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Return Preparer

Washington Alert – DOJ files criminal charges against Bank Julius Baer & Co., Ltd; CBO report on estimated budget deficit of $165 billion; TIGTA report on IRS’s Return Review Program (RRP)

Washington Alert – DOJ files criminal charges against Bank Julius Baer & Co., Ltd; CBO report on estimated budget deficit of $165 billion; TIGTA report on IRS’s Return Review Program (RRP)

The Justice Department (DOJ) on Feb. 4 announced that it has filed criminal charges against Bank Julius Baer & Co., Ltd., a Swiss financial institution, and also entered a deferred prosecution agreement that requires a payment by the bank of $547 million by Feb. 9. As described by DOJ, “Julius Baer is charged with conspiring […]

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IRS narrows requirement to file schedule m-3 to avoid penalties

IRS narrows requirement to file schedule m-3 to avoid penalties

Rev Proc 2016-13, 2016-4 IRB 290 IRS has issued a Revenue Procedure that contains IRS’s annual update of procedures that taxpayers must follow in order to meet the requirements for adequate disclosure that reduce the substantial understatement accuracy-related penalty and eliminate the preparer understatement penalty for unreasonable positions. The new Revenue Procedure eliminates the need […]

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Proposed Regs Drastically Increase Enrolled Agent Examination Fee

Proposed Regs Drastically Increase Enrolled Agent Examination Fee

Preamble to Prop Reg01/25/2016, Prop Reg § 300.4 Proposed regs on Special Enrollment Examination User Fee for Enrolled Agents. IRS has issued proposed regs that would raise the fee for taking the 3-part enrolled agent special enrollment examination from $11 to $99 per part (i.e., $297 for all three parts). This amount doesn’t include any […]

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Washington Alert – PTIN expiration notices sent; GAO faults IRS phone service; Return preparers and EITC warning; FINCEN and insurance companies

Washington Alert – PTIN expiration notices sent; GAO faults IRS phone service; Return preparers and EITC warning; FINCEN and insurance companies

IRS announced on Jan. 22 that the Return Preparer Office has started mailing Preparer Tax Identification Number (PTIN) expiration notices to tax preparers who have not renewed their PTIN for 2016. (e-News for Tax Professionals 2016-3) According to the agency, some 150,000 such notices will be sent. The notice informs recipients that their PTIN can […]

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Washington Alert – Another Bank enters the Swiss Bank Program; CBO report on the budget; IRS issues reminder to non-credentialed tax preparers

Washington Alert – Another Bank enters the Swiss Bank Program; CBO report on the budget; IRS issues reminder to non-credentialed tax preparers

The Justice Department (DOJ) announced on Jan. 6 that Union Bancaire Privée, UBP SA (UBP) reached a resolution under the department’s Swiss Bank Program and agreed to pay a penalty of nearly $188 million. According to DOJ, the bank had a decades-long history of aiding and assisting U.S. clients in opening and maintaining undeclared accounts […]

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Washington Alert – DOJ Penalties under the Swiss Bank Program; IRS Return Preparer Office issues warning letters; IRS urges use of Get Transcripts program

Washington Alert – DOJ Penalties under the Swiss Bank Program; IRS Return Preparer Office issues warning letters; IRS urges use of Get Transcripts program

The Justice Department’s (DOJ’s) Tax Division capped off a whirlwind period of Swiss Bank Program-related activity ending on Dec. 23 with the last of its announcements revealing details of resolutions generating penalties totaling more than $280 million. As described by DOJ, the Swiss Bank Program, which was launched in August 2013, provides a path for […]

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IRS advises taxpayers to choose a tax return preparer wisely

IRS advises taxpayers to choose a tax return preparer wisely

IR 2015-124 Noting that there is still some time before the next tax filing season, IRS has advised taxpayers to make use of that time to consider the appropriate options in choosing a tax return preparers. Basic advice. IRS provides some basic tips that taxpayers can keep in mind when selecting a tax professional and filing […]

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Circuit court reverses; AICPA has standing to challenge IRS return preparer program

Circuit court reverses; AICPA has standing to challenge IRS return preparer program

American Institute of Certified Public Accountants v. IRS, (CA DC 10/30/2015) 116 AFTR 2d ¶ 2015-5377 The Court of Appeals for the District Columbia, reversing a district court’s holding, has held that the American Institute of Certified Public Accountants (AICPA) has standing to challenge IRS’s Annual Filing Season Program (AFSP), i.e., the program under which […]

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IRS reminds return preparers of looming 2016 limits on practice before IRS

IRS reminds return preparers of looming 2016 limits on practice before IRS

IR 2015-123 In a News Release, IRS reminds non-credentialed tax return preparers (i.e., those who aren’t enrolled agents (EAs), certified public accountants (CPAs), or attorneys) of major upcoming changes, beginning in 2016, on which tax return preparers can represent clients in matters before IRS. Those return preparers need to take action by Dec. 31, 2015 […]

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IRS announces changes to Preparer Tax Identification Number user fees

IRS announces changes to Preparer Tax Identification Number user fees

T.D. 9742, 10/29/2015; Reg. § 300.13, Reg. § 300.13T; Preamble to Prop Reg10/29/2015 ; Prop Reg § 300.13; IR 2015-123 In a temporary reg, IRS has announced changes, effective for applications filed on or after Nov. 1, 2015, in the fees for applying for and renewing Preparer Tax Identification Numbers (PTINs). The text of the […]

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Washington Alert – EITC due diligence letters; IMSI Catchers & Stingrays; JCT on proposed tax treaty between US & Japan

Washington Alert – EITC due diligence letters; IMSI Catchers & Stingrays; JCT on proposed tax treaty between US & Japan

IRS announced on Oct. 30 that it had recently sent Earned Income Tax Credit (EITC) Due Diligence letters to tax preparers “who submitted incorrect or highly questionable” EITC tax returns over the past year. (QuickAlerts for Tax Professionals) According to the agency, recipients of the letters should understand that the letters are solely informational in […]

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Washington Alert – TIGTA report on FATCA; IRS pub on Safeguarding Taxpayer Data; TIGTA report on IRS failure to revoke the PTINs for unsuitable tax return preparers

Washington Alert – TIGTA report on FATCA; IRS pub on Safeguarding Taxpayer Data; TIGTA report on IRS failure to revoke the PTINs for unsuitable tax return preparers

IRS has made good progress in implementing the Foreign Account Tax Compliance Act (FATCA), the Treasury Inspector General for Tax Administration (TIGTA) said in an audit released on Oct. 13. (Audit Report No. 2015-30-085) As described in the audit, under FATCA, individual taxpayers with specified foreign financial assets that meet a certain dollar threshold are […]

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Washington Alert – Shutdown Plans of IRS; TIGTA report on IRS’s Return Review Program (RRP); TIGTA report on assessment of the 2015 filing season

Washington Alert – Shutdown Plans of IRS; TIGTA report on IRS’s Return Review Program (RRP); TIGTA report on assessment of the 2015 filing season

In the event IRS is confronted with a lapse in appropriations leading to a government shutdown during the first quarter of fiscal year 2016, just 9,975 agency employees – known as “excepted/exempt” employees – out of a total workforce of some 87,500 will remain at work pursuant to a Treasury Department directive. (Fiscal Year 2016 […]

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IRS to return test fees paid by preparers for invalidated preparer program

IRS to return test fees paid by preparers for invalidated preparer program

IRS has announced that it will be refunding the fees that return preparers paid for the Registered Tax Return Preparer (RTRP) test which was part of a return preparer program that a court determined IRS didn’t have the authority to mandate. Click here for IRS’s “Registered Tax Return Preparer Test Fee Refunds” (May 21, 2015). […]

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How preparer penalties apply where return not filed, not signed, or filed late

How preparer penalties apply where return not filed, not signed, or filed late

Chief Counsel Advice 201519029 In Chief Counsel Advice (CCA), IRS has provided guidance on whether preparer penalties apply under various scenarios including where a return was signed by the preparer and never filed, where it was filed but IRS couldn’t find a copy with the preparer’s signature, and where a refund claim was filed after […]

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IRS posts FAQs on refunds of test fees related to invalidated preparer program

IRS posts FAQs on refunds of test fees related to invalidated preparer program

Following up on its announcement that it will refund fees that return preparers paid for the Registered Tax Return Preparer (RTRP) test, which was part of a return preparer program that a court determined IRS didn’t have the authority to mandate, IRS has issued frequently asked questions (FAQs) on the subject. Background. In 2011, IRS […]

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IRS and National Tax Groups Join in Helping Choose the Right Tax Return Preparer

IRS and National Tax Groups Join in Helping Choose the Right Tax Return Preparer

IR 2014-116, Fact Sheet 2014-11, December 2014   In a press briefing, IRS has announced that it was joining with several national tax organizations to provide people with new options to get information and tips on selecting tax professionals and avoiding unscrupulous return preparers. A Fact Sheet provided additional tips to keep in mind when […]

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Reminder: Dec. 31 is Deadline to be in IRS’s Return Preparer Program

Reminder: Dec. 31 is Deadline to be in IRS’s Return Preparer Program

IR 2014-113 IRS has issued a reminder that tax return preparers who wish to participate in IRS’s new Annual Filing Season Program (AFSP) for 2015 must complete the relevant continuing education (CE) requirements by Dec. 31, 2014. IRS has also provided updated information about AFSP. Background. In IR 2014-75, IRS announced a voluntary education program, the […]

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IRS further explains preparer voluntary education program

IRS further explains preparer voluntary education program

Fact Sheet 2014-8, June 2014 Click here for Fact Sheet: IRS Unveils Filing Season Program for Tax Return Preparers, Answers Frequently Asked Questions. In a Fact Sheet, in a frequently asked questions (FAQs) format, IRS has provided additional information on its new, voluntary Annual Filing Season Program, which is designed to encourage tax return preparers […]

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Guidance sets out details for IRS’s voluntary education program for preparers

Guidance sets out details for IRS’s voluntary education program for preparers

Rev Proc 2014-42, 2014-29 IRB Following up on its recent announcement in IR 2014-75, IRS has provided guidance in a Revenue Procedure on its new, voluntary Annual Filing Season Program designed to encourage tax return preparers who are not attorneys, certified public accountants (CPAs), or enrolled agents (EAs) to complete continuing education courses for the […]

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Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

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Member CA Bar Member Orange County Bar US Tax Court Attorney