Whether you’re filing your personal taxes or launching a tax preparation business, understanding the different types of tax professionals can save you time, money, and potential headaches. Each type has its own qualifications, strengths, and roles in the world of taxes. Choosing the right one depends on your individual or
As a tax preparer, your clients rely on you to get it right. But even the best professionals make mistakes — and in the tax world, even a small mistake can turn into a big (and expensive) problem. That’s where Errors and Omissions Insurance (E&O Insurance) comes in. What Is
In the tax industry, it’s easy to feel like the next big step is becoming a Service Bureau—offering branded software, managing a network of preparers, and reselling licenses. And while that path can be incredibly rewarding, it’s not the only way to build a profitable, successful tax business. Let’s talk
IRS HUB Testing, also known as Controlled Launch, is a preparatory phase conducted by the Internal Revenue Service (IRS) before the official opening of the electronic filing (e-file) season. During this period, the IRS processes a limited number of electronically filed tax returns to ensure system readiness and to identify
If you’re a tax preparer, the idea of an unannounced visit from the IRS might sound stressful. However, these visits—known as “Knock and Talks”—are not meant to intimidate or penalize you. Instead, they’re part of the IRS’s efforts to ensure tax professionals like you are meeting due diligence requirements and
If you’re a tax preparer, you’ve probably heard about IRS audits and the importance of compliance. But let’s be blunt—an IRS preparer audit isn’t just a minor inconvenience; it can destroy your reputation, hit you with severe financial penalties, and even put your business out of operation. Whether you’ve been
