Tax season is almost over and finally all of the pressure to “buy, buy, buy” with our refund will subside. But, thousands of taxpayers chose a different path this year – they chose to take a portion of their refund and save into U.S. Savings Bonds. In fact, since 2010, over 100,000 people have benefited from tax time savings bonds totaling more than $40 million. At D2D, we have been trying to increase the financial security of Americans for over a decade and very few innovations have been more successful or promising than tax-time savings. Read the rest of this entry
In response to a notice for written comments from the IRS, NCTC issued official comments on the approval process for continuing education providers and provider accrediting organizations in relation to the ongoing implementation of new paid preparer regulations.
The following comments were submitted by NCTC to the IRS on August 17, 2011 in response to an official request for comments on the approval process for continuing education providers and the accrediting organizations of these providers.
The comments focus on a need for continuing education providers to demonstrate their practical knowledge and skills of both tax law and their abilities to address the needs of our nation’s low-income taxpayers. NCTC also recommends the IRS consider a fast-track process for approving VITA programs as providers as well as an approval process for national and regional coalitions of VITA programs with proven training records to serve as accrediting organizations. Read the rest of this entry
Pilot program will seek to identify ineligible EITC claimants and eligible individuals who do not claim the EITC through state data. Read the rest of this entry
While the tax time savings bond program is safe, your help is needed to ensure our clients are being served!
This week the Treasury Department officially announced that they are eliminating the paper savings bond program (the over the counter program) as of January 1, 2012. Some good news (and a result of our shared effort) – the tax time program will still continue – tax filers will still be able to split their refund into Series I paper bonds. Tax time will be the only time that Americans can purchase paper savings bonds. Read the rest of this entry