Sigma Tax Pro Reminds Tax Pros About EIC Notifications From IRS

Sigma Tax Pro encourages tax pros to proactively reach out to clients who may have received an EIC letter or notice from the IRS.

Delray Beach, Florida March 9th, 2016

As tax season is winding down, Sigma Tax Pro wants to remind tax pros to proactively reach out to their clients who applied for the Earned Income Credit this year, but have not yet received their refund. There is a chance that the taxpayer received a letter from the IRS that will delay the refund, and by reaching out to those clients and letting them know to be on the look-out for that letter, tax pros can reduce the delay as much as possible. Taking this action will not only help your client receive their refund, but if you elected to use a Refund Transfer product, it will ensure you receive your preparation fees in a timely manner as well.

Ian Gardner, of Sigma Tax Pro, encourages tax pros to think of the situation from the perspective of the taxpayer: “Many clients receive these letters from the IRS, and they either panic, or ignore them completely. As a tax pro, you can let them know the necessary steps to get their refund, as well as remind them you are available to help.” A client may receive a letter or notice from the IRS for a number of reasons: if they qualify for EITC but have not claimed it on their return; if they need to verify their EITC claim; or if the client’s previous EITC claim was reduced or disallowed and they need to file Form 8862 to claim EITC.

Taxpayers and tax pros alike are reminded to be wary of anyone posing as an IRS agent, and should always report any suspicious activity. More information regarding fraud, identity theft, and phishing can be found on the IRS website.

Sigma Tax Pro provides a full range of essential services for tax pros. This includes industry leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base.

 

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Sigma Tax Pro Reminds Tax Pros Of Nearly $1 Billion In Unclaimed Refunds

Sigma Tax Pro urges tax pros to be diligent in reviewing their clients previous year returns to verify if they are among the more than one million taxpayers who did not file a 2012 tax return.

Delray Beach, Florida March 10, 2016

Under the current law, taxpayers are allowed a three-year window to claim their refund. For those who did not participate in the 2012 filing season, this is their last chance to claim the money to which they are rightfully entitled. Taxpayers are reminded that, in order to claim their prior year refund, all subsequent years must also be filed. If taxpayers are having issues obtaining prior year forms they can use the IRS tool “Get My Transcript by Mail.” The deadline to file for 2012 is April 18th, 2016, or April 19th for those in Maine and Massachusetts.

Ian Gardner, of Sigma Tax Pro, reminds tax pros that, “…Taxpayers may be missing out on more than just their refund amounts. Many individuals also qualify for EITC, which provides aid to families below certain income thresholds.” The IRS has published total potential refund amounts for each state, with the highest potential refund amounts coming from Texas, California, Florida, and New York. Tax pros in these areas are encouraged to be more diligent in ensuring their clients file, and do so within the allotted window. To contrast, Vermont, North and South Dakota, and Wyoming had the lowest potential amounts.

Sigma Tax Pro provides a full range of essential services for tax pros. This includes industry leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base.

 

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Taxpayers Who Used ‘Get Transcript’ Feature on IRS Website Should Be on the Lookout for IRS Letter, Advises Sigma Tax Pro

The IRS is sending out over 200,000 letters to taxpayers who were affected by ‘Get Transcript’ data breach

Delray Beach, Florida, August 21st 2015

After the initial reports of the issue with the IRS’s ‘Get Transcript’ application that surfaced in May, an internal review has now revealed the full extent of the fraudulent attempts to access taxpayers’ information. Jody Dovich of Sigma Tax Pro states “many tax professionals were already aware of the issue and informed their clients when the news first broke.” However, the IRS will now be sending letters out to all taxpayers who may have had their information stolen by criminals. The IRS maintains that the criminals did not gain access to internal IRS databases however. /p>

The IRS will also be offering a number of additional services to those affected by the issue. These services include free credit protection as well as Identity Protection PINs. The IRS also believes that stolen data may have been taken with a view to filing fraudulent returns next year. For this reason, anyone affected should take all precautions to protect themselves using credit monitoring and the PIN system.

Sigma Tax Pro provides a full range of essential services for tax pros. This includes industry leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base. Sigma is also launching a new identify theft product called IDShield which will be released in September of this year.

Contact: Jody Dovich
Sigma Tax Pro
+1 561-450-6422
Email:http://www.prweb.com/EmailContact.aspx?prid=11351557

 

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Sigma Tax Pro Reminds Parents and Students to Check on All Education Related Tax Benefits Available

Taxpayers should check to see if they will qualify for either of two college tax credits or other education-related tax benefits for 2015.

Delray Beach, Florida, August 21st 2015

As America says goodbye to summer and heads back to school, students and parents should check to see if they can take advantage of any education-related tax benefits. The two main benefits are the American Opportunity Tax Credit and the Lifetime Learning Credit which are available to taxpayers who pay qualifying expenses for an eligible student. The IRS considers eligible students as the taxpayer, spouse and their dependents. The American Opportunity Tax Credit can provide a credit for eligible students, however the Lifetime Learning Credit provides a maximum credit per tax return.

Jody Dovich of Sigma Tax Pro highlights the importance of being aware of these often overlooked benefits: “When it comes time to file taxes, everyone is looking to squeeze every last dollar out of their refund and this is a great way to do just that.” Nonetheless, it is vital that tax pros are aware of the specific details on these tax credits. They only apply to eligible students who are enrolled in eligible colleges, universities or vocational schools, including both nonprofit and for-profit institutions. Another caveat is that the credits are subject to income limits and this could affect the amount claimed on their tax return.

Sigma Tax Pro provides a full range of essential services for tax pros. This includes industry leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base. Sigma also offers its audit assistance product to protect tax pros and taxpayers in the event of an IRS audit.

Contact: Jody Dovich Sigma Tax Pro +1 561-450-6422

 

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Use ‘Where’s My Refund’ To Track Your Refund, Advises Sigma Tax Pro

At this time of year many taxpayers are anxiously awaiting their refunds; the ‘Where’s My Refund’ site provides a quick and easy answer.

Delray Beach, Florida, March 28th, 2015

Any seasoned tax pro will be expecting the most common question during tax season which is “where’s my refund?” The IRS reminds taxpayers to visit their site at http://www.irs.gov/refunds to get the most up-to-date status on their refund. The IRS offers taxpayers a number of useful tips through their Tax Time Guide, which is designed to help taxpayers through the busy tax season period. The IRS has also developed an application called IRS2Go 5.0 which can be downloaded onto smartphones; the ‘Where’s My Refund?’ feature is accessible through the app.

Taxpayers should expect their information to be available within 24 hours of e-filing their tax return or four weeks after mailing a return. The system updates once per 24-hour period so there is no need to continually check throughout the day. If the information has not updated, the taxpayer should check back the following day. The ‘Where’s My Refund?’ feature has received over 179 million hits this year alone so it’s definitely a hit with taxpayers. Individuals should have their Social Security number, filing status and exact refund amount when checking the status of their return or refund.

Sigma Tax Pro provides a full range of essential services for tax pros. This includes industry leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base. Sigma also offers its audit assistance product to protect tax pros and taxpayers in the event of an IRS audit.

Contact: Jody Dovich Sigma Tax Pro +1 561-450-6422

 

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NEWS AND TIPS

Sigma Tax Pro Advises Taxpayers To Look Out For Identity Verification Letters

The IRS may require taxpayers to verify their identity before processing their return and issuing a refund.

Delray Beach, Florida, March 28th, 2015

Tax professionals should advise their clients that they may receive a letter from the IRS requesting them to verify their identity. There is a website that taxpayers can visit to complete the process, idverify.irs.gov. The IRS does not send the letter because of any wrongdoing on the taxpayer’s behalf but only when they have indications that identify theft may be taking place. The communication they will receive from the IRS will be Letter 5071C. When they access the verification site, they will have to answer a series of questions that only the taxpayers themselves could answer. They will then be asked to confirm that they submitted the return. If they did not, the IRS can then take action to protect the taxpayer.

The letter will be mailed via the U.S. Postal Service; the IRS will not communicate this information through emails or phone calls. If taxpayers receive phone calls regarding the letter from someone claiming to be the IRS, they can be assured it is not a legitimate call. The letter will contain a toll-free number that can be called if the individual does not wish to use the idverify.irs.gov site to complete the process. However, there may be long hold times on the toll-free line during peak hours, so the website will always be the fastest and easiest option.

Sigma Tax Pro provides a full range of essential services for tax pros. This includes industry leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base. Sigma also offers its audit assistance product to protect tax pros and taxpayers in the event of an IRS audit.

 

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2015 Tax Filing Season Volume Greater than Previous Year, Reports Sigma Tax Pro

The early start to the 2015 tax season has seen an increase in electronically filed returns and direct deposit requests.

In contrast to last year’s delayed tax season beginning at the end of January, this years January 20th start has seen an increase in e-files and refunds over 2014 numbers. The IRS has received more than 14 million tax returns as of January 31st, and more than 13 million of those returns were filed electronically. This is a testament to the success and efficiency of the e-filing process. IRS Commissioner John Koskinen affirms their commitment to this process: “We encourage taxpayers to e-file their returns since it is the quickest, safest and most accurate way to file and the fastest way to get a refund.”

Tax professionals should also be aware of the increase in the use of the IRS’ direct deposit option for taxpayer refunds. To date the IRS has issued 7.6 million refunds worth $26.8 billion with the average refund worth $3,539 during the 2015 tax season. 7.3 million of these refunds worth $26.2 billion have been directly deposited to taxpayer accounts. It is clear that e-filing tax returns and receiving refunds via direct deposit is the way of the future for taxpayers and tax pros alike.

Sigma Tax Pro provides a full range of essential services for tax pros. This includes industry leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base. Sigma also offers its audit assistance product to protect tax pros and taxpayers in the event of an IRS audit.

Contact: Jody Dovich Sigma Tax Pro +1 561-450-6422

 

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NEWS AND TIPS

Sigma Tax Pro Warns Tax Pros to Beware of IRS Phishing Scams

Despite the IRS’s efforts to thwart phishing scams, many tax preparers have received bogus emails soliciting information this tax season.

Many tax professionals are already aware of the threat posed by phishing scams but the IRS recently issued another warning about bogus emails asking to verify information. The email appears to be from the IRS e-services asking tax preparers to verify their information. The email is in fact from scammers trying to obtain usernames and passwords so they can access taxpayers information. The IRS makes it very clear on their website that they do not initiate contact via email and that any unsolicited emails should be reported to [email protected].

The phishing emails may request that tax preparers verify a variety of items including IRS e-services portal information and Electronic Filing Identification Numbers, or EFINs. IRS Commissioner John Koskinen stated the following in regards to the issue: “I urge taxpayers to be wary of clicking on strange emails and websites; they may be scams to steal your personal information.” The end of goal of such phishing scams is typically the identity theft related crimes that have plagued taxpayers and tax pros in recent times.

Sigma Tax Pro provides a full range of essential services for tax pros. This includes industry leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base. Sigma also offers its audit assistance product to protect tax pros and taxpayers in the event of an IRS audit.

 

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Sigma Tax Pro Discusses Increase In Tax Benefits Due To Inflation Adjustments

The annual inflation adjustments have been released by the Internal Revenue Service for the 2015 tax year

It is important for all tax pros to be aware of the annual inflation adjustments the IRS makes to ensure they are getting their clients the maximum refund allowable. Revenue procedure 2014-61 provides the details about these adjustments and is available on the IRS website. The income level at the tax rate of 39.6 percent for the highest earning individuals has increased from $406,750, and $457,600 for married filing jointly, to $413,200 and $464,850 respectively. The standard deduction has increased to $6,300 for singles and married filing separately and $12,600 for married filing jointly. In addition, the standard deduction for head of household has increased from $9,100 to $9,250.

The Earned Income Credit maximum will be $6,242 for those filing jointly who have 3 or more qualifying children, an increase from the 2014 amount of $6,143. More details on the maximum credit amounts for categories such as income thresholds and phase-outs can be found in the revenue procedure at the link provided above. Some items have remained the same, however, such as the exclusion for gifts amount which remains at $14,000. Sigma Tax Pro urges all tax pros to review the revenue procedure carefully to ensure they are up to date with all changes.

Sigma Tax Pro provides a full range of essential services for tax pros. This includes industry leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base. Sigma is also reminding all tax pros to check their EFIN and PTIN numbers are up to date for the coming tax season.

Contact: Jody Dovich Sigma Tax Pro +1 561-450-6422

 

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NEWS AND TIPS

Sigma Tax Pro Announces PTIN Renewal Period Underway

Sigma Tax Pro Announces PTIN Renewal Period Underway For Tax Professionals The Internal Revenue Service reminds tax pros that PTINs must be renewed for the 2015 tax season

The Internal Revenue Service has issued a reminder to more than 690,000 federal tax return preparers nationwide that they must renew their Preparer Tax Identification Numbers (PTINs). All current PTINs expire on December 31st, 2014 and anyone planning to prepare tax returns in 2015 must have a valid PTIN number from the IRS. The PTIN number has to be entered on all tax returns prepared, and failure to have a valid PTIN may result in penalties.

Jody Dovich at Sigma Tax Pro urges all tax pros to complete their PTIN renewal process as early as possible, “It’s easy to get distracted during the holiday season and leave it until too late.” Any preparer who already has a 2014 PTIN can complete the renewal process quickly and easily online at www.irs.gov/ptin. For first-time applicants, the PTIN application fee is only $64.25 and this process can also be completed on the IRS website. However, for those wishing to complete a paper application, the process can take 4 to 6 weeks.

Sigma Tax Pro provides a full range of essential services for tax return preparers. This includes industry-leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base. Tax preparers can also become resellers of Sigma’s 10400-CL software and increase their revenue during tax season.

Sigma Tax Pro provides a full range of essential services for tax pros. This includes industry leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base. Sigma is also reminding all tax pros to check their EFIN and PTIN numbers are up to date for the coming tax season.

 

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Sigma Tax Pro Comments On Cuts To IRS Budget

Recent cuts to the IRS budget by Congress affect hold times experienced by professional tax preparers

As many tax pros are already aware the IRS budget was cut by 7% in 2014. IRS Commissioner John Koskinen feels that these cuts are unfair and may be driven by the IRS’ targeting of conservative groups last year. Koskinen argues that the IRS budget is only $11 billion per year but if compliance with the tax code drops 1% this costs the government $30 billion per year in lost revenues. The commissioner sees the IRS as a money-making entity and that cutting its budget will cause more harm than good in the long run.

Jody Dovich from Sigma Tax Pro explains how this will affect tax professionals: “Hold times are already long when preparers are calling the IRS for assistance. These budget cuts will only increase the hold times and make tax season even more frustrating for tax preparers and their clients.” John Koskinen affirmed this idea in a recent address to the National Society of Accountants and urged tax professionals to call their congressmen and vent their frustrations. Koskinen also highlights that the IRS budget is being cut even as they are being asked to take on the additional work of handling the tax provisions of the current administration’s signature legislation, the Affordable Care Act.

Sigma Tax Pro provides a full range of essential services for tax pros. This includes industry-leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base. Tax preparers can also become resellers of Sigma’s 10400-CL software and increase their revenue during tax season.

Contact: Jody Dovich Sigma Tax Pro +1 561-450-6422

 

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NEWS AND TIPS

Tax Pros aid In IRS Recovery Of $576 Million In Tax Refunds

Sigma Tax Pro applauds the recovery of refunds by the IRS assisted by financial institutions and tax professionals.

The Treasury Inspector General for Tax Administration recently reported last year’s recovery amount, which is more than double previous years’ recoveries. This success was attributed to the IRS’s External Leads Program. The program generates leads about potentially incorrect tax refunds from banks, brokerage firms, law enforcement and the tax preparation industry. The refunds in question can be Treasury checks, direct deposits or prepaid debit cards which are the standard refund options that tax pros will offer to their clients. While the leads program has undoubtedly been a success, the Treasury Inspector General also sees room for improvement through faster follow-up on leads.

The recent success of the program can be attributed to the exponential increase in partner financial institutions that the IRS has enjoyed since 2010. Jody Dovich from Sigma Tax Pro comments on this increase: “When the program first started in 2010, they only had 10 institutions signed up. Now in 2014, they have over 250 institutions on board. That’s a massive increase.” The program has also increased its revenue from $233 million to last year’s record of $576 million. If the IRS is able to achieve their goal of verifying and responding to leads quicker, then next year’s revenue should only grow, as well as the number of institutions participating in the program.

Sigma Tax Pro provides a full range of essential services for tax professionals. This includes industry-leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base. Tax preparers can also become resellers of Sigma’s 10400-CL software and increase their revenue during tax season.

 

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IRS Makes Offshore Voluntary Disclosure Program More Open for Non-willful Tax Evasion, Advises Sigma Tax Pro

A recent announcement by the IRS is intended to bring more offshore taxpayers into compliance with U.S. tax obligations.

Professional tax preparers have often faced challenges in working with clients who have offshore investments or those who earn other income outside of the United States. The IRS’s Offshore Voluntary Disclosure Program was intended to encourage non-compliant taxpayers to come into compliance. However many taxpayers have been unwilling to do so for fear of severe penalties. The new announcement by the IRS is designed to make it easier for those are non-compliant to come to the table and it is hoped it will result in thousands of taxpayers making good on their obligations.

The highlights of the announcement are an expansion of the streamlined filing compliance procedures and important modifications to the Offshore Voluntary Disclosure Program. The important distinction in these cases is between those taxpayers whose non compliance was non-willful and those who intentionally avoided paying taxes. The Department of Justice is also working in tandem with the IRS to identify US based institutions who have willfully assisted taxpayers in their avoidance of taxes. Moreover, thousands of foreign institutions have also agreed to cooperate with the U.S. government and provide information on taxpayers who have assets overseas and are avoiding paying taxes.

The Offshore Voluntary Disclosure Program was launched by the IRS in 2012 and the IRS reports that more than 45,000 taxpayers have used the program paying about $6.5 billion in taxes, interest and penalties.It is hoped the new announcement will convince non compliant taxpayers who have previously been reluctant to come forward to do so. For non-willful taxpayers residing outside the U.S. all penalties will be waived and for those residing inside the U.S. there will be a miscellaneous offshore penalty equal to 5 percent of the foreign financial assets that gave rise to the tax compliance issue..

Sigma Tax Pro provides a full range of essential services for tax professionals.This includes industry leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base. Clients can already renew their tax software licenses for next year’s tax season and ensure the lowest pricing available in the industry.

 

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NEWS AND TIPS

Sigma Tax Pro Breaks Down Key Tax Provisions of Affordable Care Act

The Affordable Care Act contains some key tax provisions that all professional tax preparers should be aware of.

The Affordable Care Act is a complex piece of legislation that many taxpayers are not well versed in. Furthermore many tax professionals do not fully understand the ramifications of the the current administration’s landmark law. The main items to be aware of are the Premium Tax Credit and the Individual Shared Responsibility payment. The IRS administers these tax provisions and it is essential that accountants, CPAs, enrolled agents and tax preparers can discuss them with their clients when next tax season arrives.

The Premium Tax Credit is applicable to any taxpayers who obtain their health insurance coverage through the Health Insurance Marketplace. Beginning in 2014 any taxpayers who get their coverage in this fashion will be eligible for this tax credit which will make purchasing health insurance more economically viable. The Open Enrollment period for the Health Insurance Marketplace has ended but some individuals may still be able to use it, such as those who have recently become unemployed and no longer have employer sponsored health insurance. In summary if a taxpayer meets any of the following criteria they may be eligible; they buy health insurance through the Marketplace; they are ineligible for coverage through an employer or government plan; they are within certain income limits; they do not file a Married Filing Separately tax return and cannot be claimed as a dependent by another person.

The Individual Shared Responsibility payment refers to the requirement that individuals must have essential minimum health insurance for themselves and each member of their family. If they do not they must have an exemption from the responsibility to have minimum essential coverage, or make a shared responsibility payment when they file their taxes. For this reason it is important their chosen tax professional can correctly advise them on this requirement as it could have a significant impact. The minimum requirement could be met by employer sponsored heath insurance, government sponsored insurance, insurance purchased direct from a company or coverage purchased through the Health Insurance Marketplace.

Sigma Tax Pro provides a full range of essential services for tax professionals. This includes industry leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base. Clients can already renew their software licenses for next year’s tax season and ensure the lowest pricing available in the industry.

 

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Sigma Tax Pro Reports New IRS Penalty Relief For Small Business Retirement Plans

The Internal Revenue Service recently announced it will pilot a one year program to help small businesses who owe penalties for their retirement plans.

 

Many small businesses have been saddled with penalties for not filing reporting documents pertaining to their retirement plans. The Internal Revenue Service announced this week that it will begin a pilot program to help small businesses in this position. During this pilot one-year period small businesses will be able to file current and prior year forms to avoid penalties. The details of the program can be found on the IRS website at Revenue Procedure 2014-32.

The penalties that small businesses can face in this situation can be up to $15,000 per return. Moreover, many businesses were unaware that this filing requirement even existed. The Internal Revenue Service hopes that the new program will allow good intentioned businesses to come into compliance with the filing requirements. Pension plan administrators must file an annual Form 5500, however this program is only available to certain small businesses such as owner-spouse arrangements.

In an attempt to simplify the process for business owners and retirement plan administrators, multiple plan returns will be allowable in a single submission. Furthermore, if returns are delinquent for more than one year, relief may still be granted and there will be no filing fee during the first year pilot phase.

Sigma Tax Pro provides a full range of essential services for tax professionals. This includes industry leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base. Clients can already renew their software licenses for next year’s tax season and ensure the lowest pricing available in the industry.

http://www.miamiherald.com/2014/05/30/4147104/tax-preparers-claim-final-victory.html

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NEWS AND TIPS

Tax Preparers Claim Final Victory Over IRS in Licensing Plan, Announces Sigma Tax Pro

The conclusion to a case that has taken over two years was finally reached as the IRS declined to file a petition to the Supreme Court.

The case that began in 2012 when three tax preparers decided to take on the IRS reached its conclusion this month when the IRS did not exercise its option to seek a review of the case by the Supreme Court. Now that the deadline has passed, the issue can finally be put to rest and tax preparers around the country can breathe a sigh of relief. The IRS will not be able to require independent tax preparers to go through a licensing program which many within the industry perceived to be onerous.

The background to the case is interesting; the IRS proposed that it had the authority to regulate tax preparers under the “Horse Act” of 1884. This statute was created to regulate compensation claims for dead horses brought by civil war veterans but was used as a means to put forward licensing requirements for tax preparers in the 21st century. The three tax preparers who took on the IRS —Sabina Loving of Chicago, Ill., Elmer Kilian of Eagle, Wis., and John Gambino of Hoboken, N.J., argued that the IRS could not use this 19th century legislation without the approval of Congress.

The proposed licensing would have affected hundreds of thousands of tax preparers across the United States and it was argued that it would have benefited special interests over independent tax preparation offices. Ultimately, the IRS did not obtain congressional approval and declined their opportunity to take the case to the Supreme Court.

Sigma Tax Pro provides a full range of essential services for independent tax preparers. This includes industry leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base. Clients can already renew their tax software licenses for next year’s tax season and ensure the lowest pricing available in the industry.

http://article.wn.com/view/2014/05/27/Sigma_Tax_Pro_Reports_New_IRS_Penalty_Relief_for_Small_Busin_m/

 

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Sigma Tax Pro Advises Taxpayers and Tax Pros To Be Aware of Phony IRS Calls

Many American taxpayers have recently been subjected to a pervasive scam by fraudsters pretending to be IRS agents.

The Internal Revenue Service (October 31, 2013) warned taxpayers late last year of what is purported to be the largest IRS phone scam in history. Criminals have been calling taxpayers and demanding immediate payments for taxes owed. The fraudsters claim to be IRS agents and tell the victims they owe thousands of dollars to the IRS. They demand immediate payment which must be in the form of prepaid debit cards or wire transfers. Thousands of victims have already lost over $1 million through this elaborate ruse which often preys on recent immigrants to the United States.

The Washington Post (April 16th, 2014) recently covered the issue and posted a recorded conversation of one of the scam phone calls. They also report that the reason for immigrants being targeted in the scam relates to the threat of deportation that the criminals use to force the victim into paying whatever they demand. However, they also report that the scam has now spread to any taxpayer that can be conned into believing that they are indeed IRS agents. Furthermore the scam involves the use of VOIP (Voice Over Internet Protocol) technology so it appears the call is coming directly from the IRS. The call will show up on the victim’s caller ID as 1-800-829-1040 which is the main IRS phone number.

The IRS has warned taxpayers of several ways to tell if a phone call they receive could be a scam. The first sign is if you have not received notification in the mail prior to the phone call. The IRS will always communicate any past due taxes via mail first. Also if the caller becomes threatening or tries to intimidate you this is also a sign that it is a scam. Perhaps the simplest advice to follow is always to call the IRS first at 1-800-829-1040 to check if you do indeed owe taxes. If this is the case then payments arrangements can be made via the legitimate IRS call centers.

Sigma Tax Pro provides a full range of essential services for tax professionals.This includes industry leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base. Clients can already renew their software licenses for next year’s tax season and ensure the lowest pricing available in the industry.

 

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NEWS AND TIPS

Sign Up Now For 2014 IRS Nationwide Tax Forums Recommends Sigma Tax Pro

The Internal Revenue Service recently announced the location and dates for its 2014 Nationwide Tax Forums.

 

The IRS Nationwide Tax Forums are popular with tax pros, enrolled agents, CFPs and CPAs across the United States. The three day forums will be held at five locations during the months of July and August. The first forum will be held in Chicago from July 1st to the 3rd and the pre-registration deadline is June 17th. The second will be in San Diego from July 15th to the 17th and the registration deadline is July 1st. New Orleans will host the third forum from July 22nd to the 24th with the deadline on July 8th. Washington D.C.’s forum will be from August 19th to the 21st and the deadline is August 5th. Finally Orlando, Florida will see the fifth and final forum on August 26th to 28th with an August 12th deadline.

The pre-registration deadlines can offer attendees considerable savings on the cost of enrollment; the on-site price will be $355 but those who take advantage of pre-registering will pay only $225. These three day events provide essential up-to-date information on federal and state tax issues. They also feature presentations by experts from the IRS and its partners as well as training seminars and workshops. There will over 40 separate seminars and workshops to take advantage of at each forum. Moreover, enrolled agents and CPAs can earn up to 18 Continuing Professional Education Credits in each location. CFPs may also be able to use the courses for continuing education credits pending approval.

Many national associations also participate in the forums including the American Institute of Certified Public Accountants (AICPA), the National Association of Tax Professionals (NATP) and the National Society of Tax Professionals (NSTP). Members of these associations qualify for further discounts and will pay only $215 before the pre-registration deadline. Attendees at the 2013 forums reported a 94% satisfaction rate and the 2014 forums mark their 24th year.

Sigma Tax Pro provides a full range of essential services for tax professionals. This includes industry leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base. Clients can already renew their software licenses for next year’s tax season and ensure the lowest pricing available in the industry.

 

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