TAX PRO BUZZ

+ The Pacific Northwest Tax School has issued a report on “IRS Registered Tax Preparer (RTRP) Regulations: Challenges and Opportunities For the Tax Preparation Industry” that is worth reading.

+ The CALIFORNIA TAX ATTORNEY BLOG, written by Mitchell A. Port, tells us that there are now “Two New Types of Corporations In California”.

“California became the seventh state to adopt two new subtypes of stock corporations — a ‘flexible purpose corporation’ and a ‘benefit corporation’ as of January 1, 2012. Now, investors and entrepreneurs can pursue both social and economic objectives allowed by the new corporation subtypes.”

The other six states that currently allow at least the Benefit Corporation are Hawaii, Maryland, Virginia, Vermont, New York, and, a surprise to me, New Jersey.  Other states have legislation pending to create such a corporate variation.

+ The JOURNAL OF ACCOUNTANCY reports that “IRS PTIN System Continues to Accept 2011 Renewals” -

“The IRS online system to apply for a new preparer tax identification number (PTIN) is back up and running after a two-week hiatus for maintenance. In addition, the system is continuing to accept 2011 PTIN renewals even though the Dec. 31, 2011, renewal deadline has passed.”

+ The original BUZZ over at THE WANDERING TAX PRO also has some great info and resources for tax professionals.  It appears at TWTP every Wednesday and Saturday.

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