Category: blog&news

blog&news

TIME TO RENEW YOUR PTIN FOR 2020

Time to renew your PTIN again…IRS is urging tax return preparers to start the upcoming 2020 filing season smoothly by renewing their preparer Tax Identification Number (PTIN) now. all current PTINs will expire December 31, 2019

To renew a PTIN online:

Start at IRS.gov/tax-professionals.

Select the “Renew or Register” button.

Enter the user ID and password to login to the online PTIN account.

Follow the prompts to verify the information and answer a few questions.

Once completed, users will receive confirmation of their PTIN renewal. There is no fee for renewing or obtaining a PTIN for 2020.

To apply for a PTIN online:

Start at IRS.gov/tax-professionals.

Select the “Renew or Register” button and select “Create Account” in the “New User” box.

First-time users are issued a temporary password and will be prompted to change their password upon logging in.

Select “sign up with SSN” once logged in.

Follow the prompts to obtain the PTIN online.

Anyone who prepares or helps in preparing a federal tax return for compensation must have a valid PTIN from IRS before preparing returns, and they need to include the PTIN as the identifying number on any return file with the IRS.

blog&news

DEADLINE FOR FILING 2018 TAX RETURN

It’s almost here… Taxpayers who had previously requested an extension to file their 2018 tax return, this year’s deadline is Tuesday, October 15. If your client is getting a refund, there is no penalty for filing return after April 15th. FYI…they don’t even need to file extension! So, if you have clients for whom you filed an extension please make sure to submit their tax return before October 15.

What if the taxpayer owes the IRS but can’t pay?

If your client has a balance due but can’t afford to pay, there are a few options available to them. Your client can always file their return and wait for a bill in the mail, which is most certainly going to have some interest and penalties charges. They can pay the balance on a credit card, enter into an installment agreement or work out an “offer in compromise.”

blog&news

IRS WARNS ABOUT PROPERTY LIEN SCAM

This is a new version of tax-related scams. This scam involves fake property liens. It threatens taxpayers with a tax bill from a fictional government agency. 

Here are some details about the property lien scam that will help taxpayers recognize it:

This scheme involves a letter threatening an IRS lien or levy. The scammer mails the letter to a taxpayer.The lien or levy is based on bogus overdue taxes owed to a non-existent agency.The non-existent agencies might have a legitimate-sounding name like the “Bureau of Tax Enforcement.” There is no such agency. This scam may also reference the IRS to confuse potential victims into thinking the letter is from a real agency.

For anyone who does owe tax or thinks they might owe should review their tax account information and payment options at IRS.gov. Reviewing tax account information online will show the taxpayer if they indeed owe the IRS and how much. This is the fastest way to get this information. Additionally, they can call the IRS at 800-829-1040 to confirm the notice if they are still not sure. 

blog&news

Mastering the Art of the First Impression

At National Tax Office, we want to put all our entrepreneur clients on the right track when starting a successful business. Since you’ll be meeting with potential clients of your own, one of the most critical things you need to keep in mind is the importance of a first impression. A first impression can make or break a visit with a client. A good entrepreneur will want to give off a feeling of confidence and competence to potential clients. Here are a few tips that you should follow if you want to make your business a success.

Start with a Firm Handshake

First meetings in professional relationships often start off with a handshake. When shaking hands, make sure to use a firm, complete grip and maintain eye contact. A loose, wimpy handshake can signify weakness. A firm handshake indicates to many people that you’re confident, trustworthy, and you have leadership qualities.

Be Courteous

You should always meet any potential client with courtesy and respect. Although most people know about this and try to be courteous, a person can be discourteous without even realizing it. One of the most discourteous things you can do is to constantly check your phone. Whether it’s to send a text or even just to check your mail, it sends a message to a client that you have more important things to do.

Use Positive Body Language

Just like how a good handshake can indicate favorable factors about you, using positive body language can do the same. Make sure your expressions and gestures remain positive. Keep a friendly tone of voice while you’re speaking. Also, maintain eye contact with your client while either of you are talking.

Be an Active Listener

Instead of spending more time thinking about what you’re going to say, make sure to actually listen when your potential clients speak. Don’t interrupt; listen to everything a client says. Also, be sure to ask questions to show that you’re paying attention and you’re interested in the conversation that’s going on.

Humanize Your Conversations

This is something that many professionals and businessmen can forget. Don’t be too stiff. Try to find some common ground in a topic that can be fun for you both (though taxes can be fun too!). Taking a few minutes to befriend and make a connection will go a long way toward turning your potential client into a client.

Contact Us Today!

For the entrepreneur who has paid attention and adhered to the tips, you’re one step closer to gaining the trust of your client and gaining repeat business. If you have any questions or comments, please don’t hesitate to contact us online or by phone at (844) 686-1040. We hope to hear from you soon!

blog&news

How Diet Affects Your Work

Entrepreneurs are constantly looking for ways to improve efficiency and productivity, and if you fit this description, we’ll bet you’ve read countless books, articles, and blog posts on the newest way to enhance your work output. But while you may be up to your eyeballs in time tracking systems and organization tools, there’s one productivity hack we bet you’re not considering: your food.

More Than Just Fuel

For most of us – particularly busy workaholics – food is just fuel. We prepare it (or, more likely, purchase it) and eat it as quickly as we can, eager to get our midday fix and get on back to work. But that’s a flawed analogy, because food gives us more than just energy. Food is literally how the body creates itself on a continual basis, and this constant process of remaking has a big impact on our productivity.

All food is eventually metabolized into glucose, which our brains and cells burn to create energy and keep going. But that metabolizing happens at different rates. For high carb foods, it happens all at once, giving us a boost of energy followed by a crash. For high fat foods, it’s more of a slow burn – but they make our digestive tract work harder, leading to lower brain oxygen levels and a feeling of grogginess. Healthier foods with more lean protein and omega-3 fats lend themselves to a sustained, well-timed release of energy, leaving you motivated, curious, engaged, and productive throughout the entire day.

Contact Your Tax Preparation Business Partners

Once you’ve got your diet optimized for success and are ready to get to work owning your own business, we’re here to help. If you have questions on how National Tax Office can help you start your own tax preparation business, feel free to call us at 844.686.1040, read up on our FAQ, or reach out to us at our contact page with any questions. We can’t wait to hear from you, and we look forward to helping you live the dream of owning your own business.