Update on IRS e-Services Transcript Policies

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Earn one CE Federal Tax with Bill Nemeth, EA. 
February 19, 2019  

2:00 pm - 3:00 pm EST

Self-Study IRS Program Number:  X9QQU-U-00553-19-S

The IRS has announced sweeping changes that affect many tax professionals. Starting sometime in February the IRS will NO longer fax taxpayer transcripts to tax professionals.  The IRS has adopted the NAEA proposal and will make non-masked transcripts available to tax professionals with active e-Services accounts through their e-Services mailbox.

Upon completion of the course, participants will be able to:
1. Review the history of e-Services
2. Provide update on the increased security measures that the IRS has put into place.
These Security Measures include:
• The announcement of FAXed Transcripts no longer being available in the near future (cannot verify fax numbers)
• The redaction or masking of taxpayer transcripts which began in September 2018 and continues.
• Understanding the masking paradigm of taxpayer transcripts.
• Expand on the IRS Fact Sheet FS-2018-20 to allow tax professionals to obtain wage and income transcripts needed for tax preparation.
• Starting in late January, the IRS has implemented a procedure to send non-masked transcripts to the tax professionals’ e-Services secure mailbox, Secure Object Repository (SOR).
• Review the procedures used by tax professionals to access and download the non-masked transcripts.
• Discuss over 30 ways that transcripts can be valuable to your clients. 

Bill Nemeth, EA

Bill Nemeth, EA, has over 30 years of experience as a tax professional – He and his wife Merry Brodie operated their tax franchise operation with 24 offices and 12,000 returns per year. They sold this business in 2012 and embarked upon a new endeavor, Tax Audit Guardians, assisting troubled taxpayers. Bill is currently GAEA President & GAEA Education Chair.  He is active at the National Level as an elected member of the NAEA Affiliate Council.   He holds bachelors (Kettering Institute) and masters degrees (MIT) in Mechanical Engineering and an MBA in Marketing (Wayne State University).  He is an NTPI Fellow and has taught at NTPI. He has appeared on TaxTalkToday numerous times and has numerous articles published in the EA Journal. He is the former Chair of the Tax Education Committee and is a current member of the Tax Education Committee and the NAEA Education Foundation Board.  He prepares and presents live programs and webinar programs on timely federal tax topics. He is a member of the IRS SouthEast Stakeholder Liaison Group and is active in the IRS IMRS (Issue Management Resolution System) calls.  In his spare time, he and his wife Merry are amateur beekeepers.