How Hard is it to be a Tax Preparer?

By Andy FryePosted on September 27, 2013November 20, 2019Posted in Become a Tax Preparer

How Hard is it to be a Tax Preparer?

By Tim Frye

There seems to be plenty of confusion when it comes to determining how hard it is to actually do taxes. Turbo tax has made a millions telling people it really is not that hard, and they don’t need any help and they can go it alone. CPAs have made stacks of cash telling you that doing your own taxes is the fastest way to end broke or in the slammer. The truth is somewhere in between. How hard is it really to prepare income taxes? Well, let us find out.

How Many Households Pay No Income Tax?

By Andy FryePosted on September 27, 2013November 20, 2019Posted in Ways to Make Money as a Tax Preparer

How Many Households Pay No Income Tax?

By Tim Frye

Everyone loves to use the old adage that in life there are only two things for sure, death and taxes regardless of creed, color, or religion. It is a saying that that pains us, and concurrently a saying that binds us. In a large amount of households, paying income tax is not the norm. As of the most recent analysis from the The Tax Policy Center, the percentage of households that pay no income tax fell from 47% in 2011 to 43% currently. Let’s dive into the specifics of these statistics…

Is the IRS Targeting Small Businesses?

By Andy FryePosted on September 27, 2013November 20, 2019Posted in Ways to Make Money as a Tax Preparer

Is the IRS Targeting Small Businesses?

By Tim Frye

As time goes on, the IRS grows its bandwidth and its capabilities in demanding complete transparency from individuals and businesses. As of late, they have been cracking down on small businesses with a somewhat ruthless abandon. The IRS, according to recent reports, is targeting more than 20,000 small businesses spanning the nation. They are sending relatively intimidating robobot letters demanding information regarding the possible under reporting of profit by the taxpayer. They are focusing on cash receipts for obvious reasons. Let’s go into the aspects of this IRS targeting and discuss its consequences.

Do Tax Preparers Still Have to Complete Fifteen Hours of Continuing Education?

By Andy FryePosted on September 27, 2013November 20, 2019Posted in CTEC Renewal News

Do Tax Preparers Still Have to Complete Fifteen Hours of Continuing Education?

By Tim Frye

Throughout the last few years the IRS has been making determined efforts to increase tax preparation standards and regulations. When you consider the importance of the overall tax filing process to America, the tax preparation industry has been surprisingly loosely regulated,. Sixty percent of tax returns are prepared by tax preparers, so this is a large group of people who have a lot of power to pervert the collection process for their or their client’s benefits. A few years back, the commissioner of the IRS implemented the new standards for tax preparers starting with requiring all those with PTINs to complete fifteen hours of continuing education, or be disqualified from filing returns in the upcoming season. This provision has been overturned as of 2013, with the IRS no longer requiring tax preparers to complete any federal continuing hours whatsoever. Let’s take a look at these events and the consequences this can present for current tax preparers looking to complete their required education.

Do Tax Preparers Still Have to Complete Fifteen Hours of Continuing Education?

By Andy FryePosted on September 20, 2013December 20, 2019Posted in Tax Preparer Education Requirements

Do Tax Preparers Still Have to Complete Fifteen Hours of Continuing Education?

By Tim Frye

Throughout the last few years the IRS has been making determined efforts to increase tax preparation standards and regulations. When you consider the importance of the overall tax filing process to America, the tax preparation industry has been surprisingly loosely regulated,. Sixty percent of tax returns are prepared by tax preparers, so this is a large group of people who have a lot of power to distort the collection process for their client’s benefits. A few years back, the commissioner of the IRS implemented the new standards for tax preparers starting with requiring all those witth PTINs to complete fifteen hours of continuing education, or be disqualified from filing returns in the upcoming season. Requirement was appealed and this provision has been overturned as of 2013, and the IRS no longer requiring tax preparers to complete any federal continuing hours whatsoever. Let’s take a look at these events and the consequences this can present for current tax preparers looking to complete their required education.