[Haggar]

Originally Posted by Babubhat

Find a CPA with a masters in tax. Once passing the exam you specialize. It’s overkill for routine returns. Every preparer will use software. Remember YOU are responsible for the information on the return.

Why would the taxpayer need a CPA with a masters??

Maybe Trump or Musk would but not the basic taxpayer.

An EA passes an exam to be registered with the IRS.
I'm not sure what continuing ed is for an EA.

A CPA passes a 2 1/2 day exam to get their CPA certificate. A CPA must complete 80 hours of continuing ed every 2 years (including an Ethics course)

It's the continuing education that matters - once you pass any exam you need to keep up with current tax law. And constant reading - the Journal of Accountancy, CPA Today, the National Association of Tax Preparers, the IRS news, the Wall St Journal (the quickest summary of tax laws just passed).

Don't go with an unlicensed tax prepayer. In the IRS e-news received last night a couple preparing tax returns in Rocky Mount, NC was convicted of prepraring over 1000 returns for over a loss to the IRS of over $5,000,000. They're going to prison with the requirement they make restitution to the IRS for $5,200,00!

[RiderOnTheStorm]

Originally Posted by golfing eagles

My accountant in NY of 30 years is retiring---any recommendations for a local replacement?

Maybe you could hire one of the 87,000 new IRS agents that will no longer be hired.

[Bogie Shooter]

Originally Posted by golfing eagles

My accountant in NY of 30 years is retiring---any recommendations for a local replacement?

Originally Posted by RiderOnTheStorm

Maybe you could hire one of the 87,000 new IRS agents that will no longer be hired.

Since there will not be enough agents to do audits, why worry how your taxes are filed?

[retiredguy123]

I wonder how many CPAs could prepare a tax return without using a tax software program.

[brianherlihy]

A lawyer will bill you when he does not a thing

[DAVES]

Originally Posted by Badger 2006

Possibly not needing to rent office space and the related costs ie; hire office staff, utilities, etc can easily offset the gas and maintenance. The convenience for retirees that have a difficult time getting out. Seems like a great idea.

You can bet he deducts his car expense.

[DAVES]

Originally Posted by Bogie Shooter

Since there will not be enough agents to do audits, why worry how your taxes are filed?

I used to be in business. They do not eyeball returns. They have computers review returns and select things that don't make sense.

Thanks to credit card rebates, little business is done in CASH.

An interesting article I read years ago pointed out that our constitution is 4 pages. Our tax code is 186,000 pages.

[DAVES]

Originally Posted by RiderOnTheStorm

Maybe you could hire one of the 87,000 new IRS agents that will no longer be hired.

I think that was 76,000 MORE agents. With benefits that is an expense of well over 100,000 each at starting income. An audit. YOU not the IRS has to pay time, effort, accountant fees to reply even if they realize their inquiry was not justified. The reason why when they audit you they will find something so that you cannot prove abuse.

[DAVES]

Originally Posted by Haggar

Why would the taxpayer need a CPA with a masters??

Maybe Trump or Musk would but not the basic taxpayer.

An EA passes an exam to be registered with the IRS.
I'm not sure what continuing ed is for an EA.

A CPA passes a 2 1/2 day exam to get their CPA certificate. A CPA must complete 80 hours of continuing ed every 2 years (including an Ethics course)

It's the continuing education that matters - once you pass any exam you need to keep up with current tax law. And constant reading - the Journal of Accountancy, CPA Today, the National Association of Tax Preparers, the IRS news, the Wall St Journal (the quickest summary of tax laws just passed).

Don't go with an unlicensed tax prepayer. In the IRS e-news received last night a couple preparing tax returns in Rocky Mount, NC was convicted of prepraring over 1000 returns for over a loss to the IRS of over $5,000,000. They're going to prison with the requirement they make restitution to the IRS for $5,200,00!

Interesting post. Ethics course? Huh?

IRS e-news? Surely BIASED news source. Preparing 1000 returns with a loss of five million. Restitution 5,200,00! MUST BE A TYPO They're going to prison. Far more to this story.

I expect what they did was to file false tax returns and steal refunds.

[Bogie Shooter]

Originally Posted by DAVES

You can bet he deducts his car expense.

And the reason why he shouldn’t?

[Aces4]

Originally Posted by Bogie Shooter

Since there will not be enough agents to do audits, why worry how your taxes are filed?

So you’re promoting incorrect filing? In the event you missed it, those extra agents were only for “business” taxes, not the common man.

[Bogie Shooter]

Originally Posted by Aces4

So you’re promoting incorrect filing? In the event you missed it, those extra agents were only for “business” taxes, not the common man.

Since the bill to add the agents will soon be repealed.....guess somebody else is promoting incorrect filing.

[Aces4]

Originally Posted by Bogie Shooter

Since the bill to add the agents will soon be repealed.....guess somebody else is promoting incorrect filing.

Just the opposite, we pay our taxes due and don’t encourage others “not to worry about filing correctly”. When we sold our business in our home state, we paid the chunk even though we had the ability to hide behind Florida’s skirt.

We believe in supporting our state and country with our taxes. That does not mean we believe in foolish spending.