Enrolled Agent, Tax Professional, UNL alum '89 #GBR, Former Contributor for Land Grant Univ Tax Education Foundation, Former Instructor for UNL Tax Institute
Lincoln, NE
Joined December 2017
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Mark Burch, EA retweeted
The power of compounding: why you need to know the rule of 72.
How long will it take an investment to double? Divide 72 by the annual interest rate (e.g., 72 / 8% = 9 years). It also helps understand inflation's impact (72 / inflation rate = years to halve purchasing power) and is great for quick financial planning and comparing investment growth, though it's an approximation that works best for rates between 6-10%.
Mark Burch, EA retweeted
Join us in celebrating Blake Freudenburg's achievement of the CPA certification! We're proud of his dedication and excited for the bright future he brings to Burch & Associates.
Professional CPA services by Ridge View Tax & Accounting, CPA, LLC.
Mark Burch, EA retweeted
Had to (again) defend a preparer's recommendation to extend returns this season.
I promise you—as someone who helps taxpayers who find themselves in trouble—that filing an accurate return on extension is better than filing a rushed, flawed return in April.
#tax
Mark Burch, EA retweeted
"Some promoters have told employers they can claim the ERC if any government order was in place in their area, even if their operations weren’t affected or if they chose to suspend their business operations voluntarily. This is false."
IRS in IR-2024-39
Mark Burch, EA retweeted
FinCEN has announced that it will comply with the court's order in National Small Business United v. Yellen, which found the Corporate Transparency Act to be unconstitutional. Note that the order only applies to the plaintiffs in the case, not all businesses subject to the Act's reporting requirements. See FinCEN's announcement via the following link: fincen.gov/news/news-release….
Mark Burch, EA retweeted
🥰
You're welcome, Mr. Commissioner!
Now please grant us automatic extensions for everyone and banish Congress from making retroactive tax changes.
It's a simple ask, I know you can do this.
Tax professionals are a critical link between the #IRS and the taxpaying public. Commissioner Werfel takes a moment to thank everyone in the nation’s tax professional community. ow.ly/Ig4l50Qvy9n
ALT Photo of IRS Commissioner Danny Werfel on a blue background with the IRS logo repeated written. Text reads: "Tax Pros: We appreciate the important role you play helping your clients fulfill their tax obligations, and in doing so you help ensure the integrity of our tax system. IRS Commissioner Danny Werfel.”
Mark Burch, EA retweeted
House Blocks Retroactive Bill Which Would Have Doubled The SALT Cap Deduction via @forbes forbes.com/sites/kellyphilli…
Mark Burch, EA retweeted
There's got to be a better way. Extend tax filing due dates permanently and stop passing retroactive legislation. Period.
bloomberglaw.com/product/tax…
Mark Burch, EA retweeted
IRS is testing correspondence audits of ERC via letter 6612.
The process is to prove your claim in advance during a 30 day reply window. Guessing some won't reply in time and be denied as a result (based on the lack of good documentation out in the wild)
irs.gov/individuals/understa…
Mark Burch, EA retweeted
Who agrees? If you've experienced the TaxSpeaker difference, share this with those who haven't! #ExcellenceInEducation #GoldStandard
Mark Burch, EA retweeted
Four Men Charged for Their Roles in $21 Million Catalytic Converter Theft Ring justice.gov/usao-mn/pr/four-… @HSISaintPaul @MNCommerce @MnDPS_DPS @IRS_CI @sppdmn @AnokaCoSheriff @BlainePoliceMN @CarverSheriff @CoonRapidsPD @EaganPolice @McLeodCoSheriff @PlymouthMNPD @RosevilleMN_PD
Mark Burch, EA retweeted
If you’re a #TaxPro and receive more e-file acknowledgements from the #IRS than the number of returns you’ve filed, that’s a common sign of identity theft. Learn more at irs.gov/protectyourclients #TaxSecurity
ALT A bunny hiding amongst leaves. Text, 'ID thieves often target tax professionals. Learn to recognize tell-tale signs that can be easily missed.' IRS logo; irs.gov/protectyourclients
Mark Burch, EA retweeted
“Innovation Refunds follows IRS guidance and the likelihood of misinterpretations of the tax code lies with the taxpayer or tax preparer,” the company said.
wsj.com/politics/policy/irs-…
Mark Burch, EA retweeted
#IRS and #TaxPros continue to see the aggressive promotion of Employee Retention Credit schemes. Don’t be taken in by this Dirty Dozen scam: ow.ly/PYoR50NmUbN #TaxSecurity
ALT Various TV screens pictured with the letters ‘ERC’ displayed. IRS logo and URL also displayed: irs.gov/dirtydozen
Mark Burch, EA retweeted
2022 wage and income transcripts are available to pull from IRS with data #TaxTwitter!
Mark Burch, EA retweeted
Here’s a Bloomberg article with the short list (10) of vehicles qualifying for the full $7500 federal tax credit - Only 10 Electric Vehicles Qualify for Full $7,500 US Tax Credit bloomberg.com/news/articles/…
Mark Burch, EA retweeted
The Earned Income Tax Credit puts money back in your pocket.
#EITC helps workers and families get a tax break. See if you qualify: taxpayeradvocate.irs.gov/eit…. #taxes
Mark Burch, EA retweeted
Hey #taxtwitter - I'm looking for a recommendation for a CPA who is familiar with the Florida AHCA - Proof of Financial Ability to Operate
Mark Burch, EA retweeted
Here's an opportunity to give the #IRS feedback on customer service improvements - Public can share ideas on IRS customer service this week journalofaccountancy.com/new…