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| November 2011 Newsletter Issue No. 1016 | |
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Greetings!
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Hello, and welcome to our November Newsletter. Congratulations to those who met the continuing tax education requirement imposed by CTEC. Those who did not you still can but will have to pay the late fee charge. Don't let your valuable registration lapse.
IRS has announced that they have began PTIN Renewals for 2012 Filing Season. You will need to renew your PTIN prior to December 31st, 2011 so that you can prepare tax returns this coming up season. Your PTIN will be good for the entire 2012 year. The cost to renew is $63.00.
You will be required to complete 15 hours of continuing tax education for the 2012 year. Platinum is offering IRS Continuing Professional Education courses that fulfill the requirement. Our courses will be starting at $27.95 and will be available starting in January.
IRS is also urging Tax Professionals to prepare now for new e-file rules. The Internal Revenue Service advised tax professionals and tax firms that do not have Electronic Filing IdentificationNumbers (EFINs) to start the process to obtain EFINs now so they can meet new e-file requirements for 2012.
We still have our promotion going on for referrals. Starting October 1st through December 31st, customers are encouraged to refer their friends, coworkers, and employees to Platinum. The top three customers with the highest amount of referrals will be rewarded. For every customer referred, the top three customers will receive a course of their choice for free. For example, if you refer two people, you will receive two free courses. See below for more information.
In addition, we are needing five customers to give us feedback on our new EA Review course scheduled for completion the beginning of January. The first five customers who like us on Facebook and comment on why they should be chosen will be awarded a free EA Review course. You must be willing to complete the course within 60 days and give us feedback along the way.
Remember, Platinum has added a Tax Resource page to our website! There you can find tax forms, tax calculators, and other useful resources. Please give us your feedback on our blog or facebook page, as we would like to know if you find this useful as you go through your upcoming tax season.
If you have any questions, please give our office a call. We will be happy to answer questions.
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Sincerely,
Lauren Zago
Platinum Professional Services
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Tax Preparer Tidbits
President Barack Obama Pledged to Help Borrowers
President Barack Obama pledged to help borrowers cope with student loan debt by capping student loan repayments at 10 percent of a borrower's discretionary income, starting next year.
In addition, starting in January, the administration plans to offer 6 million borrowers the chance to consolidate their loans and reduce their interest rates. The effect of the executive actions could potentially save borrowers hundreds of dollars a month, according to the Department of Education.
New York City Tops in Tax Liens
An analysis of tax liens across the U.S. found that New York City, with some of the wealthiest neighborhoods in the nation, was the country's leading area to be on the receiving end of federal tax liens.
A Pilot Project at the IRS
A pilot project at the Internal Revenue Service to send out so-called "soft notices" to taxpayers whose tax returns appear to disagree with the information forms from their employers and banks could provide some benefits in terms of improved tax compliance.
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| Tax Preparer News
Tax Preparers who have a PTIN, have a Provisional PTIN, until you the pass the test, and you have until December 31, 2013 to pass the test. However, if you do not pass the test in 2012, you will still need to complete continuing education in 2012, before you are allowed to renew their Provisional PIN in 2012. The notice also explains that certain tax return preparers who must pass a suitability check will have to provide their fingerprints so that a Federal Bureau of Investigation database search can be conducted. Generally, the fingerprint requirement will affect those preparers who currently have provisional PTINs.
The IRS also published proposed regulations today ( REG-116284-11 ) that would establish user fees for fingerprinting and taking the competency examination. As proposed, the IRS portion of the fingerprinting fee would be $33, and the IRS portion of the testing fee would be $27. These user fees are in addition to any fees charged by the third-party vendors administering the programs. The fees to be charged by third-party vendors are not being announced at this time, but the total fees, including the IRS user fees, are expected to be between $60 and $90 for fingerprinting and $100 and $125 for testing.
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Notary Public
News
Platinum is now offering notary courses for forty-one states!
There are new laws affecting Notaries Public beginning January 1, 2012. Click here to learn more: New Laws Affecting Notaries Public
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CPA Tidbits
NASBA Opens CPA Verification Site
The National Association of State Boards of Accountancy has launched a new Web site, CPAverify.org, that provides a central database of state licensee information about CPAs practicing across the U.S.
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Notary Services
Why not add Notary Services and create a new source of income for yourself? Our online Notary Course is available for only $29.95. Best of all, your Proof of Completion is emailed to you within minutes. |
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Platinum Rewards Referrals!
Starting October 1st through December 31st, customers are encouraged to refer their friends, coworkers, and employees to Platinum. The top three customers with the highest amount of referrals will be rewarded in turn. For every customer they refer, they will receive a course of their choice for free. So how do you let Platinum know you referred someone? It's easy, just send us a quick email with your full name and their name.
* The top three customers with the highest amount of referrals will each receive a free course of their choice for every customer they refer. This referral promotion ends December 31st. The free courses they receive can be used during any year. Referral promotion limited to five free courses. Excludes group discounts.
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Facebook and Twitter
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