Tax preparation in the United States

tax preparationtax preparertax filing
Intuit and the tax preparation service H&R Block have disclosed lobbying Congress against setting up a similar system for federal U.S. tax returns. Intuit spent about $3 million on lobbying in California from 2005 to 2010, where it unsuccessfully opposed the ReadyReturn program. Some popular tax preparation software, particularly in the United States includes: The Free File Alliance is a group of tax preparation companies that have partnered with the Internal Revenue Service to provide free electronic tax filing services to U.S taxpayers meeting certain guidelines. *Tax return (United States) * Free Federal IRS e-file Credit Karma Tax. TaxSlayer. TaxACT. H&R Block at Home (formerly TaxCut).

Free File Alliance

IRS Free File Alliance
Free File Software Offers - irs.gov. Free File Software Lookup Tool - irs.gov. Free File: Everyone Can File an Extension for Free - irs.gov. Free File: Do Your Federal Taxes for Free - irs.gov.

Tax return (United States)

tax returntax returnsincome tax returns
Tax returns in the United States are reports filed with the Internal Revenue Service (IRS) or with the state or local tax collection agency (California Franchise Tax Board, for example) containing information used to calculate income tax or other taxes. Tax returns are generally prepared using forms prescribed by the IRS or other applicable taxing authority. Under the Internal Revenue Code returns can be classified as either tax returns or information returns, although the term "tax return" is sometimes used to describe both kinds of returns in a broad sense.

Intuit

Intuit Inc.Intuit, Inc.Intuit Inc
In 2007, Intuit lobbied to make sure taxpayers cannot electronically file their tax returns directly to the IRS by negotiating a deal preventing the IRS from setting up its own web portal for e-filing. In 2009, the Los Angeles Times reported that Intuit spent nearly $2 million in political contributions to eliminate free online state tax filing for low income residents in California. According to the New York Times, from 2009-2014, Intuit spent nearly $13 million lobbying, as reported by Open Secrets, as much as Apple.

Tax refund

tax rebaterefundrebate
Refund anticipation loans are a common means to receive a tax refund early, but at the expense of high fees that can reach over 200% annual interest. In the 1990s, refunds could take as long as twelve weeks to come back to the taxpayer; however, the average time for a refund is now six weeks, with refunds from electronically filed returns coming in three weeks. Some people believe that getting a large tax refund is not as desirable as more accurate withholding throughout the year, as a large refund represents a loan paid back by the government interest-free.

Income tax in the United States

federal income taxincome taxIndividual income tax
Internal Revenue Code (IRC) (legislative authority, written by the United States Congress through legislation). Treasury regulations. Federal court opinions (judicial authority, written by courts as interpretation of legislation). Treaties (executive authority, written in conjunction with other countries). Tier 2. Agency interpretative regulations (executive authority, written by the Internal Revenue Service (IRS) and Department of the Treasury), including:. Final, Temporary and Proposed Regulations promulgated under IRC § 7805. Treasury Notices and Announcements.

United States

American🇺🇸U.S.
The United States of America (USA), commonly known as the United States (U.S. or US) or America, is a country composed of 50 states, a federal district, five major self-governing territories, and various possessions. At 3.8 million square miles (9.8 million km 2 ), the United States is the world's third or fourth largest country by total area and slightly smaller than the entire continent of Europe's 3.9 million square miles (10.1 million km 2 ). With a population of over 327 million people, the U.S. is the third most populous country. The capital is Washington, D.C., and the largest city by population is New York.

Canada

🇨🇦CanadianCAN
Canada is a country in the northern part of North America. Its ten provinces and three territories extend from the Atlantic to the Pacific and northward into the Arctic Ocean, covering 9.98 e6km2, making it the world's second-largest country by total area. Canada's southern border with the United States is the world's longest bi-national land border. Its capital is Ottawa, and its three largest metropolitan areas are Toronto, Montreal, and Vancouver. As a whole, Canada is sparsely populated, the majority of its land area being dominated by forest and tundra.

The New York Times

New York TimesNY TimesTimes
Not to be confused with The Times (of London). See also NYT (disambiguation).

Certified Public Accountant

CPAcertified public accountantscertified public accounting
Along with attorneys and Enrolled Agents, CPAs may represent taxpayers in matters before the Internal Revenue Service (IRS). Although the IRS regulates the practice of tax representation, it has no authority to regulate tax return preparers. Many states also allow unlicensed accountants to work as public accountants. For example, California allows unlicensed accountants to work as public accountants if they work under the control and supervision of a CPA. However, the California Board of Accountancy itself has determined that the terms "accountant" and "accounting" are misleading to members of the public, many of whom believe that a person who uses these terms must be licensed.

Earned income tax credit

earned incomeearned income creditEITC
RALs (Refund Anticipation Loans) are short term loans on the security of an expected tax refund, and RACs (Refund Anticipation Checks) are temporary accounts specifically to wait to receive tax refunds, which are then paid by a check or debit card from the bank less fees. The combination of Earned Income Credit, RALs, and RACs has created a major market for the storefront tax preparation industry. A 2002 Brookings Institution study of Cleveland taxpayers found that 47 percent of filers claiming EIC purchased RALs, as compared to 10 percent of those not claiming EIC.

TaxSlayer

In addition to their paid offerings, TaxSlayer also participates in the IRS Free File Alliance, a nonprofit coalition of industry-leading tax software companies that partnered with the IRS to help millions of Americans prepare and e-file their federal tax returns for free. By participating in this program, TaxSlayer guarantees free preparation and e-filing to taxpayers who meet a set of income criteria. The TaxSlayer Center is a 12,000-seat arena located in Moline, IL, of the Quad Cities region. The stadium is home to the Quad City Mallards, a minor league professional hockey team, and the Quad City Steamwheelers of the Champions Indoor Football League.

Jackson Hewitt

Jackson Hewitt tax centerJackson Hewitt Tax TipsJackson Hewitt, Inc.
In 1986, the same year the Internal Revenue Service first began to experiment with computerized tax filing, the company began selling franchises. By the following tax season there were 22 offices. In October 1989, the Montgomery Ward department-store chain contracted with Jackson Hewitt to open offices in 169 stores across the United States. For years, Sears – a competitor of Montgomery Ward – had been host to H&R Block in its stores. The sudden growth was too much for the company and to avoid entering bankruptcy during tax season, Jackson Hewitt closed 67 of those offices.

H&R Block Tax Software

There are a variety of software and online products including, H&R Block Online Free, H&R Block Online Deluxe, H&R Block Online Premium, H&R Block Basic Tax Software, H&R Block Deluxe Tax Software, H&R Block Premium Tax Software and H&R Block Premium & Business Tax Software. Either the online or software versions will prepare and file one's federal and state income tax returns with the IRS with the option of electronically filing (e-filing) and direct depositing an applicable tax refund into a specified bank account. The competitors for H&R Block software are TurboTax and TaxAct. H&R Block Online Tax Filing. H&R Block Tax Software. The New York Times: Best Tax Software Reviews.

Instant Tax Service

Instant Tax Service was, until a federal court ordered its closure as part of a fraud lawsuit, based out of Dayton, Ohio, and specialized in tax preparation, electronic filing, and refund anticipation loan services. Founded in 2000 by Fesum Ogbazion, the company was the second venture for Ogbazion, who cut his teeth in the tax industry with the founding of Instant Refund Tax Service in Cincinnati, OH in 1994. Ogbazion sold Instant Refund Tax Service to Fortune 500 giant Jackson Hewitt in 1999 and used the proceeds from the sale to start Instant Tax Service. In 2009, Instant Tax Service was ranked #93 on the nation's top 500 fastest growing companies list by Inc. Magazine.

Social Security number

social security numbersSSNsocial security card
Internal Revenue Code section 6109(d) provides: "The social security account number issued to an individual for purposes of section 205(c)(2)(A) of the Social Security Act [codified as ] shall, except as shall otherwise be specified under regulations of the Secretary [of the Treasury or his delegate], be used as the identifying number for such individual for purposes of this title [the Internal Revenue Code, title 26 of the United States Code]." The Internal Revenue Code also provides, when required by regulations prescribed by the Secretary [of the Treasury or his delegate]: According to U.S.

Kansas City, Missouri

Kansas CityKansas City, MOMissouri (Kansas City)
The Internal Revenue Service maintains a large service center in Kansas City that occupies nearly 1400000 sqft. It is one of only two sites to process paper returns. The IRS has approximately 2,700 full-time employees in Kansas City, growing to 4,000 during tax season. The General Services Administration has more than 800 employees. Most are at the Bannister Federal Complex in South Kansas City. The Bannister Complex is also home to the Kansas City Plant, which is a National Nuclear Security Administration facility operated by Honeywell.

IRS tax forms

Form 990tax formsIRS Form 990
IRS e-file. IRS Volunteer Income Tax Assistance Program. Taxation in the United States.

Electronic Tax Administration Advisory Committee

ETAAC’s primary purpose is to provide continued input into the development and implementation of the Internal Revenue Service’s strategy for electronic tax administration. ETAAC researches, analyzes, considers and makes recommendations on a wide range of electronic tax administration issues. Each June, ETAAC presents an annual report to the United States Congress on the IRS’s progress with electronic tax administration. ETAAC also provides an organized public forum for the discussion of electronic tax administration issues in support of the overriding goal that electronic filing should be the preferred and most convenient method of filing tax and information returns to the IRS.

Modernized e-File

Modernized e-File (MeF) is an electronic system for filing tax returns with the Internal Revenue Service (IRS) of the United States. The MeF system describes tax forms in terms of XML and supports web-based filing. Modernized e-File was originally introduced in 2004, exclusively for corporate tax returns. Initially, there was only support for Form 1120 and related forms, but each year additional corporate tax forms were supported. Beginning with tax year 2009, the IRS will extend the Modernized e-File program to cover the 1040 series of forms for income tax returns filed by individuals. The IRS expects to accept the first MeF-based individual income tax filings in 2010.

Australia

🇦🇺AUSAustralian
Australia, officially the Commonwealth of Australia, is a sovereign country comprising the mainland of the Australian continent, the island of Tasmania and numerous smaller islands. It is the largest country in Oceania and the world's sixth-largest country by total area. The neighbouring countries are Papua New Guinea, Indonesia and East Timor to the north; the Solomon Islands and Vanuatu to the north-east; and New Zealand to the south-east. The population of million is highly urbanised and heavily concentrated on the eastern seaboard. Australia's capital is Canberra, and its largest city is Sydney. The country's other major metropolitan areas are Melbourne, Brisbane, Perth and Adelaide.

United States Congress

CongressU.S. CongressCongressional
The United States Congress is the bicameral legislature of the Federal government of the United States. The legislature consists of two chambers: the House of Representatives and the Senate.

Supreme Court of the United States

Supreme CourtUnited States Supreme CourtU.S. Supreme Court
The Supreme Court of the United States (sometimes colloquially referred to by the acronym SCOTUS) is the highest court in the federal judiciary of the United States. Established pursuant to Article III of the U.S. Constitution in 1789, it has original jurisdiction over a small range of cases, such as suits between two or more states, and those involving ambassadors. It also has ultimate (and largely discretionary) appellate jurisdiction over all federal court and state court cases that involve a point of federal constitutional or statutory law.

Government Accountability Office

GAOGeneral Accounting OfficeU.S. Government Accountability Office
Its work cuts across a diverse array of government programs administered by IRS, the Centers for Medicare and Medicaid Services, the Department of Veterans Affairs, and the Department of Homeland Security, among others. After the closing of the Office of Technology Assessment (OTA) in 1995, Congress directed GAO to conduct a technology assessment (TA) pilot program. Between 2002 and 2006, four reports were completed– use of biometrics for border security, cyber security for critical infrastructure protection, technologies for protecting structures in wildland fires, and cargo container security technologies.