Reply With QuoteLOL @ the IRS testing the competency of others.
It's fun!Originally Posted by Cowutopia
So what's new this year, you would ask but aren't because you really don't care? A few things.
· Because Emancipation Day is on April 15, the filing deadline this year is April 18.
· Some of you have to wait until February 14 to file - I don't think most anyone here would claim the educator expense or secondary education adjustments (as most of you would rather claim the credit for the latter), but this delay also applies to those of you who file Schedule A. Those Lame Duck sessions changed quite a bit of the US Code (such as renewing the estate tax, adding Title 51, and drastically altering the transportation code) and kept everyone on edge until the new year, so the IRS had to wait until that all resolved.
· No more paper forms or instructions are automatically sent out. Granpa needs to ask to receive them in the mail if he still doesn't trust computers.
· Starting this year, paid preparers need to pay the IRS to renew their PTINs. There will be an competency exam and CPE requirements imposed by the IRS on all paid preparers starting some time in 2011, but the exam and timing of it all hasn't been specified yet. Going to a chain tax preparation service (like HR Block) is still a crap shoot as of right now.
As for my personal situation, I'm hoping to have a moderate ~$500 Federal return. One surprise came in my receipt of a 1099 MISC for a bonus payment for my tax service work last year, which means that whatever return I would have otherwise received will probably be reduced by about $300. A lot of my former co-workers are going to be pissed when they get their own. Depending on what my return is I may have to add another exemption to my W4.
As a reminder, I am an enrolled agent, and in order to earn the CPE needed to join the NAEA, I'm about to complete a course from reading this book (which I just received today): Stand Up To The IRS, so I'll soon have some fresh knowledge about the collection process and other things.
If you have questions, shoot me a note or find me on #tnl.
<3
LOL @ the IRS testing the competency of others.
I bet your life is boring.
Sick burn, bro. You got me pegged.
All I can really hope is that it does shake some idiots out of the business.
I mean, it is within the IRS's scope to set whatever rules they want for distributing PTINs, it is in their interest to make sure idiots aren't preparing returns, and maybe the costs required to set and administer all of this will be less than what it costs to fix and remedy all the issues which arise from bad returns prepared by bad paid preparers. A lot depends on how stringent the examination and CPE requirements will be.
I am not looking forward to spring, I am going to have to pay a lot of money.
That's better than getting a return, really.
Except I haven't saved any money for paying.
They joys of being "self-employed".
It turns out that after getting married, apparently I didn't fill out the w4 correctly and I'm not having enough tax taken out and have to pay quite a bit. Crap. The amount my wife has paid may balance it out if we file jointly, but that still sucks.
Also, I hate some of the people around here whose tax refunds constitute a significant portion of their yearly income because they can't hold a steady job but pop out 15 babies.
can't wake up
I'll be getting a return, since I bought a house last year, but I will take that refund amount and use it to estimate how I should change my withholding for next year (this year).
I should be getting a nice return this year. Also: don't pay anyone to do your taxes for you, it takes 15 minutes and it's fucking easy.
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