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Month: April 2017

Private Companies Collecting Taxes

In April 2017, the IRS began using private debt collection companies to collect inactive tax debts.  Taxpayers should be extremely careful to verify the legitimacy of the correspondence from any debt collection company by calling the IRS if they are contacted by such a company.  This is especially true in light of the high volume of tax collection scams that have been recently occurring. The...

The Importance of Encryption

As the filing due date approaches, last minute communications with clients happen at a fast and furious pace.  It is vital to make sure that client information is still being properly safeguarded.  All attachments to emails should be encrypted with passwords or sent via a secure portal.  No sensitive information should be included in the body of an email.  Attachments should never be sent via...

Important Logistics for Individual Extensions

When preparing extensions for individual income tax returns, practitioners should communicate with clients about the specifics used to prepare the extensions, and such communications should be in writing.  It is vital to tell clients about the estimates and assumptions that were used for missing items.  It is also vital to warn clients that the client could be subject to penalties and interest,...