April 2014                            Newsletter                            Issue No. 1028

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In This Issue
Tax Preparers News
Notary Public Tiidbits
CPA News
Platinum Promo!
Enrolled Agents News

Dear (Contact First Name),    

Congratulations! You survived another tax season.  As our gift to you we are offering, from April 17th-April 20th, our continuing education tax courses at half-price.  Even better, the first 18 customers receive their education at no charge. Remember, our courses are good for six months from the date of purchase so you don't need to start your course until you're ready.  Please check out our Platinum Promo! section for more information.

   

Have you considered adding Errors and Omissions insurance?  Platinum is now offering Errors and Omissions insurance and coverage is available from $182 per year. Please visit our website.

 

Tax Preparer News:  We have posted the latest updates in regards to to New York Tax Preparers. See below for details.  We are reposting Maryland updates if anyone missed it from our last newsletter. 

  

Notary News: Maryland and Wyoming have raised the fees that Notaries may charge for performing notarizations, and several other states are considering legislation that would also raise Notary Public fees. See below to read more.

Enrolled Agent News:  

We get asked many times from our customers what the difference is between an Enrolled Agent and a Tax Preparer.  If you don't know we have included that information below.

 

CPA News:  Did you know the following State Boards no longer maintain a formal CPE Sponsor program?  Instead, they have defined the requirements for acceptable CPE courses and Platinum Professional Services courses meet these standards. Please see the list below.

 

 

 

Lauren Zago                                                            
Platinum Professional Services
Latest News
 
Tax Preparers News
       
New York Tax Preparers:  The Cuomo administration has set new regulations for paid tax preparers, saying they will reduce errors and possible fraud.

According to the governor's office, the rules apply to some 40,000 preparers.

The state since 2011 has required most preparers to register annually with the Tax Department.

Under the new regulations, those paid to prepare at least 10 state tax returns in a year are required to pass a basic competency exam, meet applicable IRS requirements and take four hours of annual continuing education.

Those with fewer than three years' experience would be required to take a 16-hour basic tax course.

The state Department of Taxation & Finance says the regulations took effect Dec. 11. Attorneys, public accountants and volunteer tax preparers are exempt. 

 

Maryland state law requires that you need to complete 16 hours of tax education every two years. Four of the 16 hours must be in Maryland state tax-related subjects. Platinum offers a separate 4 hour CPE Maryland state-tax-related subject as well as a combined course of 19 hours CPE which includes 4 hours of Maryland state-tax-related-subjects and 15 hours of continuing professional education as recognized by the IRS. Platinum Professional Services has combined the IRS recommended CPE hours and the Maryland requirements so you can meet all your tax education needs in one course. 

 

Platinum Professional Services will report your completion of the course to the IRS.

 

 Notary Public

News

 

Maryland's Secretary of State issued rules that, effective April 1, double maximum fees from $2 to $4 for each notarial act performed. This action was authorized under a bill (HB 102) passed by the state legislature in 2013.

In Wyoming, House Bill 19 was recently signed into law increasing Notary Public fees to $5 effective as of July 1.

In West Virginia, House Bill 4012 has passed the state legislature and is on Governor Earl Ray Tomblin's desk awaiting his signature. If Governor Tomblin signs the bill, Notaries will be able to charge $5 per notarial act after July 1. Notaries who would like to voice support for the bill cancontact the Governor and urge him to sign it into law.

Several other state legislatures are also

considering legislat
ion to increase Notary Public fees. Minnesota (House Bill 155, Senate Bill 238), Missouri (House Bill 1167), and New York (Senate Bill 1399, Assembly Bill 1788) would all allow Notaries in their states to charge $5 per notarial act if their measures pass.
 

In addition, the Connecticut legislature is considering Senate Bill 440, which would allow Notaries to charge travel fees greater than 35 cents per mile. Any travel fee that exceeds the current maximum would need to be negotiated and agreed to ahead of time.


 


CPA News  

 

The following states no longer maintain a formal CPE sponsor program: Alabama, Alaska, Arizona, California, Colorado Connecticut, DC, Georgia, Hawaii, Idaho, Indiana, Iowa, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Missouri, Montana, Neveda, New Mexico, Rhode Island, Utah, North/South Dakota, Vermont, Virginia, Washington, Wisconsin, and Wyoming

 

Platinum Promo!

  

We are giving the first 18 customers a continuing education course* free of charge. Please use promo code Gift18.  

 

Please note, once the maximum number has been used, the promo code will no longer be valid. 

 

In addition, you can choose one of our continuing education courses* to receive at half-price.  This promotion is only valid on Thursday, April 17th through Sunday, April 20th. Please use promo code 

Smile to receive the discount. 

 
*Both offers are only valid on IRS 15 Hour, CTEC 20 Hour, EA 24 Hour and Oregon 15 Hour Continuing Education courses.  Offer good for one course per customer.  No refunds given on prior orders.

 

Please contact Platinum Professional Services at 877 315-1772 or email us at [email protected] if you have any questions. 

 

 

 Enrolled Agent

News

 

Enrolled agents (EAs) are America's tax experts. They are the only federally-licensed tax practitioners who specialize in taxation and also have unlimited rights to represent taxpayers before the IRS. While attorneys and certified public accountants are also licensed, only enrolled agents specialize exclusively in taxes. Enrolled agents are required to complete many hours of continuing education each year to ensure they are up-to-date on the constantly changing tax code and must abide by a code of ethics.

 

 

 

 

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