The Tax Preparation Blog

Archive for the ‘Tax Preparers’ Category

Question: Is any kind of licensing required to be a paid Tax Return Preparer in Missouri?

The federal government does not require licensing, but some states (notably California) do require you to be registered in order to prepare tax returns for others.

Does anyone know or have a link to information specific to the state of Missouri?

Thanks

Answer: No, nothing here in MO. I’ve seen bait shops and “buy here, pay here” car dealers who prepare tax returns as a sideline. Pretty crazy here.

Tax preparer sentenced for filing false returns

A Kenansville tax preparer was sentenced in federal court Friday to more than three years in prison and ordered to pay more than $32,000 in restitution after pleading guilty to aiding and abetting tax fraud, officials say. Angela Fay Williams, 45,…

Protect Yourself From Bad Tax Preparers

House Session 2010-04-15 (18:26:35-19:26:58)

Question: I’m thinking of enrolling in a beginner’s tax preparers course.?

What is the job market like for entry level tax preparers? Also, math isn’t my strong suit, should I still consider doing the course to get a job in that area?

Answer: Eh…the market isn’t great no matter what you do, although I have noted that medical assisting and IT jobs have skyrocketed…

I’m majoring in Accounting in college and I suck at math. In my opinion: if you can use a calculator, you can do taxes.

Tax preparer H&R Block names former eBay executive William Cobb to board

KANSAS CITY, Mo. – H&R Block on Monday said it had elected a former eBay Inc. executive to its board. William R. Cobb served as president of the online auctioneer’s U.S. marketplaces division.

Accounting practice: Tax Preparer Certification

Question: What liability do tax preparers have?

My tax preparer made a mistake when entering information on my tax forms from last year. This mistake may cost me $10,000 in back taxes from last year and thousands less on my return this year. Are tax professionals typically held liable for these mistakes or does the fault most often fall back on the tax payer themselves?

Answer: What is the real problem? Did the preparer make a mistake that will cost you $10,000 extra or did the preparer make a mistake by overlooking a $10,000 liability that you had anyway? It is unlikely that a preparer will make a mistake that can’t be fixed that generates additional tax and if you owed it in the first place, you haven’t been harmed. To the extent that you have to pay extra you may have some private claim against the preparer.

Liability of Tax Return Preparers (Order No. J1-1466) $75.00 …

Tax Return Preparers Liability: Guidelines for Professional Responsibilities $24.95 …

Effects of Decision-Aid Use on Evaluations of Tax Preparer Liability $59.00 Prior research demonstrates that the use of decision aids by auditors can influence jurors? assessments of liability for audit failure. This study extends such research to tax preparation, investigating how tax practitioners? use of decision aids influences jurors? evaluations of liability. Participants included 226 qualified jurors responding to a hypothetical lawsuit against a tax practi…

Expiring Bush Tax Cuts Present Dilemma for Preparers

The Senate Finance Committee held hearings last week to consider the effects of the soon-to-expire Bush tax cuts, and those problems could be magnified for tax practitioners and their clients.

How to Pick the Right Tax Preparer

Tax Tips: Choosing a Tax Preparer January 2010