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You are an employee with a public accounting firm who has specialized in tax preparation and now would like to open your own tax and accounting...

You are an employee with a public accounting firm who has specialized in tax preparation and now would like to open your own tax and accounting office.

You are familiar with the current tax code and have clients that have expressed an interest in having you prepare their tax returns. You also have researched and purchased tax preparation software. You are ready to prepare your first tax return when you read an article indicating that there are new requirements for tax return preparers. Research the Internal Revenue Service's website at http://www.IRS.gov and look for "Sign up for a PTIN" and then click on the Tax Professional tab to locate "New e-file Requirement for Tax Return Preparers" to begin your research. Use APA formatting to write your paper and to document your sources. It will be important to cite your sources both in-text and on your reference page.

In a minimum of 2 pages, write an essay that addresses the following:

  • Describe what IRS requirements you must comply with to prepare tax returns for individuals or businesses.
  • Discuss why the IRS took the action.
  • Describe the requirements you will need to comply with if you prepare more than the minimum number of tax returns identified by the IRS.
  • Discuss the process the IRS will require you to follow and potential issues that could arise.
  • Make sure your paper is free of spelling and grammar errors. Your writing should exhibit appropriate, audience-specific tone and vocabulary tied to the purpose of the research.
  • Include an APA formatted title page and reference page.


Use the Internal Revenue Service's website at http://www.IRS.gov and look for "Sign up for a PTIN" and then click on the Tax Professional tab to locate "New e-file Requirement for Tax Return Preparers".



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Top Answer

Dear student, Please... View the full answer

Yakasabi_IRS_answer.docx

NEW REQUIREMENTS FOR TAX RETURN PREPARERS
The following are the new IRS requirements one must comply with to prepare tax returns for
individuals or businesses.
Mandatory Tax Return Preparer...

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