Elrod

Late last week, the IRS exacerbated the marriage penalty by offering a very large reward for unmarried taxpayers who co-own a home: double the mortgage interest deduction available to married taxpayer.

MORE:   http://www.forbes.com/sites/anthonynitti/2016/08/01/irs-increases-marriage-penalty-unmarried-cohabitants-to-get-twice-the-mortgage-interest-deduction/#5ede428914c8

..............FuNnY.......

.......................YEA!................

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Save on repair costs...........Go this route....

Most accountants perform at least some tax work, so it’s not surprising that the majority of professional liability claims against accountants are in the tax arena.

“The higher-dollar claims against accountants are in the financial statement area, but the opportunity for tax claims is greater,” said Ron Parisi, of Orchard Accounting and a former insurance company executive. “But there are a lot of ‘black and white’ errors. The consequences and penalties can be calculated almost immediately, as opposed to the true value of damages on fraud and audit. The legal concept of ‘proximate cause’ can link damages with the breach easier on tax than in audit cases.”

http://www.accountingtoday.com/news/tax-practice/hidden-dangers-78740-1.html

There are several measures CPA firms can take to mitigate data risk and manage their security. CPA firms are responsible for tax identification numbers, social security numbers, financial account numbers, and additional data which can threaten the identity and financial security of clients if compromised.

http://www.cpapracticeadvisor.com/article/12233937/how-accounting-firms-can-protect-their-data-and-their-clients

..................................................TRUST.................................................................

Don't feel bad FNDY.....When it comes to electrical work.... this is what I end up looking like....

On the other hand.... look how wonderful it can be done when a wall or cabinet isn't involved....

Two CPAs have filed suit against the Internal Revenue Service claiming its collection of annual fees for Preparer Tax Identification Numbers is not legal. Minnesota CPA Adam Steele and Georgia CPA Brittany Montrois seek to have their litigation certified as a class action suit. The plaintiffs are seeking to have the fees halted and receive refunds on those paid since they were implemented in 2010.

The IRS plan to require tax preparers be regulated was thrown out by a federal court early in 2013 and an appeal court agreed later the agency lacked the authority to enforce such regulations. CPAs, Enrolled Agents and tax attorneys were exempt from proposed requirements for competency testing and mandate education courses. However, the court rulings let the PTIN requirements stand, following the litigation brought by another group of preparers.

This year, the IRS began rolling out a voluntary plan for education and registration. That is being contested in court by the American Institute of CPAs, which says the IRS also lacks the authority to implement those procedures.

In the latest case, the plaintiffs are arguing that only a small portion of the PTIN fees are being used for that process and that the remainder are going to other IRS activities and therefore represent an illegal tax.

http://www.theprogressiveaccountant.com/Tax/suit-challenges-irs-right-to-collect-ptin-fees#comments

That's a real toughy one....but as you said...agree... could have gone either way.

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The American Institute of CPAs has filed suit to block a new voluntary tax preparer program being rolled out by the Internal Revenue Service. The AICPA called the new program "an end-run" around a court ruling that struck down the IRS' attempt to regulate preparers last year.

SEE:...http://www.theprogressiveaccountant.com/Tax/aicpa-sues-over-irs-preparer-program

FDNY....Where is Norm,  Tommy,  or Richard..  When you need them..?,,,,Oh!...and Roger....

For the best results to tour question.......... Please call 800-829-0582, extension 623, between the hours of 7 a.m. and 7 p.m., Monday through Friday.

It will resolve all your worries....

Catherine, I am so sad for your family's loss. I pray God will give you all peace and the love of his spirit.

The Internal Revenue Service is warning tax professionals that next year, a new law will require the IRS to hold all Earned Income Tax Credit and Additional Child Tax Credit refunds until Feb. 15 as a safeguard against identity theft and tax fraud.

The correct address to the article: http://www.accountingtoday.com/news/tax-practice/irs-to-delay-tax-refunds-involving-eitc-and-actc-next-year-78387-1.html

  Imagine this. Your firm starts receiving calls and emails from clients saying they’ve been the victim of tax refund identity theft.

See more at........http://www.cpapracticeadvisor.com/news/12219907/what-to-do-if-your-firm-gets-hacked

OOPS!...........My Bad..............Sorry

Edited to remove political photo.