Helping Tax Professionals Maximize their Business


IRS Removes Debt Indicator for 2011 Tax Filing Season- Have RAL’s Gone Away? Don’t worry. Advent is here to help.

WASHINGTON — The Internal Revenue Service today announced that starting with next year’s tax filing season it will no longer provide tax preparers and associated financial institutions with the “debt indicator,” which is used to facilitate refund anticipation loans (RALs).

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New Requirements for Federal Tax Return Preparers – Learn the Who, What, When and How

Presented on:
June 9, 2010
2 p.m. ET
Description:
Preparer Tax Identification Numbers (PTIN)
Registration
E-file mandate
Competency testing and continuing education
Preparer tax compliance verification checks
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IRS Proposes Tax Preparer Regulation

The Internal Revenue Service kicked off the 2010 tax filing season by issuing the results of a landmark six-month study that proposes new registration, testing and continuing education of tax return preparers.  Learn More

JP Morgan Chase is Exiting the RAL business!

JP Morgan Chase has just given word to the Community Reinvestment Association of North Carolina that it will be exiting the refund anticipation loan business. CRA-NC heard the news through their RAL department.  In a separate e-mail, the news was confirmed by a CRA officer at Chase.

The new direction will be effective immediately.

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