Chapter Showcase

After a solid day of education, Conference attendees had the chance to unwind and enjoy a little downtime at the annual Chapter Showcase. Attendees got to visit their friends from other NATP Chapters, register for various prizes, and partake of some deeee-licous appetizers! Over 30 Chapters participated, with many holding raffles to raise money for the Angel Kiss Foundation. 

Angel Kiss Foundation was founded in Virginia in 1990 in memory of five-year-old Jarryd. Jarryd was diagnosed with leukemia in 1987, and his grandparents, David and Barbara Rosin, recognized the overwhelming costs associated with the disease, over and above medical expenses. In Jarryd’s memory, the Angel Kiss Foundation was established and named for a birthmark on his cheek, which the family referred to as Jarryd’s Angel Kiss. The Foundation is dedicated to helping all families of children with cancer in Northern Nevada and the eastern Sierra by providing immediate and continuing financial assistance and emotional support. For more information, visit www.angelkissfoundation.org. 

NATP Annual Charity Auction

On the evening of July 21, Conference attendees enjoyed a lively auction to raise money for the Angel Kiss Foundation, an organization dedicated to helping all families of children with cancer in northern Nevada and the eastern Sierra by providing immediate and continuing financial assistance and emotional support. For more information, visit their website at http://www.angelkissfoundation.org/.

The grand total of the amount raised will be announced at the closing banquet on Thursday, July 23.

TIGTA Presentation

J. Russell George, Treasury Inspector General for Tax Administration, started off his presentation with some quick facts. Did you know that the IRS has more than 100,000 employees and collects more than $3 trillion of taxes each year? Wow!
TIGTA routinely investigates the following:

• Tax preparers who overstate his or her qualifications.
• Tax preparers who steal clients’ tax payments and/or refunds.
• Individuals who impersonate IRS employees or use the IRS seal or logo.

He also told us about a tax preparer who got busted for fraudulent activities. This guy would show his clients a tax return showing an amount due. He would then tell the client that he already took care of making payment to the IRS and that the client could write a check to him personally for “reimbursement”. After the client left, he would then prepare a “new” return showing no tax due and file that return with the IRS. He deposited the “reimbursement” in his personal account, and nobody was the wiser… that is until TIGTA got a hold of him.

Jill, NATP Staff

J. Russell George, Treasury Inspector General for Tax Administration

Washington Chapter

Washington State is now officially the 36th Chapter of NATP! During the Chapter Leadership Session, Paul Cinquemani, NATP Director of Chapter Relations, officially welcomed Washington into the fold and presented Chapter President Bill Pate with a check for $1,700 as seed money to get the Chapter up and running.

NATP Chapter Challenge

Thanks to the Nevada Chapter, we kicked off our first Chapter Challenge last night. Teams met and competed in various activities such as bowling, laser tag, and aqua golf. Individual and team awards will be given out today, with the overall champ of the event – the Nevada Chapter.

The Texas Chapter is already excited to bring this challenge to Austin in 2010.

Newcomers Club Wine and Cheese Mixer

Once again NATP is excited about the number of first-time attendees to Conference. An ice breaker “what type of wine are you” quiz encouraged attendees to meet others with similar interest. A good time was had by all.

Susan, NATP Staff

Revised §6694 & New IRS Guidance

Brian Bernhardt, JD gave a very clear presentation this morning on the murky waters of the §6694 preparer penalty. He covered which returns it applies to and who is a preparer (signed and non-signing) that might be subject to the penalty.

Whew! Thanks for walking us through that, Brian!

Jill, NATP Staff

*Did you know that NATP members can listen to a webinar Brian recorded for us earlier this year on §6694? This is a FREE member benefit exclusive to NATP members and lasts 90 minutes. Check it out in Members Only!

Statute of Limitations

Beanna J. Whitlock, EA, CSA

The always popular Beanna Whitlock presented to a full house today. In her session, Statute of Limitations, Beanna discussed how long the IRS can take action on a taxpayer and explored the issues of examination and collection. Attendees left with a thorough understanding of the fundamentals of life with the IRS after the taxpayer files a return.

Here are some practitioner alerts from this session:

• A taxpayer that filed a return with the wrong IRS Service Center may not start running the statute of limitations.
• When sending documents to the IRS certified mail, write the certified mail number on the document. The “green acknowledgement card number” will then match the document.
• Amended returns do not extend the original 3-year statute for assessment of a tax period.
• The statute of limitations for assessment of estate tax cannot be extended by agreement.
• The statute of limitations on collections continued to run while the taxpayer is in temporary hardship. 

Beanna is an author and instructor specializing in IRS taxpayer representation. She is known for her fierce support of the tax professional community and the value the tax preparer community bring to the voluntary compliance system. She has testified before Congress, the IRS Oversight Board, and the U.S. Treasury Department. Beanna has been the owner of a private tax and financial services practice for the past 41 years and served as the Director of the IRS National Public Liaison from 2003-2004.

Faris Fink, NATP Keynote Speaker

Faris R. Fink, IRS Deputy Commissioner SBSE

 Faris Fink, the IRS Deputy Commissioner, SBSE Division, is NATP’s keynote speaker for National Conference. He just finished speaking. Here are some of the topics he addressed. He was very informative as well as humorous.

Offers in Compromise (OIC)

There are 2 main reasons offers in compromise aren’t accepted:

1. Taxpayer does not offer an appropriate amount
2. Lack of information provided.

Fink stated that in light of the downturn in the economy, the IRS is trying to be more flexible and compassionate toward people defaulting on their installment agreements with the IRS.

Small Business/Self-Employed (SBSE)

New tax law has major impacts on taxpayers. Examples include bonus depreciation, increased Sec. 179 expense, and the increased 5 year NOL carryback provision. While the IRS has been criticized in its lack of timeliness for direction regarding these provision, Fink stressed that correct direction is more important than quick direction.

IRS is Hiring!

Fink stated that the IRS is having the biggest hiring he’s ever seen in his 20 years with the IRS. He stated that 65% of revenue agents will have less than 5 years of experience. The future of tax preparation and compliance is going to be one wild ride!

Jill, NATP Staff

Expo Hall

The Expo Hall was packed with attendees. Vendors were busy showing ways that they can help tax professionals save time and money.

Susan, NATP Staff