3 minutes read
This year conversions from Traditional to Roth IRA’s were way up due to the elimination of income limitations that were previously applied to the conversions. But is converting to a Roth IRA a good idea when it comes to your income taxes? In some cases it is a smart move to convert now and in others the tax implications are far too great.
2 minutes read
The IRS has confirmed that the proposed New Requirements for Federal Tax Return Preparers will begin by the end of this year and will be enforced for the coming tax season in 2011. Tax Return Preparers will be required to register with the IRS by obtaining a Preparer Tax Identification Number (PTIN) which is unique to each Tax Preparer and will allow the IRS to track how many returns and which returns each individual tax preparer prepares each year. Return preparers will be charged an...