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IRS Cracks Down on Tax Preparer Miami

IRS Cracks Down on Tax Preparer Miami

The IRS is sending letters to 21,000 members of the Tax Preparer Miami community to make them aware of their preparer responsibilities and to provide them with information to ensure the accuracy and quality of their clients’ returns in the 2012 filing season. The IRS plans to visit at least 2,100 of the income Tax Preparer Miami during the filing season at their business locations.

Tax Preparer Miami and IRS has provided information regarding the letters to and visits with income tax preparer Miami in a question-and-answer format. The purpose of the letters and visits is to heighten awareness of preparer responsibility, with a focus on income tax preparer Miami who prepare a large number of returns with Schedules A, C and E.

Certain Income Tax Preparer Miami firms have been selected due to the high percentage of attributes that indicate errors in filing Schedules A, C or E during the 2011 filing season. Included with the letters are enclosures addressing areas of concern regarding those schedules. The letters and visits are an integral part of the effort by the IRS to provide oversight of income tax preparer Miami firms, as well as to inform practitioners of their responsibilities.

The Schedule A enclosure is being sent to income tax preparer Miami who have prepared returns that have a high number of attributes typically found to have significant errors on Schedule A, Itemized Deductions. The notice lists the most common issues as unreimbursed employee business expenses and business mileage claimed on Form 2106, travel, meals and entertainment expenses, and charitable contributions. Tax Preparer Miami CPA Viera advises staff to make reasonable inquiries if the information furnished by a taxpayer appears to be incorrect, inconsistent with an important fact, or incomplete.

The Schedule C, Profit or Loss from Business (Sole Proprietorship), enclosure is used to inform income tax preparer Miami who have prepared returns with attributes that indicate a high number of errors on Schedule C. The most common Schedule C issues are: reporting less than all the gross receipts, reporting expenses that are not ordinary and necessary for the business, and reporting the allowable amount of the expenses paid or incurred during the tax year. Income Tax Preparation Miami CPA Viera advises staff to ask clients sufficient questions to ensure that the expenses being claimed are correct. Taxpayers may not fully understand the law and they may believe they are entitled to claim Schedule C deductions for nonqualifying expenses.

The Schedule E, Supplemental Income and Loss, is the third enclosure used by the IRS to indicate that a income tax preparer in Miami has prepared returns that have a high incidence of attributes found to result in error on Schedule E. The most common issues are that rental income and expenses have not been correctly reported, rental depreciation has not been correctly calculated and passive activities, basis and at-risk rules have not been properly considered or calculated. Income Tax Preparation Miami CPA Viera makes the appropriate inquiries to determine the existence of facts and circumstances required as a condition for claiming a deduction or credit.

When it comes to income tax preparation in Miami residents often feel a lot of anxiety. This is for good reason as you need to carefully go line by line and make sure that you are executing your tax preparation the right way. Why not hire a pro?

Tax Preparer Miami Finding a Pro

Really, there is no reason to stress out when tax time rolls around. All you need to do is find a professional Tax Preparer Miami. You can start your search online by typing income tax preparer in Miami into the search engine of your choice and seeing what comes up. Likewise, you can look in the phone book under income tax preparation Miami and see what is available.

About 

Gustavo A Viera is the managing partner of Gustavo A Viera, PA. His experience spans more than 25 years. He started his career in public accounting at PriceWaterHouseCoopers where reached the level senior audit manager. His Fortune 500 experience includes positions as CFO – Latin America Region for both Hewlett Packard and Telefonica of Spain. Gustavo also writes a blog twice a week that addresses trending accounting and tax issues. He is an SBA Advisor and teaches workshops for aspiring entrepreneurs. His office is located at One Alhambra Plaza Floor PH Coral Gables FL 33134, and is admitted to practice in the State of Florida as a licensed Certified Public Accountant. Gus welcomes questions and he can be reached at 786-250-4450.

About the Author

Gustavo VieraGustavo A Viera is the managing partner of Gustavo A Viera, PA. His experience spans more than 25 years. He started his career in public accounting at PriceWaterHouseCoopers where reached the level senior audit manager. His Fortune 500 experience includes positions as CFO - Latin America Region for both Hewlett Packard and Telefonica of Spain. Gustavo also writes a blog twice a week that addresses trending accounting and tax issues. He is an SBA Advisor and teaches workshops for aspiring entrepreneurs. His office is located at One Alhambra Plaza Floor PH Coral Gables FL 33134, and is admitted to practice in the State of Florida as a licensed Certified Public Accountant. Gus welcomes questions and he can be reached at 786-250-4450.View all posts by Gustavo Viera →

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