As the start of another tax season draws closer, practitioners would do well to review the new due diligence requirements for preparing returns that claim child tax credits and the American opportunity credit, Internal Revenue Service warnings to safeguard client data from cybercriminals and other important developments. To read the full article in Journal of Accountancy, click: Getting in Shape for Tax Sea ...

  Two CPAs in Washington D.C. have filed a class action lawsuit against the IRS for requiring a yearly registration and related fee in order to maintain a preparer tax identification number (PTIN). The suit, which involves 700,000 practitioners, seeks to recover $150 million in fees that the IRS has collected since the regulation passed in 2010. Four years ago, the IRS put the new rule into effect as a ...

Still Fighting for its RTRP Program;  More Case Analysis and Industry Reaction Frank Byrt at Accounting Web reports what's happened in last two weeks since the U.S. District Court for the District of Columbia found the IRS lacked authority to regulate independent tax preparers.  Here's more: ...