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Top related persons:
Erin Collins - 2 it's - 1 Walker - 1 Roth - 1 there's - 1 Daniel Werfel - 1 Chip Somodevilla - 1 April Walker - 1
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American Institute of CPAs - 2 IRS - 2 Finance - 1 National - 1 Senate - 1 Getty - 1 ERC - 1 Budget - 1

Search resuls for: "April Walker"


3 mentions found


☆ 'Buyer beware.' Anyone can call themselves a tax preparer. Here’s how to find a qualified professional
  + stars: | 2023-10-05 | by ( Kate Dore | Cfp | ) www.cnbc.com   time to read: +1 min
There's a staffing shortage in the accounting industry, and it's not too early to lock in a tax preparer for next season. "Buyer beware," said April Walker, lead manager for tax practice and ethics with the American Institute of CPAs. "Truly, anybody can call themselves a tax preparer." In her 2022 annual report to Congress, National Taxpayer Advocate Erin Collins highlighted the "absence of minimum competency standards for return preparers" as a top problem. When a preparer makes a mistake, the filer is ultimately responsible for their return and can face IRS enforcement action, she wrote.
Persons: it's, Walker, Roth, there's, Erin Collins Organizations: American Institute of CPAs, Finance, IRS, National
☆ IRS to target 'unscrupulous' tax preparers amid crackdown of small business tax credit
  + stars: | 2023-09-24 | by ( Kate Dore | Cfp | ) www.cnbc.com   time to read: +2 min
Chip Somodevilla | Getty ImagesIRS scrutiny of the employee retention creditThe plan is part of the agency's elevated focus on employee retention credit claims, according to April Walker, lead manager for tax practice and ethics with the American Institute of CPAs. A pandemic-era tax break, the employee retention credit, or ERC, was designed to support small businesses that kept employees on payroll during shutdowns or revenue declines in 2020 and 2021. He included the earned income tax credit, a tax break claimed by low- to moderate-income filers, which has been prone to mistakes due to complex eligibility requirements. While IRS audit rates have dropped overall, the rates have declined more slowly for filers claiming the earned income tax credit than higher earners. "The IRS audits a higher percentage of taxpayers with the earned income tax credit than any other taxpayers, except those with at least $5 million of total positive income," National Taxpayer Advocate Erin Collins wrote in her 2022 report.
Persons: Daniel Werfel, Chip Somodevilla, April Walker, Werfel, Chuck Marr, Erin Collins Organizations: Senate, Getty, American Institute of CPAs, ERC, IRS, Budget, National Taxpayer, filers Locations: Worth
☆ How to Read a Form 1098-E
  + stars: | 2023-03-02 | by ( ) www.wsj.com   time to read: +10 min
By Kerri Anne RenzulliIf you have student loans, chances are you’ll encounter the IRS’s Form 1098-E. Those with multiple loans across multiple lenders will be sent a separate 1098-E form by each lending institution. But for those who do, this mark indicates that you took out your student loan before Sept. 1, 2004. Instead of relying on the Form 1098-E, you’ll need to request or download records of what you paid in interest and your payment history from your loan servicer, says Greene-Lewis. Who can claim the student loan interest deduction The $2,500 deduction phases out as your modified adjusted gross income rises.
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