TWO FREE IRS CPE WEBINARS IN FEB 2021

posted Feb 1, 1:16 pm (28 days ago), permalink

Highlights of Tax Changes from a Tax Forms Perspective

This free 100-minute webinar is open to All.

This webinar will cover the following:

  • Knowledge of major income tax changes for tax year 2020
  • Knowledge of major tax form changes from 2019 to 2020
  • Knowledge of new tax forms for tax year 2020
  • Plus, Q & A

Continuing Education: All participants who qualify will receive a Certificate of Completion. Tax Professionals: Earn up to 2 CE Credits. Category: Federal Tax.

Closed captioning will be offered.

Registration: To register, please visit https://www.webcaster4.com/Webcast/Page/1148/39741.https://www.webcaster4.com/Webcast/Page/1148/39741

Sponsored By: IRS Stakeholder Liaison

Date: February 2, 2021

Time: 2 p.m. (ET), 1 p.m. (CT), 12 p.m. (MT), 11 a.m. (PT), 8 a.m. (Hawaii)


Keys to Mastering Due Diligence Requirements and Audits

This free 100-minute webinar is open to All.

This webinar will cover the following:

  • Review paid preparer due diligence requirements
  • Discuss due diligence documentation requirements
  • Describe IRS due diligence contact methods
  • Explain the due diligence audit process
  • Provide paid preparers online educational resources
  • Plus, Q & A

Continuing Education: All participants who qualify will receive a Certificate of Completion. Tax Professionals: Earn up to 2 CE Credits. Category: Federal Tax.

Closed captioning will be offered.

Registration: To register, please visit https://www.webcaster4.com/Webcast/Page/1148/39505

Sponsored By: IRS Stakeholder Liaison

Date: February 4, 2021

Time: 2 p.m. (ET), 1 p.m. (CT), 12 p.m. (MT), 11 a.m. (PT), 8 a.m. (Hawaii)

 


 

Prometric Test Specs Updated for the 2021 EA Exam Testing Cycle!

posted Jan 29, 11:05 am (31 days ago), permalink

 

Prometric has updated the IRS EA exam specs for the new testing cycle:

TEST SPECS: For examinations delivered between May 1, 2021 and February 28, 2022

Track change versions (to see changes from the previous year)

See comparison chart for the new domain weightings for each part of the 2021-2022 exam.

2021 tax filing season begins Feb. 12, 2021

posted Jan 15, 10:38 am (45 days ago), permalink

Issue Number: IR-2021-16

2021 tax filing season begins Feb. 12, 2021

WASHINGTON ― The Internal Revenue Service announced that the nation's tax season will start on Friday, Feb. 12, 2021, when the tax agency will begin accepting and processing 2020 tax year returns.

The Feb. 12 start date for individual tax return filers allows the IRS time to do additional programming and testing of IRS systems following the Dec. 27 tax law changes that provided a second round of Economic Impact Payments and other benefits.

This programming work is critical to ensuring IRS systems run smoothly. If filing season were opened without the correct programming in place, then there could be a delay in issuing refunds to taxpayers. These changes ensure that eligible people will receive any remaining stimulus money as a Recovery Rebate Credit when they file their 2020 tax return.

To speed refunds during the pandemic, the IRS urges taxpayers to file electronically with direct deposit as soon as they have the information they need. People can begin filing their tax returns immediately with tax software companies, including IRS Free File partners. These groups are starting to accept tax returns now, and the returns will be transmitted to the IRS starting Feb. 12.

“Planning for the nation’s filing season process is a massive undertaking, and IRS teams have been working non-stop to prepare for this as well as delivering Economic Impact Payments in record time,” said IRS Commissioner Chuck Rettig. “Given the pandemic, this is one of the nation’s most important filing seasons ever. This start date will ensure that people get their needed tax refunds quickly while also making sure they receive any remaining stimulus payments they are eligible for as quickly as possible.”

Last year’s average tax refund was more than $2,500. More than 150 million tax returns are expected to be filed this year, with the vast majority before the Thursday, April 15 deadline.

Under the PATH Act, the IRS cannot issue a refund involving the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) before mid-February. The law provides this additional time to help the IRS stop fraudulent refunds and claims from being issued, including to identity thieves.

The IRS anticipates a first week of March refund for many EITC and ACTC taxpayers if they file electronically with direct deposit and there are no issues with their tax returns. This would be the same experience for taxpayers if the filing season opened in late January. Taxpayers will need to check Where’s My Refund for their personalized refund date.

Overall, the IRS anticipates nine out of 10 taxpayers will receive their refund within 21 days of when they file electronically with direct deposit if there are no issues with their tax return. The IRS urges taxpayers and tax professionals to file electronically. To avoid delays in processing, people should avoid filing paper returns wherever possible.

Tips for taxpayers to make filing easier

To speed refunds and help with their tax filing, the IRS urges people to follow these simple steps:

  • File electronically and use direct deposit for the quickest refunds.
  • Check IRS.gov for the latest tax information, including the latest on Economic Impact Payments. There is no need to call.
  • For those who may be eligible for stimulus payments, they should carefully review the guidelines for the Recovery Rebate Credit. Most people received Economic Impact Payments automatically, and anyone who received the maximum amount does not need to include any information about their payments when they file. However, those who didn’t receive a payment or only received a partial payment may be eligible to claim the Recovery Rebate Credit when they file their 2020 tax return.  Tax preparation software, including IRS Free File, will help taxpayers figure the amount.
  • Remember, advance stimulus payments received separately are not taxable, and they do not reduce the taxpayer’s refund when they file in 2021.

Key filing season dates

There are several important dates taxpayers should keep in mind for this year’s filing season:

  • Jan. 15. IRS Free File opens. Taxpayers can begin filing returns through Free File partners; tax returns will be transmitted to the IRS starting Feb. 12. Tax software companies also are accepting tax filings in advance.
  • Jan. 29. Earned Income Tax Credit Awareness Day to raise awareness of valuable tax credits available to many people – including the option to use prior-year income to qualify.
  • Feb. 12. IRS begins 2021 tax season. Individual tax returns begin being accepted and processing begins.
  • Feb. 22. Projected date for the IRS.gov Where’s My Refund tool being updated for those claiming EITC and ACTC, also referred to as PATH Act returns.
  • First week of March. Tax refunds begin reaching those claiming EITC and ACTC (PATH Act returns) for those who file electronically with direct deposit and there are no issues with their tax returns.
  • April 15. Deadline for filing 2020 tax returns.
  • Oct. 15. Deadline to file for those requesting an extension on their 2020 tax returns

Filing season opening

The filing season open follows IRS work to update its programming and test its systems to factor in the second Economic Impact Payments and other tax law changes. These changes are complex and take time to help ensure proper processing of tax returns and refunds as well as coordination with tax software industry, resulting in the February 12 start date.

The IRS must ensure systems are prepared to properly process and check tax returns to verify the proper amount of EIP’s are credited on taxpayer accounts – and provide remaining funds to eligible taxpayers.

Although tax seasons frequently begin in late January, there have been five instances since 2007 when filing seasons did not start for some taxpayers until February due to tax law changes made just before the start of tax time.

A warning for all EROs, do not share your EFIN over the phone!

posted Dec 14, 2:56 pm (77 days ago), permalink

A warning for all EROs: the IRS announced today that scammers are contacting tax professionals and posing as IRS personnel, saying that they need to "verify" the EROs e-file acceptance letter. DO NOT PROVIDE YOUR EFIN or your acceptance letter to anyone over the phone! It's a SCAM!

Link to IRS announcement: 

https://content.govdelivery.com/accounts/USIRS/bulletins/2b110d7

EROs who receive contacts from individuals posing as the IRS should contact the Treasury Inspector General for Tax Administration at www.tigta.gov to file a complaint. EROs who received a contact and disclosed their acceptance letter should contact the e-Services help desk immediately.

 

Dec 29, 2020 Free Circular 230 Ethics CPE from John Sheely, EA & Marc Dombrowski, EA

posted Dec 4, 7:57 am (87 days ago), permalink

December 29th,2020 at 2 PM LAST CHANCE FOR ETHICSFree Circular 230 Ethics course

Enrolled Agents! Still need to fulfill your 2-hour Circular 230 Ethics requirement?

John Sheely, EA & Marc Dombrowski EA are offering their yearly FREE ethics program. This is their 3rd annual "Giving Tuesday" gift to the tax practitioner community. Seats are limited, this is FREE 2 hour ethics course that satisfies Circular 230 requirements! Seats are limited to 500 attendees. 

(Note: PassKey Learning Systems is not affiliated with, nor does it receive compensation from,Tax Practice Pro Inc., we are just sharing this information)

About This Webinar

IRM Dombrowski & the Case of the Doctor's Mistress who was the Innocent Spouse.

 

This is an an IRS ETHICS program for PTIN holders, EAs and CTEC holders.

IRS Program number: 7Q3WU-E-00136-20-O 2

This course offers 2 ethics CE to PTIN holders, enrolled agents and CTEC

This FREE ethics program is Tax Practice Pro's Third Annual "Giving Tuesday" gift to our colleagues in the tax practitioner community. This course discusses the ethics of taxpayer representation when multiple parties are involved. Specifically, the course looks at conflicts of interest and the duty of the Circular 230 professional, including the situation where the conflict is not discovered until representation is well under way.

Marc Dombrowski, EA, John Sheeley EA, and a cast of characters take you through one of the strangest cases we've seen to date, while teaching important lessons from Circualr 230 along the way.

WEBINAR SIGN UP LINK

 

Electronic Signatures for the Form 2848/8821

posted Dec 2, 10:05 am (89 days ago), permalink

Date: December 10, 2020

Time: 2:00 p.m. (ET), 1:00 p.m. (CT), 12:00 p.m. (MT),11:00 a.m. (PT), 8:00 a.m. Hawaii

This free 60-minute webinar is open to All.

Topics:

  • Understand new option for submitting third-party authorization forms/signatures electronically
  • Review step-by-step process for successfully uploading third-party authorization forms Learn what "electronic" signatures are acceptable
  • Understand ways to authenticate taxpayers? identities when conducting remote transactions
  • Plus, Q & A

Closed captioning will be offered.

Continuing Education: All participants who qualify will receive a Certificate of Completion.

Tax Professionals earn up to 1 CE Credit.

Category: Federal Tax

Registration: IRS Webinar Registration website.

Questions? Email the IRS directly at:  cl.sl.web.conference.team@irs.gov.

Sponsored By: IRS Stakeholder Liaison

Electronic Signatures for Form 2848 and 8821

*************************************************************************

Enrolled Agent Renewals Online

posted Oct 28, 1:10 pm (124 days ago), permalink

Enrolled agent renewals are coming up soon! Some users are telling us that they have not received any reminders for their renewal of enrollment! If your SSN ends in 7, 8, or 9, your enrollment cycle is coming up before the end of 2020! Your application for renewal of enrollment must be submitted between November 1 and January 31 prior to April 1 of the year that your next enrollment cycle begins. The fastest way to get your enrollment card is to go to www.pay.gov and submit Form 8554 online!

 

Directions for renewal: At www.pay.gov click “Find an Agency”

Find an Agency


Search for "Internal Revenue Service"

The Enrolled Agent Renewal Form 8554 will come right up on the page. 

Form 8554 online

 

 


Press the "Continue" button and fill out the Form 8554 online

Online Form 8554 Renewal link

 

 

Don't forget! 

Three New Free Courses in October

posted Oct 9, 8:24 am (143 days ago), permalink

Free CPE Announcement: 
Presented by the IRS Stakeholder Liaison
and Thomas A. Gorczynski, EA, CTC, USTCP
Earn free CPE Credits for EAs, CTECs, CPAs and other enrolled practitioners:


Upcoming  IRS Stakeholder Webinars
Foreign Tax Credit Common Issues – October 22, 2020
Foreign Tax Credit Creditability Around the Globe – October 29, 2020
SIGN UP LINKS and TIMES

Free Webinar, Thomas A. Gorczynski, EA, CTC, USTCP Presenting!
(No CPE, but Tom is excellent!)

Meal and Entertainment Expenses: Final Regulations
Learn Which Entertainment Expenses Remain Deductible
SIGN UP LINKS

INSTRUCTOR THOMAS A. GORCZYNSKI
PassKey Learning Systems does not offer CPE and is not affiliated with the IRS Stakeholder Liaison. PassKey Learning Systems does not endorse or receive any financial benefit whatsoever from the entities for which links are provided or mentioned in this blog post. Please feel free to forward this message to any colleagues or tax practitioners who may benefit from it. 

Free RPO Course, Oct 1 Highly Recommended for Part 3, Representation

posted Sep 22, 11:09 am (160 days ago), permalink

RPO course

Return Preparer Office: What You Should Know

Date: October 1, 2020

Time: 2:00 p.m. (ET), 1:00 p.m. (CT), 12:00 p.m. (MDT), 11:00 a.m. (MST), 11:00 a.m. (PT), 8:00 a.m. (Hawaii)

This free 75-minute webinar is open to all Practitioners.

  • This webinar will cover the following:
  • Understand PTIN requirements and when to renew
  • Understand enrolled agent (EA) requirements
  • Understand the Annual Filing Season Program requirements
  • Understand data security responsibilities for tax professionals
  • Plus a live Q & A Closed captioning will be offered in English.
  • Continuing Education: All participants who qualify will receive a Certificate of Completion.
  • Tax Professionals earn CE Credits.
  • Category: Federal Tax Update

Registration: Please visit the Internal Revenue Service Webinar Registration website.

Questions? Email us at: cl.sl.web.conference.team@irs.gov.

Sponsored By: IRS Stakeholder Liaison


SIGN up for PASSKEY LEARNING SYSTEM's free CPE mailing list here: http://eepurl.com/gwNQ7b


 

Six Hours of Free CPE Coming up from the IRS Stakeholder in September, 2020!

posted Sep 17, 9:55 am (165 days ago), permalink


Section 199A, Qualified-Business Income Deduction (QBID) - Over-Threshold Taxpayers

DATE: September 17, 2020

Time: 2 p.m. (ET), 1 p.m. (CT), 12 p.m. (MT), 11 a.m. (PT), 8 a.m. (Hawaii)

This free webinar will cover the following:

  • Summarize the fundamentals of the qualified business income deduction
  • Identify the formulas and limitations required for over-threshold taxpayers to compute the deduction
  • Outline various examples that apply the limitations to real-world scenarios
  • Plus a Q & A session
  • Closed captioning will be offered in English.
  • Continuing Education: All participants who qualify will receive a Certificate of Completion.
  • Tax Professionals earn up to 2 CE Credits.

Category: Federal Tax Update

Registration: Please visit the registration website.

Questions: Email: cl.sl.web.conference.team@irs.gov 

SIGN UP LINK: https://www.webcaster4.com/Webcast/Page/1148/36672

 


FATCA Responsible Officer Certifications of Compliance

DATE: September 22, 2020

Time: 10 a.m. (ET), 9 a.m. (CT), 8 a.m. (MT), 7 a.m. (PT)

This free webinar will cover the following:

  • Understand the Foreign Account Tax Compliant Act (“FATCA”) Responsible Officer (“RO”) certification requirements
  • Differentiate between a Certification of Preexisting Accounts (“COPA”) and a Periodic Certification
  • Determine the timelines/due dates of the Periodic Certification and the COPA required under the Foreign Financial Institution (“FFI”) Agreement, Intergovernmental Agreements (“IGAs”) and the Treasury Regulations
  • Establish the entities that are required to submit the respective certifications
  • Navigate and describe the Certification Process
  • Understand the implications of a failure to certify or qualified result
  • Identify special/unique cases and exceptions in the certification requirements and processes
  • Locate resources that will assist in navigating and responding to questions that arise related to certifications
  • Plus a live Q & A Closed captioning will be offered in English.
  • Continuing Education: All participants who qualify will receive a Certificate of Completion.
  • Tax Professionals earn up to 2 CE Credits.

Category: Federal Tax Update

Registration: Please visit the registration website.

Questions: Email: cl.sl.web.conference.team@irs.gov

Sponsored By: IRS Stakeholder Liaison 

 


Return Preparer Office: What You Should Know

Date: October 1, 2020

Time: 2:00 p.m. (ET), 1:00 p.m. (CT), 12:00 p.m. (MDT), 11:00 a.m. (MST), 11:00 a.m. (PT), 8:00 a.m. (Hawaii)

This free 75-minute webinar is open to all Practitioners.

  • This webinar will cover the following:
  • Understand PTIN requirements and when to renew
  • Understand enrolled agent (EA) requirements
  • Understand the Annual Filing Season Program requirements
  • Understand data security responsibilities for tax professionals
  • Plus a live Q & A Closed captioning will be offered in English.
  • Continuing Education: All participants who qualify will receive a Certificate of Completion.
  • Tax Professionals earn up to 2 CE Credits.
  • Category: Federal Tax Update

Registration: Please visit the Internal Revenue Service Webinar Registration website.

Questions? Email us at: cl.sl.web.conference.team@irs.gov.

Sponsored By: IRS Stakeholder Liaison


SIGN up for PASSKEY LEARNING SYSTEM's free CPE mailing list here: http://eepurl.com/gwNQ7b


 

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