aicpa-endorses-key-legislation-recognizing-the-link-between-accounting-and-stem-301941029.html Why No One's Going Into Accounting - WSJ           https://www.wsj.com/lifestyle/careers/accounting-salary-cpa-shortage-dec2caa2 IRS slashes PTIN fees       https://www.accountingtoday.com/news/irs-slashes-ptin-fees New National Research on CPA Pipeline Challenges Underway      https://www.cpapracticeadvisor.com/2023/10/05/new-national-research-on-cpa-pipeline-challenges-underway/95453/ IRS contractor charged in leak of billionaire taxpayer infohttps://www.accountingtoday.com/news/irs-contractor-charged-in-leak-of-billionaire-taxpayer-info-to-news-outlets CPA Standoff: Financial transparency a key issue in national ...      https://www.canadian-accountant.com/content/profession/cpa-standoff-financial-transparency-dispute Anthony's Coal Fired Pizza and Wings removes AI ordering platform           https://www.pizzamarketplace.com/articles/anthonys-coal-fired-pizza-and-wings-removes-ai-ordering-platform/ FedNow Service Surpasses 100 Participants Since July Launch       https://www.pymnts.com/news/faster-payments/2023/fednow-service-surpasses-100-participants-since-july-launch/ 2024 Public Accounting Starting Salary Numbers Are In   https://www.goingconcern.com/2024-public-accounting-starting-salary-numbers-are-in/ Clorox Experiences Significant Financial Loss Stemming From Recent Cyber Attack               https://blog.knowbe4.com/clorox-cyber-attack-financial-loss CPA Pipeline Research Survey      https://intraprise.qualtrics.com/jfe/form/SV_cUSqP1Kalfh58ZE?Source=PRMK 2024 Salary Guide | Robert Half https://www.roberthalf.com/us/en/insights/salary-guide CPA Standoff: Unique regulatory status of CPA Quebec complicates accounting rift              https://www.canadian-accountant.com/content/profession/cpa-standoff-ontario-governance-dispute CPA standoff: Ontario government sticks to sidelines in governance dispute           https://www.canadian-accountant.com/content/profession/cpa-standoff-ontario-governance-dispute Message from Jerilyn Dressler re: accounting profs lacking real world experience  https://mail.google.com/mail/u/0/#inbox/FMfcgzGtxTBWVtqNtvTshjnDnxjTvHJM Trump business fraud trial continues with accountant testimony on 4th day | PBS NewsHour         https://www.pbs.org/newshour/amp/politics/trump-business-fraud-trial-continues-with-accountant-testimony-on-4th-day MGM Resorts Refused to Pay Ransom in Cyberattack on Casinos - WSJ     https://www.wsj.com/tech/cybersecurity/mgm-resorts-refused-to-pay-ransom-in-cyberattack-on-casinos-3a53fa6d?st=36ug7ecd0g4b0jw&reflink=article_copyURL_share Why No One's Going Into Accounting - WSJ           https://www.wsj.com/lifestyle/careers/accounting-salary-cpa-shortage-dec2caa2?st=oefhxkj9cccegz7&reflink=article_copyURL_share New National Research on CPA Pipeline Challenges Underway - CPA Practice Advisor          https://www.cpapracticeadvisor.com/2023/10/05/new-national-research-on-cpa-pipeline-challenges-underway/95453/ Not having a House Speaker is threatening tax and other key areas | Accounting Today     https://www.accountingtoday.com/articles/not-having-a-house-speaker-is-threatening-tax-and-other-key-areas Zoom AI Companion       https://click.zoom.us/e/84442/ign-aicompanionpaid-zcid-13740/c57lg8/5011214560?h=3QFIwWrjLnzoizu3UjHPldpZxIIke3dKP8BHtKL9QSo WATCH: Clip of Don Jr.'s deposition in NY civil fraud case.                https://x.com/thebeatwithari/status/1708983890600198372?s=12 AutoGen - Microsoft steps into the AI AGENTS arena - YouTube    https://www.youtube.com/watch?v=zdcCD--IieY Binance, the World's Biggest Crypto Firm, Is Melting Down - WSJ https://www.wsj.com/finance/currencies/the-worlds-biggest-crypto-firm-is-melting-down-338b8e17 LIVE Assisted Bookkeeping for $50/month            https://x.com/love2travel/status/1704553402393403648?s=12 If You Resold Taylor Swift Tickets, the IRS Is Watching       https://gizmodo.com/irs-begins-taxing-concert-ticket-resale-taylor-swift-1850865265 Need CPE? Subscribe to the Earmark Accounting Podcast: https://podcast.earmarkcpe.comGet CPE for listening to podcasts with Earmark CPE: https://earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribe Apple Podcasts: http://cloudacctpod.link/ApplePodcasts YouTube: https://www.youtube.com/@TheAccountingPodcast Spotify: http://cloudacctpod.link/Spotify Podchaser: http://cloudacctpod.link/podchaser Stitcher: http://cloudacctpod.link/Stitcher Overcast: http://cloudacctpod.link/Overcast Classifieds Forwardly - https://www.forwardly.com/Royalwise - https://royalwise.com/FutureFirm - https://www.futurefirmaccelerate.com/capClassifiedsWant to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page

https://vimeo.com/869903918?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2023/9/30/2023-09-30-limited-delay-in-some-cta-boi-initial-report-filing-dates   This week we look at: IRS reduces PTIN fees substantially Wash sale rules do not apply to losses on disposition of money market funds IRS highlights new capabilities added to TaxPro accounts Employers can set up leave-based donation programs for 2023 Hawaii wildfire relief FinCEN grants 60 additional days for entities created in 2024 to file initial reports

FinCEN proposes granting 60 additional days for entities formed in 2024 to file initial BOI reports, IRS reduces PTIN fees and more

This week we look at: IRS reduces PTIN fees substantially Wash sale rules do not apply to losses on disposition of money market funds IRS highlights new capabilities added to TaxPro accounts Employers can set up leave-based donation programs for 2023 Hawaii wildfire relief FinCEN grants 60 additional days for entities created in 2024 to file initial reports

On this episode of the Garlic Marketing Show, Michael Rosbrook, a direct response marketing expert, shares his insights on successful marketing strategies in this YouTube video. Michael emphasizes the importance of optimizing a Google Business Profile, as well as direct mail based on the IRS's PTIN database every month and the importance of teams answering the phone quickly and following up consistently. He grew his successful, multi-million dollar tax resolution practice by constantly marketing through Facebook and YouTube ads, direct mail, and content marketing. Michael's strategy to acquire new clients was to go negative in spending if necessary, as long as he knew the lifetime value of each client and their ascension ladder. Discover the importance of having an understanding of cost per lead, cost per acquisition, and lifetime value, never taking your foot off the gas pedal, utilizing direct mail (3 times), optimizing referral sources, and learning the business of tax resolution.What You'll Learn:Consistent Marketing Secrets for a Multi-Million Dollar Tax Resolution PracticeDirect Response Expert Reveals Power of Personality in MarketingUnlock Marketing Success with Proven Google Profile & Direct Mail TipsMaximizing Lifetime Value: Proven Strategies for Client AcquisitionMarketing Mastery: Key Learnings on Cost per Lead, Acquisition, and Lifetime ValueConnect with Michael:YouTubeLinkedInRoz StrategiesTax Resolution Success SummitResources:Connect with IanDiscover where to use your customer stories now!Download the Client JourneySupercharge your marketing and grow your business with video case stories today!Book a Discovery Call Today with Our ExpertsSubscribe to the YouTube Channel Hosted on Acast. See acast.com/privacy for more information.

Scam Squad Guest, Dr Judy Christman Yates, DPA, Criminologist discusses IRS scams to avoid and the FTC Top Scams of 2022 1. Top Scams of 2022, https://consumer.ftc.gov/consumer-alerts/2023/02/top- scams-2022?utm_source=govdelivery, 2/23/2023 by Federal Trade Commission, Andrew Rayo, Consumer Education Specialist. “The latest FTC data book says people reported losing $8.8 billion to scams. • Investment scams were huge, with reported losses of $3.8 billion. That's more than people lost to any other scam, and more than double the loss reported in 2021. • Impersonator scams were still the most-reported scam, with reported losses of $2.6 billion. The difference this year? Higher losses to business imposters: 2022 losses were $660 million, compared to $453 million in 2021. • If people paid a scammer, the biggest reported losses were through bank transfers ($1.5 billion reported lost to scams) and cryptocurrency ($1.4 billion reported lost). • Younger adults (ages 20-29) reported losing money more often than older adults (ages 70-79). But when older adults did lose money, they lost more than anyone else.” 2 IRS [Internal Revenue Service] scams to avoid this year, https:// www.capitalone.com/learn-grow/privacy-security/avoid-tax-scams/, 2/15/2023, Capital One. Scam Squad Guest, Dr Judy Christman Yates, DPA, Criminologist discusses IRS scams to avoid and the FTC Top Scams of 2022 1. Top Scams of 2022, https://consumer.ftc.gov/consumer-alerts/2023/02/top- scams-2022?utm_source=govdelivery, 2/23/2023 by Federal Trade Commission, Andrew Rayo, Consumer Education Specialist. “The latest FTC data book says people reported losing $8.8 billion to scams. • Investment scams were huge, with reported losses of $3.8 billion. That's more than people lost to any other scam, and more than double the loss reported in 2021. • Impersonator scams were still the most-reported scam, with reported losses of $2.6 billion. The difference this year? Higher losses to business imposters: 2022 losses were $660 million, compared to $453 million in 2021. • If people paid a scammer, the biggest reported losses were through bank transfers ($1.5 billion reported lost to scams) and cryptocurrency ($1.4 billion reported lost). • Younger adults (ages 20-29) reported losing money more often than older adults (ages 70-79). But when older adults did lose money, they lost more than anyone else.” 2 IRS [Internal Revenue Service] scams to avoid this year, https:// www.capitalone.com/learn-grow/privacy-security/avoid-tax-scams/, 2/15/2023, Capital One. “According to the IRS, it doesn't “initiate contact with taxpayers by email, text messages or social media channels to request personal or financial information. Here are some common scams to watch out for, according to the IRS: IRS impersonation scams • Email phishing: Known as phishing, scammers may ask for personal or financial information from a taxpayer through unsolicited emails. • IRS scam calls: phishing—scammer makes a call & impersonates IRS. • IRS text messages: Another form of phishing is smishing. A taxpayer may receive a text message from a fraudulent number claiming to be the IRS. Other Tax-related scams • identity theft: uses a taxpayer's Social Security number (SSN), to file a tax return in a taxpayer's name. • Abusive arrangements: Scammers may reach out and tell filers they can earn tax savings if they take part in a complex scheme or arrangement. • Tax debt settlement companies: Dishonest tax companies might target individuals having trouble paying their taxes. • Ghost tax preparers: Sometimes scammers pose as tax preparers and offer to help with tax returns. But they won't sign the return or include a preparer tax identification number (PTIN), which are both required by law. • Spear phishing: This type of attack is when scammers send an email trying to steal information—like software preparation credentials—from tax professionals.

Dr. Friday 0:00 Good day. I'm Dr. Friday, President of Dr. Friday's Tax and Financial firm. To get more info go to www.drfriday.com. This is a one-minute moment. Dr. Friday 0:12 The IRS has put out a tax scam. Don't be a victim of ghost tax return preparers. That's right. My opinion is that any preparer that prepares a tax return that does not sign it does not have a PTIN, does not have an address or an EIN number on that tax return, they are not, and yet you're paying them. Those are not legit tax preparers. Hey, if your brother is preparing your tax return, it's considered self-employed that's within the family. But if you're paying somebody that, in my opinion, is ghosty, meaning they're preparing it, but they're not signing it. You need to make sure someone's going to stand behind that work. Go to drfriday.com. Set up your tax appointment today. Announcer 0:51 You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm on 99.7 WTN.

Episode 16:  In this episode, Timalyn shares her perspective on the question, “How to Choose a Tax Professional.”  Entrusting someone to help you with taxes is an important decision you should make with careful consideration.  This is even more vital when you have back tax issues.  Timalyn begins with 2 disclaimers.  First, she hasn't been able to get to the podcast studio, so you may notice a slight difference in the audio quality.  Second, Timalyn is recording this particular episode specifically for you; not for her own benefit. Timalyn no longer accepts tax preparation clients. This episode aligns with her mission to fill the tax literacy gap, one taxpayer at a time. Taxes are getting more complicated.  Your family and friends may also be able to benefit from the objective information, so please share this episode with them.  In the meantime, make sure you take notes while listening to this episode. Choosing a Tax Professional Begin looking for a new tax professional now.  Don't wait until January.  Now is the perfect time to begin the search and decision process.  Remember, really good tax professionals are going to be extremely busy working with their current clients.  It may be difficult for them to schedule time to discuss your specific situation once tax season begins. Make Sure the Tax Professional You Consider has a PTIN Beware of scam artists and those who may be less than prepared to handle your taxes.  You want to verify that your tax professional is able to sign the returns they prepare for you.  Timalyn explains that a PTIN is a Preparer Tax Identification Number.  The IRS requires anyone preparing tax returns, for compensation, to have a PTIN.  You can verify the professional you are looking to work with has a PTIN by looking in the PTIN directory. The PTIN gives the IRS the ability to track a lot of information about the person preparing your taxes.  If they are doing so without a PTIN, consider it a red flag.  The IRS has a page on its website to help you.  The Directory of Federal Tax Preparers with Credentials and Select Qualifications is a reliable resource. IRS Credentials The IRS issues various credentials for those who prepare Federal tax returns.  Here is a general overview of those credentials: Enrolled Agent (“EA”) – The highest license given by the IRS. Timalyn provided an in-depth overview of this credential in Episode 1.  Enrolled agents, such as Timalyn, are authorized to do tax planning, tax preparation, advising, and representation.  As an EA, she is authorized to represent taxpayers before the IRS in all 50 states.  There are only 3 credentials that are allowed to represent taxpayers before the IRS and they are EAs, tax attorneys, and CPAs.  The enrolled agent focuses exclusively on tax.  Enrolled agents are required to complete a certain amount of continuing education credits each year, including credits on ethics and other topics. Certified Public Accountant (“CPA”) – The CPA is licensed through the state. Interestingly a CPA may not actually do taxes.  Accounting involves a broad spectrum of specialties.  For this reason, before you hire a CPA, ask if they specialize in doing taxes.  CPAs are required to complete continuing professional education credits, annually. Tax Attorney – Some attorneys do actually do taxes. However, many tax attorneys typically represent clients when criminal charges with tax issues are involved.  If they specialize in tax representation, a tax attorney can represent taxpayers before the IRS.  Tax attorneys are required to complete continuing legal education credits, each year. Annual Filing Season Program – This credential is for tax professionals who do not have one of the above 3 credentials, but still want to prove they are qualified. They take continuing education regarding tax law updates and ethics. They have limited representation rights.  Timalyn also discusses the importance of choosing a tax professional with experience.  She explains that it's not always about the credentials.  Experience is a valuable teacher.  This is especially important when you consider the niche he/she has developed.  This could be a significant benefit for your specific situation. Another resource Timalyn shares is CPAVerify.org.  This free, online resource is a quick way to confirm the credentials of a CPA. Keep in mind, just because they are a CPA does not mean they have a PTIN and are authorized to prepare tax returns. The Ripple Effect of Not Doing Your Research Yes, Timalyn has built a solid business focused on providing tax relief for people who owe back taxes to the IRS.  However, she doesn't want you to become her client, because you mistakenly hired someone who wasn't qualified to prepare your tax returns.  Tax season will be here before you know it. Start researching tax professionals to work with for the next tax season.  Make Sure Your Preparer is E-Filing This is another red flag.  If a tax professional is submitting a certain number of tax returns, the IRS requires them to e-file those returns.  Tax returns that are paper filed are still taking much too long to process, especially while we are still dealing with the impacts of the pandemic.  E-filing is simply a more efficient way to get your returns filed and processed. If your tax preparer is urging you to mail in your returns, start asking questions.  You'll want to know the specific reasons for this advice. Timalyn comments that when a tax preparer makes you mail in your returns, it may be to enable the fraudulent preparer to disappear, before the problems are detected.  Please understand that there may be valid reasons, but in this day and age, e-filing is the preferred method.  If you owe taxes, it may not be because your tax preparer did something wrong.  You may need to adjust your W-4 withholdings. You can find out how to do that by checking out Tax Tips with Timalyn or watching the YouTube video for couples married filing jointly. When you e-file your returns, you'll be notified that your return was either accepted or rejected.  You'll know what issue or issues need to be resolved.  You'll be able to begin addressing those issues with your tax professional. As we conclude Episode 16, we encourage you to connect with Timalyn on social media. You'll be able to subscribe to this podcast on Spotify, Apple Podcasts, Google Podcasts, and many other podcast platforms.   Remember, Timalyn Bowens is America's Favorite EA and she's here to fill the tax literacy gap, one taxpayer at a time.  Thanks for listening to today's episode. For more information about tax relief options, visit https://www.americasfavoriteea.com/ . If you have any feedback, or suggestions for an upcoming episode topic, please submit them here:  https://www.americasfavoriteea.com/contact.   Disclaimer:  This podcast is for informational and educational purposes only.  It provides a framework and possible solutions for solving your tax problems, but it is not legally binding.  Please consult your tax professional regarding your specific tax situation.  

https://vimeo.com/765424882 https://www.currentfederaltaxdevelopments.com/podcasts/2022/10/30/2022-10-31-partnership-schedule-k-2-draft-instructions-issued   This week we look at: It's PTIN renewal time again and the IRS has released a news release announcing the fact IRS publishes draft 2022 Form 1065 Schedules K-2 and K-3 instructions with revised exceptions to filing Schedules K-2 and K-3

The IRS opens up 2023 PTIN renewals and releases draft partnership K-2 and K-3 instructions with revised exceptions to filing.

This week we look at: It's PTIN renewal time again and the IRS has released a news release announcing the fact IRS publishes draft 2022 Form 1065 Schedules K-2 and K-3 instructions with revised exceptions to filing Schedules K-2 and K-3 Copyright Kaplan, Inc.

According to the FBI, cybercrime has increased by 300% since the start of the COVID-19 pandemic. Now, more crucial than ever, tax practitioners need to remain vigilant and one step ahead of cybercriminals in the everchanging world of data security. Listen in to a frank discussion on cybersecurity with April Walker, CPA, CGMA, Lead Manager — AICPA Tax Section and special guest Byron Shinn, CPA, Partner — Carr, Riggs & Ingram, LLC, on this episode of The Tax Section Odyssey. What you'll learn in this episode Is a cyberattack a real threat? (0.43) What does a data security plan look like (3.15) How often should you review a data security plan (8.16) Cybersecurity insurance considerations (10.14) Attorney recommendations to help in the cybersecurity arena (13.55) Real-life examples of CPA firm concerns and data security plan insecurities (16.29) The why and how of independently testing network security (16.47) Example of encryption hack; ransomware and cryptocurrency (18.51) Lack of cyberattack reporting and high-profile cases (20.40) Important takeaways for cybersecurity (22.31) A page from Byron's travel journal (24.38) AICPA resources Cybersecurity resources — Access additional resources on our Cybersecurity Resource Center to help organizations and businesses, including CPA firms, assess risks. Best Practices for Keeping Client Data Secure — Learn about proactive data security tips for practitioners to implement to keep client data protected from identity theft. Gramm-Leach-Bliley Act Information Security Plan Template — The Gramm-Leach-Bliley Act requires financial institutions to have a written information security plan. Use this template to document your firm's policies. Identity Theft Checklist — Provide this checklist to clients to help them appropriately and efficiently address identity theft issues. Letter to Advise Client on Tax-Related Identity Theft — Notify a client of a potential tax-related identity theft and/or outline the steps that can be taken to address the issue. Letter to Client to Protect Against Tax-Related Identity Theft — Help clients take steps to secure their personal information and prevent identity theft. Tax Identity Theft Toolkit — CPA tax practitioners need to combat tax-related identity theft daily as it has become pervasive globally. Use this toolkit to tackle tax identity theft issues with your clients. Other resources Get An Identity Protection PIN (IP PIN) — An IP PIN is a six-digit number that prevents someone else from filing a tax return using your Social Security number or Individual Taxpayer Identification Number. PTIN Requirements for Tax Return Preparers — Anyone who prepares or assists in preparing federal tax returns for compensation must have a valid 2022 PTIN before preparing returns. Publication 1345, Handbook for Authorized IRS e-file Providers of Individual Income Tax Returns – This guide addresses the rules and requirements for participation in IRS e-file by authorized IRS e-file providers filing individual income tax returns and related forms and schedules. Publication 4557, Safeguarding Taxpayer Data — This guide seeks to help tax professionals to understand basic security steps and how to take them as well as recognize the signs of data theft, how to report data theft and understand and comply with the FTC Safeguards Rule. Tax Preparer Tips for Hiring a Cybersecurity Professional — The IRS provides tips for tax preparers to consider when evaluating and selecting a cybersecurity professional. Treasury Inspector General for Tax Administration (TIGTA), IRS Impersonation Scam — Fill out this online form to report an IRS impersonation scam. Note that a taxpayer may also call (800) 366-4484 to report the scam. What to Do After a Tax Professional Data Compromise — This IRS video gives steps tax professionals should take if they are the victim of a data compromise. Why Tax Professionals Need a Security Plan — In this IRS video, learn the importance of tax professionals establishing data security plan. Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you're not already a member, consider joining this prestigious community of your tax peers. You'll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.

There are a lot of reasons people trust tax pros and accountants to manage their tax situations, but probably the biggest one is they need someone they trust who can confidently tackle the complicated details of tax compliance and dealing with the IRS. But who's looking out for tax pros and accountants when the IRS makes sudden requirement changes? See, in 2019, the IRS added a question 11 to the W-12 PTIN application and renewal form, which read: “As a paid tax return preparer, I am aware of my legal obligation to have a data security plan and to provide data and system security protections for all taxpayer information. Check the box to confirm you are aware of this responsibility.” An innocuous question? Maybe not.  After investing hours upon hours of research into creating a data security plan for a client, Andrew Lassise, founder and CEO of Tech4Accountants, discovered that this tiny little question had much larger implications. That's when he knew he and his team could help. Lassise's company is one of the leaders in the industry for establishing ACTUALLY IRS-compliant practices and building rock-solid fortresses of optimization and speed in their tech. As Andrew says, they take the "SH" out of IT for accountants and tax professionals. Listen in as TPM's Nate Hagerty and Andrew Lassise discuss data security plans, server backups, and the vulnerability of small firms in the hacking world.  And get access to that detailed data security plan template mentioned in the podcast here: Tech4accountants.net/taxpromarketer-wisp

In a letter to the IRS, the AICPA recently offered recommendations on six key areas of regulation of paid tax return preparers. A senior manager on the AICPA’s Tax Policy & Advocacy Team explains more about why the recommendations are needed. Also, learn more about a recent popular article on delivering and receiving feedback. What you’ll learn from this episode: Why it’s important for the IRS to address the issue of unregulated tax return preparers. Insight into preparer tax identification numbers (PTINs) and IRS authority over them. Why the current process to revoke a PTIN can be “time-consuming and costly.” An explanation of supervised, nonsigning return preparers. More on a recent JofA article about delivering and receiving feedback. News on the issuance of nonauthoritative guidance for auditing digital assets, and economic trends to watch.

This episode is also available as a blog post: https://tax-turbo.com/its-time-for-tax-professionals-to-renew-their-ptin/ --- Send in a voice message: https://anchor.fm/bobby-c-williams-jr/message

Two cases look at cancellation of debt issues in the Tax Court this week, the IRS sets PTIN fees to restart for next tax season and more.

This week we look at: IRS describes letters issued for Form 7200 when various issues arrive Loan was nonrecourse since lender did not take route that could have lead to deficiency judgment Debt failed to be qualified principal residence interest IRS proposes to add Schedules K-2 and K-3 for international partnership issues PTIN fees to return next year Copyright 2020, Kaplan, Inc.

https://vimeo.com/409321320 https://www.currentfederaltaxdevelopments.com/podcasts/2020/4/18/2020-04-20-end-of-first-funding-round-for-ppp-loans     This week we look at: SBA issues guidance on self-employed taxpayers and partners for PPP loan program Revenue Procedure issued explaining how to deal with retroactive change in life for qualified improvement property IRS gives guidance on filing Forms 1139 and 1045 via fax while Service Centers are shut down Proposed regulations released to set government portion of PTIN fee at $21 Procedures issued to deal with Forms 706 returned by private delivery services from closed Service Centers

This week we look at: SBA issues guidance on self-employed taxpayers and partners for PPP loan program Revenue Procedure issued explaining how to deal with retroactive change in life for qualified improvement property IRS gives guidance on filing Forms 1139 and 1045 via fax while Service Centers are shut down Proposed regulations released to set government portion of PTIN fee at $21 Procedures issued to deal with Forms 706 returned by private delivery services from closed Service Centers Copyright 2020, Kaplan, Inc.

IR-2020-17, January 22, 2020 WASHINGTON — With the start of the 2020 tax filing season near, the Internal Revenue Service is reminding taxpayers to avoid unethical "ghost" tax return preparers. According to the IRS, a ghost preparer does not sign a tax return they prepare. Unscrupulous ghost preparers will print the return and tell the taxpayer to sign and mail it to the IRS. For e-filed returns, the ghost will prepare but refuse to digitally sign as the paid preparer. By law, anyone who is paid to prepare or assists in preparing federal tax returns must have a valid Preparer Tax Identification Number, or PTIN. Paid preparers must sign and include their PTIN on the return. Not signing a return is a red flag that the paid preparer may be looking to make a fast buck by promising a big refund or charging fees based on the size of the refund. Ghost tax return preparers may also: Require payment in cash only and not provide a receipt. Invent income to qualify their clients for tax credits. Claim fake deductions to boost the size of the refund. Direct refunds into their bank account, not the taxpayer's account. The IRS urges taxpayers to choose a tax return preparer wisely. The Choosing a Tax Professional page on IRS.gov has information about tax preparer credentials and qualifications. The IRS Directory of Federal Tax Return Preparers with Credentials and Select Qualifications can help identify many preparers by type of credential or qualification. Free basic income tax return preparation with e-file is available to qualified individuals from IRS-certified volunteers at Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) sites across the country. For more information and to find the closest visit Free Tax Return Preparation for Qualifying Taxpayers on IRS.gov No matter who prepares the return, the IRS urges taxpayers to review it carefully and ask questions about anything not clear before signing. Taxpayers should verify both their routing and bank account number on the completed tax return for any direct deposit refund. And taxpayers should watch out for ghost preparers inserting their bank account information onto the returns. Taxpayers can report preparer misconduct to the IRS using IRS Form 14157, Complaint: Tax Return Preparer (PDF). If a taxpayer suspects a tax preparer filed or changed their tax return without their consent, they should file Form 14157-A, Tax Return Preparer Fraud or Misconduct Affidavit (PDF). Page Last Reviewed or Updated: 22-Jan-2020 www.fender-tax.com

IRS has the right to impose a PTIN fee, a look at state tax refunds under TCJA's SALT limits and more

This week we look at the following items: Court finds IRA and plan balance received in divorce not protected in bankruptcy Interest limitation proposed regulations (except for passthroughs) heads to OMB Connecticut crumbling foundation relief clarified to also create NOLs that can be carried back in 2018 PTIN renewal opened up by the IRS OMB announces plans for guidance on TCJA loss limitation rules--but not planned to be out until June 2019 Taxpayer denied innocent spouse relief. Copyright 2018 Kaplan Professional Education

OMB receives proposed regulations on Section 163(j), PTIN renewal season opens, and more.

https://player.vimeo.com/video/297611349https://www.currentfederaltaxdevelopments.com/podcasts/2018/10/28/2018-10-29-more-guidance-to-come Court finds IRA and plan balance received in divorce not protected in bankruptcy Interest limitation proposed regulations (except for passthroughs) heads to OMB Connecticut crumbling foundation relief clarified to also create NOLs that can be carried back in 2018 PTIN renewal opened up by the IRS OMB announces plans for guidance on TCJA loss limitation rules--but not planned to be out until June 2019 Taxpayer denied innocent spouse relief. 2018-10-29 More Guidance to Come from Kaplan Accounting CE on Vimeo

It has been about a week since we gorged ourselves at the Christmas dinner table.  And many of us still have leftovers.  Should we still be eating them? Guest - Carol Harrison, registered dietician and food/nutrition expert   Are tensions between Russia and the US on the rise? Is a new cold war on the rise? President Obama has put sanctions on Russia and expelled 35 diplomats, the FBI has revealed malicious code that was e-mailed to Russian intelligence to US targets while Ptin has said he will not expel diplomats in retaliation.   Guest - Simon Palamar. Research Assistant, Centre for International Governance Innovation   Tonight, CBC will air it's annual Royal Canadian Air Farce New Years Eve special. What can viewers expect? Guest - Jessica Holmes, actress (AIR FARCE, The Holmes Show)