The Tax Preparation Blog

Posts Tagged ‘audit’

Question: How to become a tax preparer?

I file taxes myself. I advice my friends on taxes and tips on tax savings. I am 30 and i really want to be a professional in this field. What qualifications and formal training do i need to do taxes for others?

Answer: At the present time only 3-4 states require you to be licensed and pass a test. (California, Oregon do; I think Maryland is about to.)

Unfortunately for the public that means anyone in the other states can put up a shingle and claim they know what they are doing.

I wouldn’t let someone touch my tax return unless they had an EA, CPA, majored in tax law or some other indication that they had done more than file their own taxes every year.

Even taking the classes at the big chains (like HRBlock) is no guarantee anymore. The person could have taken one class and figured the software would catch any errors they made. Gone are the days of paper returns with the senior person at the office reviewing each one *before* it was filed.

Cycling News Roundup 29 December 2009

Alejandro Valverde chats Teusday morning, Alejandro Valverde chatted with the many fans on the net who sent him their questions through the website of the newspaper El Mundo.es.

Is an Enrolled Agent the Best Professional for YOUR IRS Problem?

Question: Hi. I have an important question to ask about taxes. My brother has declared bankruptcy.?

My brother has declared bankruptcy for the fourth time in 7 years, from buying to many luxuries. I have asked him if he has placed any money aside for taxes due for the year and he says he will not owe one cent since he has declared bankruptcy. Is this true or is he in denial? I have told him to prepare for an IRS audit. Any answers on this one would be truly appreciated.
A quick update on my brother and Bankruptcy… I finally got the truth from our Mother on his bankruptcy. He filed for debt relief and walked away from his home in 2006. Last bankruptcy was in 2000 with personal income a divorce and walking away from a lease to own. 1992 quit good paying job and turned home over to his bank for debts owed.1990 struck a deal with the owner of manufactured home he was leasing to take it back and walked away from the responsibility.
Mother is supporting them with $1,200 a month supplement to pay down bills at the present.

Answer: This is really sad to hear of people like this. Your mother shouldnt be helping them out or he will never learn…BUT that is none of my business. If you want answers that you know are for sure correct I would suggest you visit the website below. First consultation is free if you give them a call. You’re a good sister.

Public Notice

The City Council of the City of Keokuk met in regular session on December 17, 2009 at 7:30 p.m. in the City Council Chambers, 415 Blondeau Street, with Mayor David A. Gudgel presiding and the following eight council members present and one absent: Mike O’Connor, Scott Nichols, Ron Payne, Doug Matlick, Roger Bryant, Justin Tuck, Karole Smith and Susan Dunek.

Houston CPA Tax 5 Tips That Can Help you Avoid An IRS Audit

Question: i want to have a holiday to US?

i’am a full housewife here in singapore,my husband works here as a civil eng’r,we live here with our 3kids,we are permanent resident here….i’am planning to go for holiday in US,but i think US embassy asking for LETTER OF LEAVE OF ABSENCE,TAX CERTIFICATION ETC ETC..but i can provide a bank certificate to show that i have enough savings to my account,does US embassy allows housewife like me to have an holiday to their place?any idea what document will i need to provide to go there?travel agencies are not allowed now to process documents for visa,must apply in person to US embassy…thank u very much
I’ll just stay there for a month..wanna visit my relatives and friends

Answer: Other than having enough money, when approving a visa to the US, the most important thing the embassy officer considers is if you would overstay your visa and became an illegal in the US. If you are going alone while your entire family remains in Singapore, your chances of getting approved are high because you have many good reasons to return after your holiday. In your case, showing documents that prove you are married and have kids, and that your husband is a professional will ease the minds of the embassy people.

Coupons.com Incorporated Names Richard Hornstein Chief Financial Officer

MOUNTAIN VIEW, Calif.—-Coupons.com Incorporated, the leader in digital coupons, today announced the appointment of Richard Hornstein as the company’s chief financial officer. Mr. Hornstein brings more than 20 years of financial management experience and over a decade of experience as chief financial officer of both public and private companies, including rapid-growth and international …

Removing Executor of the Will

Question: Should TDS be deducted u/s 195 on sums paid to a non-resident when non-resident is non-profit organization?

A proprietory organization in India represents a US non-profit professional society. The US non-profit professional society has certification program. The certificate is issued to individual after passing 5 exams. The Indian organization collects the fee from individuals, keeps some part to meet administrative expenses and remits the balance exam fees to the US organization. The Indian organization also remits royalty fees to the US organization for reprinting study materials in India.

Under section 195, the TDS should have been deducted. However, since India has a treaty for avoidance of double taxation (ADT), and since the US organization is non-profit and exempt from paying taxes, logically there should be no need to deduct TDS.

Can any one tell if there is a rule with respect to above already or any case law? If not, is TDS deductible? If not, is there any process to be followed, e.g., applying to the Director of Income Tax (International Law) for an exmption certificate?

Answer: Better to consult a C.A.,

News briefs

Cultural Homestay International, a nonprofit educational program, is seeking a volunteer family for an exchange student who is currently attending Kaiser High School.

Renewable Energy Tax Credits are Huge for Solar, Geo Thermal Heat Pumps and more