I am waiting to
receive more responses to my interview questionnaire – so no “Meet and Greet”
today.
Instead, here
is some Taxpro BUZZ of note -
+ The IRS and
the SSA have recently released new COLA and inflation-adjusted numbers for 2018
under current tax law. Click here to see my compilation of these new
numbers. Keep in mind possible tax
reform legislation will change, and could even eliminate, some of the numbers
in the compilation.
+ MY TAX COURSES
ONLINE BLOG provides “a checklist of
things you should take care of prior to tax season so that everything runs
smoothly” in “Now is the time - Pre-Tax Season Checklist”.
While the post
suggests participating in the AFSP under “Get your education and training”, I
do not find this IRS program valuable.
But now is a great time to sign up for the NATP year-end update classes
“The Essential 1040” and “Beyond the 1040”.
Click here for more information.
And also check
with the appropriate state chapter of NATP or other tax preparer membership
organizations for year-end state tax seminars and workshops.
The bottom line
-
“Tax season can be stressful but it's easy to
mitigate this stress if you have a solid plan in place and follow this
checklist. By preparing for tax season early, you can avoid technical and
administrative snags and make January-April run as smoothly as possible.”
+ It appears
that silence won’t be golden on 2017 tax returns. Michael Cohn explains “IRS won’t accept returns next year without health coverage” at ACCOUNTING TODAY –
“In an update Friday to the web page of its
ACA Information Center for Tax Professionals, the IRS said will not accept the
electronic tax return until the taxpayer indicates whether they had coverage,
had an exemption or will make a shared responsibility payment. On top of that,
the IRS said tax returns filed on paper that don’t address the health coverage
requirements may be suspended pending the receipt of additional information and
any refunds may be delayed.”
+ The TAX
FOUNDATION has released its annual State Business Tax Climate Index, which “enables business leaders, government
policymakers, and taxpayers to gauge how their states’ tax systems compare”.
No surprise
that my former home state of New Jersey is #50 in overall ranking – like Oliver
Twist last on the list! My relatively
new home state of Pennsylvania ranks #26.
The 10 best
states in this year’s Index are:
1. Wyoming
2. South Dakota
3. Alaska
4. Florida
5. Nevada
6. Montana
7. New
Hampshire
8. Utah
9. Indiana
10. Oregon
The 10 lowest
ranked, or worst, states in this year’s Index are:
41. Rhode
Island
42. Louisiana
43. Maryland
44. Connecticut
45. Ohio
46. Minnesota
47. Vermont
48. California
49. New York
50. New Jersey
Where does your
state rank?
+ My fellow tax
blogger Russ Fox lists “The Five ‘Strangest’ Things Clients Told Us This Tax Season” at TAXABLE TALK.
During my 45
years in “the business” I have heard a lot of strange things from clients –
about taxes and other topics. And I
expect you have, too. I am sure you have
all heard the same strange stuff told to Russ – and stuff even stranger.
What are the
strangest things you have heard from your clients over the y ears?
+ Whatever you
may think of the IRS, its website if chock-a-block with helpful
information. I recently learned of this
page – “Taxpayers Who are Victims of Domestic Abuse Should Know Their Rights”.
Guys (and
dolls) – please tell your co-workers and colleagues about this blog. Thanks!
TAFN
I
have been preparing 1040s since 1972. Over the years I have developed a
collection of forms, schedules and worksheets that have proven very helpful in
my practice.
Some
of my forms are given to clients to help them provide me with the information I
need to properly prepare their returns. Some are used as “memos” to the
client’s copy and my office file copy to back-up items reported on the returns.
Others are used as attachments to the returns.
I
offer this compilation to you for only $7.95!
Click
below for more information-
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