Viewing by month: June 2009

Jun 5 2009

Webcast with Tax Season Highlights

State Information Technology Consortium (SITC) presents the Highlight Webcast

SITC has posted to its website the latest in the EITC/VIDA webinar series.  This fifth in the series showcases the first year of the online training series with a review of the previous webcasts.  Revisit the other webcasts as you take a break from tax season.  Read about the Virginia CASH Campaign success of providing free tax preparation services to over 21,000 taxpayers.

Read more....and listen to the webcast

Download the Highlight slides....

Posted by Carolyn Spohrer at 1:59 PM - Categories: Coalition Partners | Conferences/Webinars

Jun 5 2009

IRS In the News

IRS Launches Tax Return Preparer Review; Recommendations to Improve Compliance Expected by Year End

WASHINGTON — IRS Commissioner Doug Shulman announced today that by the end of 2009, he will propose a comprehensive set of recommendations to help the Internal Revenue Service better leverage the tax return preparer community with the twin goals of increasing taxpayer compliance and ensuring uniform and high ethical standards of conduct for tax preparers.

Some of the potential recommendations could focus on a new model for the regulation of tax return preparers; service and outreach for return preparers; education and training of return preparers; and enforcement related to return preparer misconduct. The Commissioner will submit recommendations to the Treasury Secretary and the President by the end of the year.

“Tax return preparers help Americans with one of their biggest financial transactions each year. We must ensure that all preparers are ethical, provide good service and are qualified,” Shulman said. “At the end the day, tax preparers and the associated industry must be part of our overall game plan to strengthen the integrity of the tax system.”

The first part of this groundbreaking effort will involve fact finding and receiving input from a large and diverse constituent community that includes those that are licensed by state and federal authorities — such as enrolled agents, lawyers and accountants — as well as unlicensed tax preparers and software vendors. The effort will also seek input and dialog with consumer groups and taxpayers.

“We plan to have a transparent and open dialogue about the issues,” Shulman said. “At this early and critical stage of the process, we need to hear from the broadest possible range of stakeholders.”

Later this year, the IRS plans to hold a number of open meetings in Washington and around the country with constituent groups.

More information, including schedules and agendas for public meetings, will be posted on the “Tax Professionals” page on this Web site and will be communicated to stakeholder groups.

Posted by Carolyn Spohrer at 10:07 AM - Categories: Press Releases

Jun 5 2009

In the News from the Urban Institute

The Urban Institute recently published its findings regarding impact of extending the Earned Income Tax Credit to non-custodial parents.

"Under current federal income tax rules, low-income noncustodial parents are ineligible for the EITC benefits available to low-income families with children, even when they support their children through full payment of child support. While the EITC and child support have successfully removed many low-income working families from poverty, the combined effect of taxes and child support payments can impoverish noncustodial parents working at or near the minimum wage."

Read more....

Download the report....

Posted by Carolyn Spohrer at 10:01 AM - Categories: Press Releases