What is the deadline for submitting compliance documents, and what happens if I miss it?
Compliance documents must be submitted within 15 days after the return has been acknowledged in the accepted status by the IRS. If you fail compliance, you will receive an email with instructions to correct and receive approval.
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How long do I have to provide compliance documents for clearance?
Tax preparers have 15 days after the return is acknowledged by the IRS with an accepted status to submit compliance documents to receive clearance for payment. If document submitted fails compliance, tax preparers have 72 hours to submit updated ...
What documents are required for tax clients to be approved for compliance?
To ensure compliance, we require specific documents from all tax clients, including: Identification for the taxpayer. Identification for the spouse (if applicable). Identification for dependent(s) if applicable. Examples of acceptable identification ...
What is the policy for reporting suspected fraud among tax preparers?
In cases where there is proof of fraud, we conduct a thorough investigation and report all incidents to the IRS in written form, along with evidence.
Tax Tips for Small Businesses: Maximizing Savings and Compliance
Introduction Running a small business comes with its unique set of challenges and responsibilities, and managing taxes is certainly one of them. While it may seem daunting, there are numerous tax-saving strategies, deductions, credits, and compliance ...
What happens if the tax preparer enters incorrect direct deposit information resulting in a check issuance?
If a tax preparer enters incorrect direct deposit information for a tax client, leading to the issuance of a check from our office, a $30 check issuance fee will be assessed to the tax preparer.