Taxpayers’ Tasks To Get Ready For 2020; The Internal Revenue Service (IRS) reminds all tax professionals throughout United States for reviewing their e-Services account and to get ready for 2020 by performing specific tasks. To review the e-Services account is very important so as to make it sure that all of the contact information is accurate as well as users can be removed and added. If you are a business or individual taxpayer in the United States, then complete a list of other important tasks along with reviewing e-Services information now to get ready for 2020. Recently, IRS notified to get ready for taxes with tax credits as well as to file 2019 federal income tax returns in USA. For more updates, keep visiting our News page that brings all the latest finance, taxation, accounting and other related latest information from IRS.
To-Do-List for Taxpayers in USA in 2019:
The taxpayers in USA are required to complete the following tasks before 2020. These tasks make them compliant with the IRS rules and regulations and they can get ready for the next year by completing these important checks for the rest of the year 2019, Taxpayers’ Tasks To Get Ready For 2020:
1. Update e-Services Information:
- In order to assist tax professional in United States, the E-Services suite is designed with variable tools and features. Some of the main tools of e-Services include e-file application, the Transcript Delivery System (TDS) in addition to a secure mailbox. The complete guide to access your online IRS e-services account is available that requires the new users to register and verify their identities first of all by using Secure Access
- In order to ensure that all contact information is accurate, it is necessary for the principals, principal consents or authorized responsible officials/delegated users that they must update their respective e-file applications. On the other hand, those individuals who are not associated with the firm anymore must be removed from the application.
- It is necessary for the new delegated users that they must be added to the e-file application. In order to avoid any kind of delay to access client transcripts, it is vital for the firms that will require using the e-Services TDS to guarantee that the suitable people are approved on the application.
- New e-file applications must be submitted by those firms that open new offices with electronic transmissions occurrence system. In order to get all details about what these firms are required to do further, please review Publication 3112, IRS e-file Application and Participation (PDF).
- It is also reminded by the IRS to the taxpayers that Electronic Filing Identification Number (EFIN) is not transferrable. Furthermore, EFIN cannot be sold, rented, leased, or provided with software purchased. Only the IRS has the authority to provide the Electronic Filing Identification Number (EFIN). On the other hand, those providers who are involved in selling, transferring or closing their business operations must report the IRS within a period of 30 days. You can also request callback to update e-Services information with our professional assistance.
2. Renew PTINs:
- A Preparer Tax Identification Number (PTIN) is required for any person in the United States, who wants to prepare or helps to prepare the tax returns for the compensation.
- Renewal of Preparer Tax Identification Number is done each year. You can renew PTINs for free now for 2020 with our assistance. Follow the same link to get complete help regarding online renewal of Preparer Tax Identification Number (PTIN) and what the IRS other considerations regarding PTINs.
- To renew or register for PTINs for the 2020 filing season, the taxpayers throughout United States are given a deadline of 31st December, 2019. Contact us to get all other information regarding renewal procedure with charges for Preparer Tax Identification Number (PTIN) in USA.
3. Review FTC Security Uphold:
- The Federal Trade Commission requires all paid taxpayers in USA that a written information security plans must be present for them, no matter what is the size of firm.
- A general idea of essential security measures with information in relation to the FTC’s Safeguards Rule is available in Publication 4557, Safeguarding Taxpayer Data (PDF) from the IRS.
- Furthermore, the digital security of the offices is also required to be protected by the tax professionals. This can be done by hiring a cyber-security expert. Not only this, taxpayers are required to carry out a “deep scan” for viruses on all digital devices present in the vicinity.
- Taxes-Security-Together Checklist provides the complete list of security tips for tax professional in USA. Along with protecting your PTIN and EFIN from theft, IRS also reminds taxpayers about the latest social security number cancellation scam in USA.
4. Update Power Of Attorney/ 3rd Party Authorization Records:
- Tax professionals in USA are required to review their concerning records who possess existing power of attorney or third-party authorization (i.e. Forms 2848 and 8821) for clients, its another important thing as Taxpayers’ Tasks To Get Ready For 2020.
- If in case the taxpayer is no longer a client and wants to end the authorization, then he/she is required to submit revocations for this purpose.
- Publication 947, Practice before the IRS and Power of Attorney (PDF) can be reviewed to get help and assistance regarding the authorization revocation instructions in USA for taxpayers so that their records can be safeguarded.
5. Review Practitioner Priority Service (PPS) Options:
- For any account-related concern, the very first point of contact by the taxpayers is the Practitioner Priority Service (PPS). All taxpayers are required reviewing the PPS page available on the IRS.gov before making a call.
- For other faster solutions, you can book an appointment with Black Ink to get solved all your taxation related problems in USA. From tax preparation services to tax planning assistance, we have a wide range of services.
- Taxpayers can also use IRS e-Services and the Transcript Delivery System to obtain the client’s transcripts quickly. Account transcripts, wage and income documents, tax return transcripts, and verification of non-filing letters online can also be received, once the tax professional gets registered to the e-Services.
- PPS representatives provide help to the taxpayers after their identity verification. For this purpose, taxpayers are asked about their date of birth as well as Social Security number in USA.
6. Discover Local Stakeholder Liaison:
- Taxpayers can get help from IRS all across the United States with the IRS specialists nationwide about nay matter, including security breach affecting clients.
- Taxpayers can contact the local IRS Stakeholder Liaison without delay if any type of data theft occurs to them.
7. Register To E-News & Subscribe To Quick Alerts:
- The IRS provides the facility to the taxpayers that they can get registered for e-News as well as subscribed for quick alerts.
- Multiple registration-based list-services are offered by the IRS for the assistance of tax professionals. Registration to e-News for Tax Professionals as well as additional IRS subscriptions are available as weekly summary of news releases with assistance.
- Tax professionals can also get the aid of IRS social media platforms or they can subscribe to the quick alerts to keep themselves updated.
- You can also visit Black Ink’s blog & news page to get all the latest happenings in the IRS system to stay complaint in USA.
For further taxation & accounting services in USA, visit our website and choose the best service for you in the unbeatable rates and quality for clients. So that was the reminder as Taxpayers’ Tasks To Get Ready For 2020.