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CSTC Newsletter

October 2019

In This Issue...

  1. From the President
  2. Purchase the 2019 Fall Forum Handouts
  3. Want to Speak at a CSTC Chapter Meeting?
  4. Get Social with CSTC!
  5. VeriFyle 2019 October Virtual Training
  6. October 2019 Chapter Events
  7. Welcome New CSTC Members
  8. Legislative Advocacy
  9. News from the IRS
  10. Join CSTC!

CSTC Member Benefits

CSTC members have access to benefits such as free payroll processing services for your tax practice, and the opportunity to earn new revenue through their flexible partnership options.

CSTC is pleased to include the VeriFyle ProTM premium secure online document and message sharing service at no cost to CSTC members!

Wolters Kluwer: Discounts on Tax, Accounting & Audit Resources, Software, Information & Services. 

 CSTC members receive the TaxBook WebLibrary at a special price

Other Member Benefits Include:

$ Savings on all Society Educational Events

$ Savings on Contact, Correspondence & Self Study Education

$ Savings with member specialty CSTC Connects (previouslyYellow Pages) list

$ Savings with E & O Insurance, plus specialty coverage relevant to your profession

$ Online CSTC Find-a-Tax Consultant search to help promote your business!

$ CSTC Member Listserv

Office Depot has partnered with us to provide exclusive savings in-store and online, plus fantastic additional benefits. This program is all about providing preferred pricing to our clubs, and the savings extend to almost every item.

Savings include 20% to 55% off item office supply core list, 20% to 55% off retail on cleaning  & break room items, 10% off branded; 20% off private brand  ink & toner core list, Average 10% off  retail on 200 technology core items, Free next-day shipping on orders of $50 or more, and SIGNIFICANT savings on copy & print. Become a CSTC member to sign up for our Office Depot Small Business Savings Program, administered by Excelerate America.


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If you are interested in buying or selling a practice, contact us today! ATB is operated by Enrolled Agents ensuring a complete understanding of our profession. Please give us a call at (855) 428-2225 or visit us online at www.ATBCAL.com for more information and to view our current listings.
CA DRE 02002824

 

CSTC Mission

CSTC advances professionalism within the tax industry by:

  • Providing quality education
  • Creating networking opportunities
  • Advocating professional standards

 

From the President

FOLLOWING UP . . . 

Briefly, I would like to update you on what I said in my September President’s Letter. The letter explained that I am training for a 50-mile mountain bike race with my son Ryan and how I failed to appreciate how hard it will be. My first long training ride turned out to be pretty scary when my body started shivering in the heat and I got terrible cramps in both legs. My research (now I can call it “experience”) taught me that my body needs water and electrolytes when it is pushed hard for a long time. Now I know! More rides with better nutrition, fluids, and electrolytes proved it. Since my September post, I have successfully ridden four long rides of 36, 33, 38, and 28 miles and have fared pretty well. No shivering or heat exhaustion, but cramps showed up again when I pushed too hard on fatigued legs. Like I said in my post “never underestimate the value of experience.” There is more to learn, but I hope I have learned enough to survive the big race. 

Never underestimate the value of experience. Never under-appreciate your own experience and expertise. Our clients pay us their hard-earned money for our hard-earned expertise. Brene Brown, in her life-changing book “The Gifts of Imperfection” teaches us that we need to stop trying so hard to please others and focus more on being true to who we are. Knowing that you are the trained expert and that you are competent and capable of taking care of clients should empower you to charge appropriate fees and take on the cases that you want to. The ability to be comfortable with who you are and what you are capable of comes with experience and practice. Just as training for a bike race or preparing for a tough tax season requires experience and time, so does learning to appreciate ourselves enough to be “good” with who we are. As we learn to be OK with our imperfections, we learn to be OK with the imperfections of others. A wonderful side benefit of being OK with ourselves and others is that we are willing to serve and make sacrifices for them. The result of serving others is that we love and care for them more, and they will often reciprocate.

Thank you all for serving CSTC and our wonderful tax profession.

Keep up the great work! Keep sharing the benefits of CSTC with your friends and colleagues!

Gary Quackenbush
CSTC President

Purchase the 2019 Fall Forum Handouts!

Wishing you had a way to find answers to all those burning Exempt Organization questions?  Wondering what the Franchise Tax Board and the Attorney General’s Office had to say?  Not sure how to record donations in your client’s books? Well, you’re in luck!  The handouts that had once only been available to our attendees can now be yours!  

Topics include: Accounting for Nonprofits, Hot Topics from the IRS, California Attorney General’s Supervision of Charities and Fundraisers, Information from the Franchise Tax Board, and Taxes for Non-profits with emphasis on areas of taxation unique to exempt organizations including fundraising, reporting donations, Unrelated Business Taxable Income, and more!

Purchase all the materials for the 2019 Fall Tax and Accounting Forum: Nonprofits – From Exemption to Efile for just $225 for members and $300 for non-members.  

Click here for purchase and immediate download.

Want to Speak at a CSTC Chapter Meeting?

Increase your visibility throughout the tax preparer community by becoming a chapter meeting speaker! The California Society of Tax Consultants (CSTC) provides quality tax education for tax professionals, including CTEC-registered preparers, Enrolled Agents, CPAs, and attorneys. 

We are on the lookout for speakers to present professional tax education at our various chapter meetings and events. If you would like to be added to the databank of speakers willing to speak at chapter meetings, please take a moment to complete this very short form. The databank will be made available to the leadership of each chapter, and they will contact you directly when looking for a speaker.

Please be aware that we do not accept any sessions that are product demonstrations or sales pitches.

Click here to sign up for the databank

Get Social with CSTC!

We are very excited to announce that CSTC is live on three social media platforms! 

Get social with us and always know what’s going on! Connect with us on Facebook, Instagram, and LinkedIn to have access to all the latest Industry News, Upcoming Events, IRS Tips and Tricks, Special Offers and More!

Come chime in and join the conversation. Click any of the buttons below and give us a follow!


 

 

 

 

October 2019 VeriFyle Virtual Trainings

CSTC and VeriFyle have partnered to offer all CSTC members access to VeriFyle ProTM, VeriFyle’s premium secure online document sharing and messaging service at no cost to CSTC members. 

VeriFyle is an extremely simple-to-use cloud storage and sharing tool that offers the most powerful encryption technology available on the web (Cellucrypt®), using six unique encryption keys for each individual item stored or shared in VeriFyle.

Not only does VeriFyle help to keep your communications private and secure, but it also provides a polished and professional way to present yourself to existing and prospective clients.

CSTC and VeriFyle are pleased to provide CSTC members with a secure way to share business documents and messages with clients, colleagues, employees, and other business associates.

VeriFyle will be conducting two virtual trainings for CSTC members in October. Information on how to access the training will be sent directly to CSTC members. Please add the below dates to your calendar so you don't miss out!

VeriFyle Training #1
Tuesday, October 8 at 3:00 pm

VeriFyle Training #2
Wednesday, October 9 at 9:00 am 

October 2019 Chapter Events

October 1, 2019
Topic: ITIN Updates
East County San Diego Chapter Meeting
1 Federal Update Hour

Topic: Marijuana Taxation in California
East County San Diego Chapter Meeting
2 California Hours

October 2, 2019
Topic: Dependency Detective
Temecula Valley Chapter Meeting
2 Federal Tax Law Hours

Topic: Ethics
San Francisco Bay Chapter Meeting
2 Ethics Hours

October 3, 2019
Topic: Business Bootcamp
Wine Country Chapter Meeting
3 Federal Tax Hours

Topic: ITIN: Update of Recent Changed
San Gabriel Valley Chapter Meeting
2 Federal Tax Law Hours

October 7, 2019
Topic: Business Bootcamp
Wine Country Chapter Meeting
3 Federal Tax Hours

October 9, 2019
Topic: California Updates with Spidell's Lynn Freer
Orange County Chapter Meeting
2 California Hours

October 10, 2019
Topic: Business Bootcamp
Wine Country Chapter Meeting
3 Federal Tax Hours

October 16, 2019
Topic: After Tax Season Breakfast Meeting
Temecula Valley Chapter Meeting
1 Federal Update Hour

Topic: Marijuana Taxation in California
Inland Empire Chapter Meeting
1 Federal Tax Law Hour
1 California Hour

Topic: FTB Update and OIC Innocent Spouse Relief / IRS Section 6015
San Jose Chapter Meeting
2 California Hours
1 Federal Tax Law Hour

October 17, 2019
Topic: Reporting Rental Activites for Tax
North County San Diego Chapter Meeting
2 Federal Tax Law Hours

Topic: California Update
San Diego Chapter Meeting
2 California Hours

October 22, 2019
Topic: Audit Protection / Hobby vs. Business IRS Sec. 183
Central Valley Chapter Meeting
6 Federal Tax Law Hours

Topic: Tax Issues for US Citizens Abroad
Orange County - South Chapter Meeting
2 Federal Tax Law Hours

October 23, 2019
Topic: Early Bird Tax Update
Wine County Chapter Meeting
2 Federal Update Hours

Topic: A Review of the TCJA and Thorough Analysis of Section 199A
Greater Long Beach Chapter Meeting
2 California Hours
4 Federal Update Hours

October 25, 2019
Topic: Simplified Approach to Section 199A
East County San Diego Chapter Seminar
4 Federal Tax Law Hours

October 29, 2019
Topic: TBA
Sacramento Chapter Meeting
Hours TBA

Click here to view the CSTC calendar.

 Welcome New CSTC Members!

Please help us in joining our newest CSTC Members!

Fredrick Akhile
San Francisco Bay Chapter

Joseph T. Bellavia
North County San Diego Chapter

Godwin A. Ekine
Sacramento Chapter

Kenneth Golden
Inland Empire Chapter

Robin Huberty
San Francisco Bay Chapter

Rola Jarjoura
Greater Long Beach Chapter

Valinda Roberts
Sacramento Chapter

Joyce Thornton
San Diego Chapter

Jonnell Tyler
Inland Empire Chapter

Teresa Velazquez
North County San Diego Chapter

Linda Weathers
San Francisco Bay Chapter

Legislative Advocacy

CSTC has been the leading Association in supporting legislation to provide protection for our profession, to support our profession, and to enhance our profession. CSTC continuously leads our industry through legislative advocacy, educational opportunities, and professional inclusion.

CSTC works closely with a Legislative Advocate to keep an eye on important bills that would affect taxpayers and small business owners.

Please click here to view the bills that CSTC is currently monitoring.

   

 News from the IRS

October 15 filing extension deadline

Taxpayers who requested an extension to file their 2018 tax return have until Tuesday, October 15 to file. Taxpayers can file their tax return electronically for free through IRS Free File. The program is available on IRS.gov through Oct. 15.

The fastest way for taxpayers to get their refund is to file electronically and use direct deposit.

See IRS Tax Tip 2019-132.

Tax Relief in Disaster Situations

The IRS extended deadlines that apply to filing returns, paying taxes, and performing certain other time-sensitive acts for certain taxpayers affected by Hurricane Florence. The federally declared disaster areas include hurricane victims in certain counties in North Carolina and South Carolina. The extension applies to deadlines - either an original or extended due date - that occurred on or after September 7, 2018, and before January 31, 2019. 

The IRS often updates its information on disaster relief efforts. For the latest news, see the IRS disaster relief page frequently.

Where's My Refund?

Taxpayers who filed their tax returns should know that the easiest way to check on their tax refund is to use "Where’s My Refund?" This tool is available on IRS.gov and through the IRS2Go app. The fastest way to get that tax refund is to use IRS e-file and direct deposit. 

Taxpayers can use Where’s My Refund? to start checking on the status of their tax return within 24 hours after the IRS receives an e-filed return. For a paper return, it’s four weeks after the taxpayer mailed it.

See: Online tool lets taxpayers check the status of their refund for more information. 

Tax Reform

The IRS is working on implementing the Tax Cuts and Jobs Act. This new law includes major tax legislation that will affect both individuals and businesses. Check the Tax Reform page for the latest updates. 

Tax Withholding

The Tax Cuts and Jobs Act changed the way tax is calculated. The IRS encourages taxpayers to perform a quick “paycheck checkup” by using the Withholding Estimator to check if they have the right amount of withholding for their personal situation. 

Consumer Alerts on Tax Scams

‪Note that the IRS will never:

  • Call to demand immediate payment using a specific payment method such as a prepaid debit card, gift card or wire transfer. Generally, the IRS will first mail you a bill if you owe any taxes.
  • Threaten to immediately bring in local police or other law-enforcement groups to have you arrested for not paying.
  • Demand that you pay taxes without giving you the opportunity to question or appeal the amount they say you owe.
  • Ask for credit or debit card numbers over the phone.

For more information on tax scams, please see Tax Scams/Consumer Alerts. For more information on phishing scams, please see Suspicious emails and Identity Theft.

Is it Really the IRS Calling?

The IRS wants you to understand how and when we contact taxpayers and help you determine whether a contact you may have received is truly from an IRS employee.

The IRS initiates most contacts through regular mail delivered by the United States Postal Service.

However, there are special circumstances in which the IRS will call or come to a home or business, such as when a taxpayer has an overdue tax bill, to secure a delinquent tax return or a delinquent employment tax payment, or to tour a business as part of an audit or during criminal investigations.

See Avoid scams: Know the facts on how the IRS contacts taxpayers for more information.

Private Debt Collection

The IRS began a new private collection program of certain overdue federal tax debts selecting four contractors to implement it. The groups are: CBE Group of Cedar Falls, Iowa; Conserve of Fairport, N.Y.; Performant of Livermore, Calif.; and Pioneer of Horseheads, N.Y. The taxpayer’s account will only be assigned to one of these agencies, never to all four. No other private group is authorized to represent the IRS. 

The IRS will always notify a taxpayer before transferring their account to a private collection agency (PCA). The IRS will send a letter to the taxpayer and their tax representative informing them that their account is being assigned to a PCA and giving the name and contact information for the PCA. This mailing will include a copy of Publication 4518, What You Can Expect When the IRS Assigns Your Account to a Private Collection Agency (PDF).

Foreign Account Tax Compliance Act (FATCA)

FATCA refers to the Foreign Account Tax Compliance Act that requires reporting on specified foreign accounts by U.S. taxpayers and foreign financial institutions. In general, federal law requires U.S. citizens to report worldwide income, including income from foreign trusts and foreign bank and securities accounts.

Click here to view the full articles from the IRS. 

Join the California Society of Tax Consultants!

Click here to fill out an online application.

CSTC advances professionalism within the tax industry by:

  • Providing quality education
  • Creating networking opportunities
  • Advocating professional standards

California Society of Tax Consultants | 320 Pine Ave, Suite #1050, Long Beach, CA 90802
Phone (949) 715-4192 | [email protected]