Monthly Archives: January 2014

Life as a Second-Class Citizen

Posted on January 31, 2014 by Russ

I’m quite perturbed at the IRS today. The NAEA in its weekly eAlert email confirmed that I am now a second-class citizen. I reported last week about being told that tax professionals might be unable to order transcripts through the … Continue reading →

Posted in IRS | Tagged , | 1 Comment

Speaking of Transcripts…

Posted on January 26, 2014 by Russ

Last week I wrote about the possible elimination of the ability for tax professionals to request transcripts through the Practitioner Priority Service beginning tomorrow (Monday, January 27th). I have not received confirmation of this, nor have I received any official … Continue reading →

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It’s Only $1,300; Do You Really Have To Send Me the 1099?

Posted on January 26, 2014 by Russ

The deadline for mailing 1099s to recipients is this coming Friday, January 31st. That’s a postmark deadline. If you mail a 1099 on Friday and it takes two weeks to get to the recipient, that’s not a problem. (Well, it … Continue reading →

Posted in IRS | Tagged , | 1 Comment

No More Ordering Transcripts Through Practitioner Priority Service?

Posted on January 23, 2014 by Russ

The IRS Practitioner Priority Service (PPS) is a wonderful tool for tax professionals. It allows us an easy way to obtain information on clients, set up installment agreements, and for practitioners to deal with the IRS. This morning I called … Continue reading →

Posted in IRS | Tagged | 3 Comments

More Work for Tax Professionals: Submission IDs for Efiled Returns

Posted on January 22, 2014 by Russ

When a taxpayer efiles his or her tax return, he or she (or a married couple if it’s a joint return) sign Form 8879. There was a change to Form 8879 for 2013 that tax professionals need to be aware … Continue reading →

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The Trouble With Bitcoins: Taxation

Posted on January 19, 2014 by Russ

National Taxpayer Advocate Nina Olson noted in her recent report that the IRS needs to issue specific guidance around digital currency: The use of digital currencies, such as bitcoin, is growing. Between July and December, 2013, bitcoin usage increased by … Continue reading →

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We Will Soon be Able to Efile Past Due Individual Tax Returns

Posted on January 16, 2014 by Russ

One of the annoyances of tax preparation work is that past due tax returns must be paper-filed. Well, that will no longer be the case for 2012 tax returns. Tax professionals will be able to efile 2012 individual tax returns … Continue reading →

Posted in IRS | Tagged | 2 Comments

The IRS Has Better Things To Do than the RTRP Designation

Posted on January 13, 2014 by Russ

Recently, there has been some discussion in the tax blogosphere regarding the Registered Tax Return Preparer (RTRP) designation. The IRS wanted to make this a mandatory designation for unenrolled tax professionals (those who are not Enrolled Agents, CPAs, or attorneys). … Continue reading →

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Fourth Quarter (2013) Estimated Payment Deadline Is Here

Posted on January 13, 2014 by Russ

The fourth quarter 2013 estimated tax payment deadline is Wednesday, January 15th. If you need to make an estimated payment, it must be postmarked on or before the 15th. If you use EFTPS, the payment must be made on or … Continue reading →

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Massages May Feel Nice, But Can You Deduct Them at the Poker Table?

Posted on January 12, 2014 by Russ

Last week I had an inquiry that asked me about deducting massages at the poker table. At many poker rooms and major poker tournaments, you can get a massage; the cost ranges between $1 and $3 per minute (plus a … Continue reading →

Posted in Gambling | 4 Comments