Experienced Tax Preparer

Job description

Now Hiring Experienced Tax Preparers and Accountants $21-$32 hr

MKG TAX CONSULTANTS is seeking customer-focused people to join our team!

Who we need:

  • Must be licensed or able to obtain a license in order to be hired.
  • MKG Tax Consultants provides training for qualified individuals that meet company standards.
  • California law requires anyone who prepares tax returns for a fee within the State of California and is not an exempt preparer to register as a tax preparer with the California Tax Education Council (CTEC). Exempt preparers are California-certified public accountants (CPAs), enrolled agents (EAs), and attorneys who are members of the State Bar of California.
  • As of January 1, 2005, the California Franchise Tax Board (FTB) has the authority to identify and penalize unregistered tax preparers.

“Failure to register as a tax preparer with the California Tax Education Council, as required by Section 22253 of the Business and Professions Code , unless it is shown that the failure was due t reasonable cause and not due to willful neglect.
(1) The amount of the penalty under this subdivision for the first failure to register is two thousand five hundred dollars ($2,500). This penalty shall be waived if proof of registration is provided to the Franchise Tax Board within 90 days from the date notice of the penalty is mailed to the tax preparer.
(2) The amount of the penalty under this subdivision for a failure to register, other than the first failure to register, is five thousand dollars ($5,000).”

MKG Enterprises Corp. D/B/A MKG Tax Consultants understands that great people are the key to great companies. We are looking for intelligent, hard-working, passionate individuals that want to be part of something very different. We need people that dream big and possess a work ethic that will inspire those around them. We are seeking forward-thinking people, who produce results rather than wait for them. You will not be micromanaged, but you will need to meet specific expectations and it will be entirely up to you to make sure that this happens. You will be backed by one of the strongest, most supportive, and most technical digital marketing organization leadership teams in the industry and we are all committed to the success of the enterprise.

Our seasonal Tax Preparers perform a variety of activities related to income tax preparation, sales and the delivery of excellent customer service. This position has access to and regularly works with information of a sensitive, highly confidential nature; and regularly deals with diverse matters that require a working knowledge of the business.

Responsibilities

  • Conducts a thorough in-person interview with potential clients, using the company propriety tax software application.
  • Delivers exceptional customer service by anticipating customer needs and considering the impact of all decisions/actions on the customer.
  • Presents the Company value proposition to clients concerning various company products and services and uses prescribed selling techniques.
  • Completes all related tax forms in accordance with policies, and in compliance with legislation and regulations.
  • Furnishes taxpayers with sufficient information and advice to ensure correct tax form completion.
  • Consults tax law reference materials to determine procedures for preparation of atypical returns.
  • Answers questions and provide future tax planning to clients.
  • Reviews financial records such as income statements and documentation of expenditures to determine forms needed to prepare tax returns.
  • Researches tax related questions and issues, and responds to clients appropriately and within a timely manner.
  • Resolves client complaints, or refers situations to supervisor (as appropriate) for resolution.
  • Audits all tax return forms for accuracy and completeness (i.e., client signatures).
  • Checks the on hold drawer daily and contacts clients for additional information, as necessary, to insure accurate completion of tax returns.
  • Monitors on-site client volume and advises supervisor when additional tax preparers are required.
  • Participates in call campaigns and other marketing activities.Other job duties as assigned.

Requirements

  • High School Degree or equivalent related business experience.
  • Course of study in tax preparation and/or accounting preferred.
  • Previous experience in tax preparation and filing a plus.
  • Good communication, interpersonal, and customer service skills.
  • Basic knowledge of computer functions is required.
  • Must be able to obtain certification by the state with a PTIN (Preparer Tax Identification Number)
  • Top candidates for this position will have retail experience providing exceptional customer service and performing multiple tasks in a fast-paced environment.

California Law Requirements

  • All CTEC Registered Tax Preparers (CRTP) must…
  • First complete 60-hours (45 hours federal and 15 hours state) of qualifying tax education from a CTEC Approved Provider
  • Obtain a PTIN (Preparer Tax Identification Number) from the IRS
  • Provide proof of a $5,000 tax preparer bond
  • Register with CTEC within 18 months from the completion date on the certificate of completion
  • Registration Fee with CTEC

Licensed Tax Preparers requirements

  • To renew your registration all CRTPs must…
  • Complete 20-hours (10 hours federal tax law, 3 hours federal tax update, 2 hours of Ethics and 5 hours for State) of continuing tax education each year.
  • Maintain a valid PTIN (Preparer Tax Identification Number) from the IRS
  • Maintain a $5,000 tax preparer bond
  • Renew the registration by October 31st of each year
  • Renewal Registration with CTEC

Contact your local recruiter if you have questions about licensing requirements at (559) 337-5990 or contact us if this job interests you or find out more about other job opportunities.

Job Type: Part-time

Salary: $1,920.00 per month

Experience:

  • Accounting: 1 year (Required)
  • Customer Service: 1 year (Required)

Education:

  • High school or equivalent (Required)

Location:

  • Fresno, CA 93726 (Required)

License:

  • Driver’s License (Required)
  • IRS PTIN (Required)
  • CTEC (Required)

Language:

  • English (Required)
  • Spanish (Required)

California Middle-Class Tax Refunds More Then $600 Considered Taxable Federal Income

The MCTR payments may be considered federal income. As such, 1099-MISC for MCTR payments of $600 or more will be issued. You should consult the IRS or a tax professional regarding the federal tax treatment of these payments.

The Middle Class Tax Refund payment is not taxable for California state income tax purposes.

Download our tax-filing app for all our your personal and business tax needs.

2022 Tax-Filing Season Begins Jan 24

The Internal Revenue Service (IRS) has announced that taxpayers can begin filing their 2021 tax returns on Monday, January 24, 2022

The Jan. 24 tax-filing start date for 2022 is 19 days earlier than 2021’s start date of Feb. 12.

At the same time, the IRS warns that the upcoming filing season could be frustrating for taxpayers and tax preparers alike due to pandemic-related delays, a backlog of unprocessed returns from 2021, and years of budget cuts that have made the agency’s job more difficult.

KEY TAKEAWAYS

  • Taxpayers can begin filing 2021 tax returns Monday, Jan. 24, 2022, 21 days earlier than last year.
  • The IRS has warned there could be delays in issuing refunds in 2022 due to issues related to the pandemic, budget cuts, and unprocessed returns from 2021.
  • The tax agency cautions taxpayers to file as early as possible after Jan. 24 and to make sure they have their paperwork in order.
  • The IRS suggests taxpayers look for help online and use phone lines only if necessary.
  • The agency says if you file electronically, choose direct deposit, and, assuming there are no issues with your return, you should get your refund within 21 days.

To avoid processing delays and speed refunds, the IRS urges people to follow these steps.

  • Gather your 2021 tax records including Social Security number, Individual Taxpayer Identification Number, Adoption Taxpayer Identification Number, and this year’s Identity Protection Personal Identification Number for calendar year 2022.
  • Check IRS.gov for the latest tax information, including the latest on how to reconcile advance payments of the Child Tax Credit or claim a Recovery Rebate Credit for missing stimulus payments.
  • Make sure you report correct amounts for any Economic Impact Payments or advance Child Tax Credits received in 2021.
  • If you need help, use online resources such as MKG Tax Consultants registered return tax preparer Tax Filing Mobile App instead of calling. Calling the IRS should be a last resort.
  • Even if you are not normally required to file a tax return, you need to do so in order to claim a Recovery Rebate Credit, to receive a tax credit from 2021 stimulus payments, or to reconcile advance Child Tax Credit payments.
  • File electronically and request direct deposit.

If you request an extension to file by April 18 (or 19), you have until Monday, October 17, 2022, to submit your 2021 tax return. You must pay your estimated taxes, however, by the regular tax filing deadline of April 18 (or 19)

Things That May Delay Your Refund

Even though you can file your tax return as soon as Jan. 24, 2022, by law the IRS cannot issue a refund involving the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) before mid-February. The purpose of the law is to prevent fraudulent refunds from being issued.

Download MKG Tax Consultants covid free Tax Filing Loan Originator Mobile App and Get Your Max Tax Refund

https://mkgtax.wpengine.com

Venmo, Cash App And Other Payment Apps To Report Payments Of $600 Or More

If you receive $600 or more payments in total for goods and services through a third-party payment network, such as Venmo, Cash App, or Zelle, these payments will now be reported to the IRS.

The new rule results from the American Rescue Plan signed into law in March 2021 and will mainly impact business owners using third-party payment network providers. The IRS is cracking down on payments received through apps, such as Cash App, Zelle or Paypal to ensure those using the third-party payment networks are paying their fair share of taxes.

Previously, the IRS only required third-party payment networks to report payments that met both of the following reporting requirements:

  • Gross payments that exceed $20,000, AND
  • More than 200 transactions within the current year.

Beginning Jan. 1, 2022, third-party payment networks will be required to send users Form 1099-K for transactions made by mail or electronically. This means you don’t have to worry just yet: The new tax reporting requirement will impact your 2022 tax return filed in 2023.

Here’s how the new tax reporting will work.

Your New 1099-K Tax Reporting Requirements

Starting Jan. 1, 2022, You will receive Form 1099-K from third-party network providers for income received through electronic forms of payments by Jan. 31 of the following year.

In the near future, companies like PayPal, Zelle or Cash App may request additional information from you to properly report your transactions on your Form 1099-K. You may be asked to provide your Employer Identification Number (EIN), Individual Tax Identification Number (ITIN) or Social Security Number (SSN) if this information is not on file.

Your Form 1099-K will include payments from credit cards and online payments. You are required to report any income listed on your Form 1099-K from your taxable transactions on your income tax return.

Will Venmo, Cash App and Zelle Users Have to Pay a New Tax?

For Venmo, Cash App and other users, this may sound like a new tax—but it’s merely a tax reporting change to the existing tax law.

Form 1099-K is a tax form sent to users that may include both taxable and nontaxable income sources. A taxable source of income is included in your income, such as wages, rents, tips, and retirement income. Whereas a nontaxable source is excluded from your income and you will not need to report on your tax return.

Some examples of nontaxable income are:

  • Money received from a friend as a reimbursement
  • Money received from a roommate to pay their share of the rent
  • Money received from a loved one as a gift

Also, if you receive money from selling a personal item at a loss, you are not required to report the amount on your tax return. For example, if you purchased a dress for $100 and sold it for $50, the amount is not taxable.

But while the new law does not create a new tax, you must keep good records of any taxable income received.

How to Keep Good Records for Tax Reporting

Since your Form 1099-K may include both taxable and nontaxable income, keeping good records is essential. You want to select a recordkeeping system that clearly reflects your income.

You should maintain records such as bank statements, receipts, invoices and other financial documents to reflect taxable income. You can consider saving your records either in electronic form or manually.

If you are a business owner, it is a good idea to set up a third-party network platform, such as Cash App, Zelle, or Venmo, separately for both your business and personal transactions. This way, you can easily track business transactions.

Also, keeping good records can be beneficial to prove both taxable and nontaxable income sources if the IRS audits your tax return.

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