Legislation Requires All Tax Professionals to be Enrolled Under IRS Regulations
The State of Florida has no standards or laws regulating the conduct or standards of tax professionals. Anyone or his idiot-savant brother, may open up a tax office and receive compensation for preparing tax returns. In fact, according to Marvin Diamond
of Diamond Professional Tax Preparers in Kissimmee, Florida, people have done just that. Diamond complains of companies opening up for just a few weeks during tax season, taking people's money, then closing up and disappearing - while customers are left without even getting their tax returns.
Senator Jeff Bingham's legislation intends to stop those kinds of consumer problems - and worse ones.Once S.
832 passes, there will be thousands of tax professionals with long-term experience, excellent professional track records, but no credentials, who will be forced out of business. They won't be able to become CPAs or attorneys in time for next tax season. Both those professions tend to require college degrees, and intensive examinations. In addition, to be a CPA requires two years of internship with a supervising CPA.There is only one credential that tax professionals might get in time for next tax season. That is the Enrolled Agent's license.
It is awarded when a tax professional passes four examinations offered by IRS each September (or works for IRS for 5 years in certain positions). Interestingly enough - no college degree is required.The four exams are grueling. The pass rate is low - about 25%-30% pass all four parts the first time. Before IRS issues the license, they run a background check on each tax professional.
But, once you pass those exams - you have a national license that is highly respected.
TaxMama has stepped in to help out. In response to the immediate need for licensing, TaxMama's IRS Exam Review Class is inviting all experienced tax professionals to participate in a live, online class this summer. It will be taught by the best Enrolled Agents in the country.Last year, students spanning time zones from Hawaii to New York studied together in live class sessions, from the comfort of their homes. Most students passed the four annual IRS licensing exams on their first try. A few passed two - three parts.
All of them loved the unique experience. They also bonded with each other and gained a network of advisory and referral sources.TaxMama's EA Exam Review Class will start in June and run for 10 weeks. All materials, software and study partners are included. Students even get special surprises. For information, please visit the website at http://www.irsexam.com/included.phpAbout Eva RosenbergEva Rosenberg, MBA, EA - the Internet's TaxMama has been teaching tax professionals to pass this exam for over a decade.
She developed the class at UCLA Extension. TaxMama created the very first live, online interactive class on the Web last year. Rosenberg is the author of Small Business Tax Made Easy, just out from McGraw-Hill. She is the Tax Watch columnist for MarketWatch.com .Contact:Eva RosenbergTaxAnxiety Inc.800-594-9829http://www.irsexam.com
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Need Ezine Content- Think Holidays
Publishing an ezine certainly has its benefits and rewards, but even the most prolific publishers often need more content ideas, topics and graphics.One of the best resources for newsletter and ezine publishers is holidays; they are a true gift because they can provide an overall theme, a topic, graphics, as well as content. They can add a little spice to your usual, consistent branded newsletter. The best part is that most of the holiday content is free, and it doesn't have to be in your industry or on your specific newsletter topic.There are countless holidays to choose from, with varying lengths- Mother's Day, Book Week, American Heart Month.A common holiday theme is Halloween, which many publishers use as an excuse to add a fun graphic to their ezine. It's an easy one because Halloween images exist in most clip art collections, many can be found online for free as well as for purchase; custom graphics are always an option. Halloween is a fun holiday that brings out the kid in all...
Need Ezine Content- Think Holidays
Tax help > Need Ezine Content- Think Holidays
1031 Exchange Rules
In a 1031 Exchange an investor sells his property, called "Relinquished Property," to acquire a "Replacement Property" without attracting tax on capital gains.
The whole exchange is overseen by a Qualified Intermediary (QI), a middle-man who provides services of paperwork, oversight, escrow and expertise to ensure that the transaction conforms to Rules under Section 1031 of the Internal Revenue Code.
Now, let us see what all properties qualify for 1031 Exchange. Real estate in general, for income tax purposes, has been divided into four categories- business use, investment, personal use and outright sale. Of them, the last two are unfit for 1031 Exchange.
Then comes the foremost stipulation: the new investment must be in a like-kind property. But this is not a blanket barrier either. It does not restrict that the exchanged properties must be like the photocopy of the other property in all respects, as in a bare land for bare land situation....
Tax help > 1031 Exchange Rules
Eliminate Your Credit Card Debt, But How?
Can a debt consolidation loan eliminate your credit card debt? A consolidation loan might (or might not) be the key. There are several things you must consider when making the choice to consolidate debt using a debt consolidation loan. First, is a debt consolidation loan your best choice to eliminate or substantially reduce your debt? There are other options available to you, including credit counseling and bankruptcy. Obviously bankruptcy is a last resort. You must examine several factors when making your decision on which debt reduction / elimination strategy to use.
You need to get information on debt consolidation to make the correct decision.?How much outstanding debt do you have??What is the interest rate of your current debt? Many credit cards have interest rates of 14% - 22%, depending upon your credit rating and payment history. Obviously, the higher your current average interest rate, the better...
Eliminate Your Credit Card Debt, But How?
Tax help > Eliminate Your Credit Card Debt, But How?
Taxback Provides a Second Opinion of Last 3 Years of Taxes, Results in Refunds of Overpaid Taxes for 6 Out of 10 Clients
Gainesville, VA (ContentDesk) December 19, 2003--Taxback, LLC is a company that provides business owners and 1099 employees with the opportunity to get a free second opinion on their last 3 years of taxes, from a qualified, independent tax review specialist that has the expertise to identify errors and missed deductions that may have caused them to overpay. With this tax review, clients can recover any taxes that have been overpaid over the last 3 years. Taxback finds that 6 out of 10 clients are overpaying and are entitled to a refund. The intention is not to replace their CPAs, but to give clients the peace of mind that they are taking advantage of every possible deduction that they are legally and ethically entitled to receive. Qualified clients include anyone who has paid or had withheld, federal, state or social security taxes for the last 3 years, and who has any combination of the following: 1099 income, Self-employment income, an "S" or "C" corporation, Rental income, or W2 withholdings.What...
Taxback Provides a Second Opinion of Last 3 Years of Taxes, Results in Refunds of Overpaid Taxes for 6 Out of 10 Clients
Tax help > Taxback Provides a Second Opinion of Last 3 Years of Taxes, Results in Refunds of Overpaid Taxes for 6 Out of 10 Clients
Self Employed Mortgage Loans - A Survival Guide
When you're self employed you have numerous advantages. As you are a free agent, you will write off every deduction you can on your tax return. You acquire the potential to earn extra income much more so than someone who is employed by someone else. The best part is that you are the gaffer, the boss! On rare occasions, being freelance has some drawbacks. One is when you go to get finance for a property or a large purchase.
However, here are some items to know that could help you prepare for the mortgage loan process. A self-employed mortgage loan survival guide, if you will.While confirming your income - the average lender will need to be made aware of at least 2 years of self employment history, occasionally they will request 3 years. They will ask to see this history verified in tax returns, generally. Occasionally the lenders may figure your income as being the average income you claimed on your income taxes as profits, not your gross business income. Another time the lender...
Self Employed Mortgage Loans - A Survival Guide
Tax help > Self Employed Mortgage Loans - A Survival Guide
Legislation Requires All Tax Professionals to be Enrolled Under IRS Regulations
Tsunami Aftermath
On December 26, 2004 a massive tsunami swept through Thailand killing thousands of people, and changing the lives of thousands more. Although the Tsunami happened months ago, we are still feeling the affects of it today.The massive destruction that occurred because of the tsunami has a huge impact today. Thousands of villagers in Thailand who live on a very low income to begin with lost all they had in the tsunami, as the water took it away or destroyed it altogether. These are villagers who are...
Legislation Requires All Tax Professionals to be Enrolled Under IRS Regulations Tsunami Aftermath water Tax help
Tax help > Tsunami Aftermath
Mens Diamond Rings ? The Ultimate Wedding Ring For The Modern Man.
Mens diamond rings are becoming more and more popular with the modern man. As more men celebrate their marriage by the wearing of a wedding ring, mens diamond rings are fast becoming the new mens fashion.The wearing of a wedding ring by a man is a reasonably new phenomenon. It is only really since the second world war that the wearing of a wedding ring by a man became common. However it is taking off now, as are diamond mens rings .And there are different considerations for a man's wedding jewelry...
Legislation Requires All Tax Professionals to be Enrolled Under IRS Regulations gold ring Tax help
Tax help > Mens Diamond Rings ? The Ultimate Wedding Ring For The Modern Man.