8. Tax & IRS Updates - Universal Accounting School Training Leaders in Accounting, Tax & Bookkeeping since 1979 Thu, 19 Dec 2024 05:21:26 +0000 en-US hourly 1 https://wordpress.org/?v=6.9 https://universalaccountingschool.com/wp-content/uploads/2022/08/cropped-uac-logo_trasnparent2-1-32x32.png 8. Tax & IRS Updates - Universal Accounting School 32 32 Understanding IRS AFSP Guidelines https://universalaccountingschool.com/understanding-irs-afsp-guidelines/?utm_source=rss&utm_medium=rss&utm_campaign=understanding-irs-afsp-guidelines Fri, 26 Apr 2024 12:00:00 +0000 https://universalaccountingschool.com/?p=25324 The IRS Annual Filing Season Program (AFSP) is a voluntary program designed to recognize tax preparers who have completed a certain level of tax education and have met the IRS’s standards for tax preparation. Becoming an AFSP Record of Completion holder can not only enhance your professional development, but also demonstrate your commitment to compliance […]

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]]> 5 Reasons Why You Should Consider Becoming An Enrolled Agent https://universalaccountingschool.com/5-reasons-why-you-should-consider-becoming-an-enrolled-agent/?utm_source=rss&utm_medium=rss&utm_campaign=5-reasons-why-you-should-consider-becoming-an-enrolled-agent Fri, 12 Apr 2024 12:00:00 +0000 https://universalaccountingschool.com/?p=25401 Are you looking for a career in the tax industry? Have you considered becoming an enrolled agent (EA)? An enrolled agent is a federally-authorized tax practitioner who has technical expertise in the field of taxation and is empowered by the U.S. Department of the Treasury to represent taxpayers before all administrative levels of the Internal […]

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]]> IRS Urges Required Preparers to Take Competency Test as Soon as Possible https://universalaccountingschool.com/irs-urges-required-preparers-to-take-competency-test-as-soon-as-possible/?utm_source=rss&utm_medium=rss&utm_campaign=irs-urges-required-preparers-to-take-competency-test-as-soon-as-possible Tue, 04 Sep 2018 06:00:00 +0000 https://universalaccountingschool.com/irs-urges-required-preparers-to-take-competency-test-as-soon-as-possible/ Three years ago the Internal Revenue Service established the new tax preparer initiative requiring paid preparers to register and secure a PTIN, take a competency test, and engage in 15 hours of continuing education every year.  These requirements were established to provide the IRS with more oversight of the preparer industry while enhancing taxpayer compliance [...]

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]]> Tax News: Calculating Telephone Excise Tax Refunds https://universalaccountingschool.com/tax-news-calculating-telephone-excise-tax-refunds/?utm_source=rss&utm_medium=rss&utm_campaign=tax-news-calculating-telephone-excise-tax-refunds Tue, 04 Sep 2018 06:00:00 +0000 https://universalaccountingschool.com/tax-news-calculating-telephone-excise-tax-refunds/ Business Owners and Non-Profit Organizations: The IRS Announces a Formula for Calculating Telephone Excise Tax Refunds In May of 2006 the Treasure Department announced that beginning April 1 the government would no longer collect federal excise tax on long-distance telephone service. They also announced that taxpayers could request refunds for telephone excise tax collected after [...]

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]]> The National Taxpayer Advocate Submits Mid-Year Report to Congress https://universalaccountingschool.com/the-national-taxpayer-advocate-submits-mid-year-report-to-congress/?utm_source=rss&utm_medium=rss&utm_campaign=the-national-taxpayer-advocate-submits-mid-year-report-to-congress Tue, 04 Sep 2018 06:00:00 +0000 https://universalaccountingschool.com/the-national-taxpayer-advocate-submits-mid-year-report-to-congress/ Every year the National Taxpayer Advocate submits a report to Congress identifying significant tax issues the TAS (Tax Advocate Service) will focus on in the upcoming fiscal year.  On June 27, Nina E. Olson (current National Taxpayer Advocate) released the mid-year report expressing particular concern about the “taxpayer impact of expired and expiring tax provisions, [...]

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