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IRS removes automatic debt indicator, discourages refund anticipation loans
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The Internal Revenue Service has announced that starting with next year's tax filing season it will no longer provide tax preparers and associated financial institutions with the "debt indicator," which is used to facilitate refund anticipation loans (RALs). The trickledown effect is expected to impact large national storefront tax preparation services like Liberty Tax, Jackson Hewitt, and H&R Block, as well as the local tax preparers that provide RALs to clientele.
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The many personalities of tax returns (and the clients behind them)
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Anyone who has prepared tax returns for a number of years likely has come to the conclusion that individual income tax returns have their own personalities as do the taxpayers that they represent. But, did you know there are more than 20 different personalities and characteristics?
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Three arrested in IRS shooting incident
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Attention wannabe robbers: Avoid IRS agents trained in the use of firearms. Three alleged criminals found this out the hard way when two of them ended up shot after trying to rob a woman unloading her car in the parking area of her San Francisco home.
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| Kaplan Weekly Quiz |
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Are you prepared for the CPA exam? Test your knowledge and keep your skills sharp by taking the weekly CPA Exam Quiz, brought to you by Kaplan Schweser CPA Review and AccountingWEB Education & Careers Zone. New questions will be posted for each section weekly. Take this week's quiz. |
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