PROPOSED REGS REFLECT NEW HEAD OF HOUSEHOLD DUE DILIGENCE RULE FOR TAX PREPARERS

NSTP8867, Earned Income Tax Credit, Individual Taxpayers, Social Security, Tax Cut & Job Act, Tax Professionals, Tax Refund, TCJA, Uncategorized

Proposed regulations have been issued by the Internal Revenue Service that amend portions of previously proposed regulations to reflect the Tax Cuts and Jobs Act (TCJA) expansion of the scope of the tax return preparer due diligence penalty under Code Sec. 6695(g).

FREQUENT EITC-ABUSING PREPARERS PERMANENTLY ENJOINED FROM PREPARING RETURNS:

NSTPEarned Income Tax Credit, Individual Taxpayers, Internal Revenue Service (IRS), Penalties, Tax Professionals, Tax Professionals, Taxpayer, Uncategorized

A district court has permanently enjoined a pair of return preparers, who prepared thousands of federal income tax returns that falsified business income in order to boost the Earned Income Tax Credits (EITCs; also known as Earned Income Credits or EICs) that their clients could claim, from preparing tax returns for others.

e-SERVICES NOW AVAILABLE

NSTPe-Services

e-Services Users, Most user applications for e-File, Transcript Delivery Systems and the AIR Transmitter Control Code are now available. The transition of e-Services to a new platform was completed this weekend. This technology upgrade will mean an improved look and feel to the applications. All users except for state users may now submit new or change existing applications. Restoring state access to applications and to extracts is a priority. Meanwhile, states may submit critical changes by contacting their IRS Government Liaison. This technology upgrade took longer than anticipated. The IRS apologizes for the inconvenience this has caused. The IRS also has added additional personnel to the e-Help Desk to assist with applications questions and processing. As a reminder, we announced on Friday that the move of e-Services to a new identity proofing process called Secure Access currently is on hold while we review vendor options. Please know that we are doing our best to upgrade our systems to make e-Services easier to use and more secure for you and your clients.

GET YOUR 2018 PTIN BEFORE DECEMBER 31, 2017

NSTPPreparer Tax Identification Number (PTIN)

Dear Tax Professional, It is now Preparer Tax Identification Number (PTIN) renewal season for 2018. THERE IS NO FEE/COST FOR 2018 PTINs. All PTINs expire on December 31 and must be renewed annually. You must have a valid PTIN if you plan to prepare any federal tax returns for compensation or you are an enrolled agent. Get started at www.IRS.gov/ptin. If you can’t remember your User ID or password, use the “Forgot User ID” or “Forgot Password” links on the PTIN system login page. You will be asked to enter the email address associated with your account and the answer to your secret question. Keep up to date by following the IRS Return Preparer Office on Facebook. For the latest news and tools to stay connected, visit www.irs.gov/for-Tax-Pros. Return Preparer Office Internal Revenue Service Note from the Editor: even though recent court rulings have prevented the IRS from collecting fees for the PTIN system, they did not eliminate the requirement to register annually in order to prepare tax returns. All tax professionals must register with the PTIN system in order to be eligible to file tax returns as a paid preparer in 2018.