Reminders for the Upcoming Filing Season

January 11, 2012

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As preparers get ready for the start of the 2012 Tax Season, there are some things that they need to know:

The start of the filing season is Tuesday, January 17, 2012.
- To read more about the start date see the IRS 2012 Kick Off News Release
Acknowledgements will not be delayed at the beginning of the season.
If preparers have not already done so, they must renew their PTIN before they begin preparing TY 2011 returns.
If preparers still need to renew their PTIN, they need to go to www.irs.gov/ptin.
Form 8867 (Paid Preparer Earned Income Credit Checklist) will be transmitted with all returns that are claiming EITC this year.
Stock sales will now be entered on new Form 8949 (Sales and Other Dispositions of Capital Assets). Also, when entering sales on Form 8949 there are new fields that may be required to be filled out.
- To ensure that preparers understand how information should be entered on this new form, they need to make sure they review the Form 8949 Instructions on the IRS website.
All preparers that expect to prepare more than 10 Federal returns must file all of their individual Federal returns electronically.

TY 2011 Federal Tax Law Updates

Click on the button below to view a video presentation of the Federal Tax Law Updates that affect TY 2011.

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