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We Are Searching For Victims Of IRS Form 3520 And 3520-A

A Form 3520

It all started with the letter written by one of our members, Gary Carter who wrote an article titled Foreign Trusts: IRS Penalty Notices For Late Forms 3520-A Traumatize Many Innocent Taxpayers. The purpose of my post today is to share some of the stories that have followed and to call out all tax professionals and taxpayers to help by sharing their experiences with us by commenting on this blog post. The more we can explain what is occurring with Form 3520 and 3520-A the more we are able to bring this issue to the attention of the IRS and NTA. We will start by sharing the stories and comments that have already surfaced but we need more to be impactful. Please share this with anyone you know and ask them to contribute to the comments on this post. Everyone counts so your input is valuable!

Here are some of the stories that have emerged:
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Complimentary: Verify CPA License And State Bar License

Verify CPA License And State Bar

TaxConnections provides a complimentary resource to check a CPA License and a State Bar License for a professionals status. We make it easy to verify the credentials of any tax, accounting or legal professional you hire.

CPAs must consider if they remain on active status or inactive status. CPAs are required to have “active status” if they prepare tax returns for a public accounting firm; they issue compilation reports other than through a CPA firm; or they work for a State Legislature
Auditor. Inactive status may mean they simply went to work for a corporate organization or do not meet the state requirements for annual education credits for that year. You must refer to the individual states to understand requirements since they vary.

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A Great Way To Stay Motivated And Inspired

Be Happy

There are amazing professionals in the world who inspire us. Four time gold medalist track and field star Jesse Owens stated:

Find the good. It’s all around you. Find it, showcase it and you’ll start believing in it.

Also, remember the words of these inspirational leaders:

“Be kind whenever possible.It is always possible.”
~ Dalai Lama

“Victory belongs to the most persevering.”
~ Albert Einstein, Theoretical Physicist

“Believe you can and you are halfway there.”
~ Theodore Roosevelt, 26th U.S. President

“Strength does not come from physical capacity. It comes from indomitable will.”
~ Mahatma Gandhi

“An investment in knowledge pays the best interest.”
~ Benjamin Franklin, Inventor, Author, Politician

“The person who says it cannot be done should not interrupt the person who is doing it.”
~ Chinese Proverb

Request Our Complimentary eBook Of 250+ Inspirations

 

Complimentary eBooks Provide Valuable Resources For You

FREE eBooks For Tax Professionals

We know you are busy and want to guide you to a very special page we made just for you. We often receive requests for this information and want to make certain you can access and receive these valuable resources.

You can now access United States Tax Treaties, Global Tax Authority Country Representatives, Verify Law Licenses, Verify State CPA Licenses, Learn About Opportunity Zones, Automobile And Truck Depreciation Charts, Motivational Inspirations, 250+ Best Tax Jokes and much more.

Click On This Link To Access As Many Reports As You Like

 

Learn How To Clear Your Cache – Cell Phone And Computer

Clear Cache

We want to make certain you have a fresh view of Virtual Offices in the cloud on your cell phone. Our wonderful IT Team reminded us to tell people to clear their cell phone browsers. For those of you who may not be familiar with what you need top do to clear your desktop or cell phone browser cache, we will give you an important lesson today.

You need to clear your browser cache on your cell phone and computer because it prevents you from using old forms, it helps run applications better, and it protects your personal information. Clear your cache is the first response tech experts advise you to do when you encounter webpage problems.

The browser cache exists because of a basic assumption made by browser designers: the internet is slow. It is always much faster to get something from the hard disk on your computer than it is to get it from the internet. Browser designers noticed that most websites have many of the same elements on multiple pages. For example, if you see a company logo at the top of every page of a website, why download the same logo over and over again on every page you look at? Why not just download it once and then keep a copy so we can display it again without downloading it every time to your desktop computer or cell phone?

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Register To Attend Award Winning Tax Calendar Tour

Award Winning Tax Calendar

Join us for an overview of AKORE TaxCalendar as we cover:

1. Organize all of your client files in one secure place in the cloud.

2. Easy access year after year so you can find client files easily

3. Alerts – Email alerts to avoid fees for missing filing dates

4. Dashboard- quickly sorts and structures your tax client workload

5. Reports- fast access to workflow status, hours, payments, etc.

6. Security- Assign levels of access for staff

7. Keep your clients information safe and secure

The complimentary webinar will be followed by a Q&A session for attendees. Those in attendance will receive a special code to get 14-months of service for the price of twelve.

Register For Complimentary Webinar Thursday,October 10th 2019

Business Due Date Tracking Solutions Tax Calendar – Complimentary Webinar Thursday, October 10th 2019

Akore Tax Calendar

Join us for a high level overview of AKORE TaxCalendar as we cover:

1. Organize all of your client files in one secure place in the cloud.

2. Easy access year after year so you can find client files easily

3. Alerts – Email alerts to avoid fees for missing filing dates

4. Dashboard- quickly sorts and structures your tax client workload

5. Reports- fast access to workflow status, hours, payments, and status

6. Security- Assign levels of access for staff

7. Keep your clients information safe and secure

The complimentary webinar will be followed by a Q&A session for attendees. Those in attendance will receive a special code to get 14-months of service for the price of twelve.

Register For Complimentary Webinar Thursday,October 10th 2019

 

2019 Automobile Depreciation Deduction Charts

AUTOMOBILES IN TRAFFIC

According to IRS Rev. Proc. 2019, this revenue procedure provides: 1) tables of limitations on depreciation deductions for owners of passenger automobiles first placed in service by taxpayer during calendar year 2019; and (2) a table of amounts that must be included in income by lessees of passenger automobiles first leased by the taxpayer during calendar year 2019. The tables detailing these depreciation limitations and lessee inclusion amounts reflect the automobile price inflation adjustments required by 280F(d)(7). For purposes of this revenue procedure, the terms “passenger automobiles” includes trucks and vans.

The Depreciation Charts also include: 1) Depreciation limitations for passenger automobiles acquired before September 28, 2017, and placed in service during calendar year 2019 for which the additional first year depreciation rules apply 2) Depreciation limitations for passenger automobiles acquired after September 27, 2017 and placed in service during calendar year 2019 for which the first year depreciation rules apply 3) Dollar amount for passenger automobiles with a lease term beginning in calendar year 2019.

Access 2019 Chart At This Link

 

Register And Attend Upcoming Tax Calendar Tour And Receive Fourteen Months With Annual License

Akore Tax Calendar

It is simply one of the best tax software tours tax professionals will take this year. This Award Winning Tax Calendar offers two complimentary months added to the low priced annual cost if you register now to attend one of the upcoming tour presentations scheduled after October 15th. This Tax Calendar will organize all your client tax returns for years to come; and is offered at a very low price. This Tax Calendar and Organizer is the very best value for any tax calendar on the market today.

Register for an upcoming tour and discover what this tax calendar offers you and your tax practice. Store all clients securely in the cloud or you can store it on your own; the choice is always yours!

Register today to be invited to the upcoming group webinar where you are given fourteen months to start with an annual license. You must attend one of the upcoming tours to receive this offer.

Register To Be Invited To The Upcoming Group Tour

You Must Register For The Tour And Attend To Receive Offer

This Is A limited Offer. You Will Receive 4 Separate Dates To Attend

A Guide To Opportunity Zones – TaxConnections Congratulates Blake Christian Contributing Author

Guide To Opportunity Zones

“Opportunity Zones” are the talk of the investment community. A tax break and social impact combo punch. It is a new section in our tax code sweeping through the country injecting investments into impoverished areas to revitalize communities.It is estimated that $100 billion in private capital will be dedicated towards creating jobs and economic development in Opportunity Zones, according to U.S. Treasury Secretary Steven T. Mnuchin.

This book is a guide for investors, developers and Opportunity Zone industry professionals. The book aims to provide readers, both investors and newcomers who want to learn about the Opportunity Zone industry, with an overview and understanding of what it takes to strategically and successfully invest in any of the country’s 8,700 Opportunity Zones. “How to OZ” will give you some basics about Opportunity Zones. It will also shed some light on specific nuances when investing in Opportunity Zones and what issues to consider. We are excited about creating social impact and being part of a movement to create change in distressed areas.

Congratulations To Blake Christian Contributing Author

Go To Amazon For Information About This Book

 

Corporate Tax Department Award Winning Tax Calendar

Akore Tax Calendar

One of the most important responsibilities of every corporate tax executive has is keeping track of important tax due dates. Awareness of due dates avoids corporate penalties and late fees. Every company has important due dates for tax returns, extensions, payment of estimated taxes, IRS filings and more. How do you keep track of all of it for a company?

While reviewing more than 1700 different types of software available to tax and financial professionals, we have identified  valuable Tax Calendar software that is powerful and inexpensive. We want to know about this Tax Calendar software because it impressed us the most. The company will even scan and organize all the corporate tax returns for your organization. It is amazing!

Check Out This Tax Calendar Today

– Your Key To A Successful Corporate Tax Function

 

Form 5471: Information Return Of U.S. Persons With Respect To Certain Foreign Corporations

IRS Forms

Certain U.S. citizens and residents who are officers, directors, or shareholders in certain foreign corporations file Form 5471 and schedules to satisfy the reporting requirements of sections 6038 and 6046, and the related regulations.

We have received several inquiries regarding the changes on the IRS Form 5471 regarding information return of U.S. persons with respect to certain foreign corporations. You will find it useful to go to this link to find updated 5471 Forms, Instructions and Updates.

You can also access current Form 5471 Here.