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first_imgThat’s up from 8,000 new registrants over the course of the previous eight years of the CTEC’s existence. The legislation, SB 229, gave the FTB the ability to impose a $2,500 initial fine to tax preparing businesses who fail to register with CTEC. If after 90 days a tax preparer still hasn’t registered, the FTB can then increase the penalty to $5,000. Last year the FTB visited more than 750 tax preparation offices and issued nearly 100 penalties. Almost 75 percent of the preparers complied with CTEC within the 90 day deadline. Guidelines on the CTEC Web site also advise tax payers to make sure their tax preparers sign the forms with their names rather than putting down “self-prepared” and that a copy is provided to them. To verify that a tax preparer is registered with the CRTP, call 877-850-CTEC or visit www.ctec.org. [email protected] (562) 698-0955, Ext. 3029165Let’s talk business.Catch up on the business news closest to you with our daily newsletter. Something went wrong. Please try again.subscribeCongratulations! You’re all set! Lawrence said every year people come in because a phoney tax preparer drew up self-employed forms for a W-2 wage earner, promising more money back. Often fraudulent preparers will charge a percent of the refund money – one of the signs of an illegal tax business, Lawrence said. “These \ could understate your income or overstate expenses and trigger an audit,” Lawrence said. “But the taxpayer is responsible because they sign the forms. It won’t get you off the hook to say you didn’t know they were illegal. It’s very important you don’t sign the forms if you see things like that.” And make sure they have an actual office, Lawrence said. “If a tax preparer arranges to meet you in a bar or bowling alley, take that as a red flag,” he added. A California Senate bill implemented early last year gave teeth to the CTEC’s ability to encourage tax businesses to register. Officials say more than 40,000 tax preparers have now registered. WHITTIER – If your tax preparer does such things as promise you a refund, ask you to sign a blank tax return or fails to sign your return after you’ve paid for services – chances are you may be dealing with one of the 10,000 illegal tax preparers in California. These are just some of the signs the nonprofit California Tax Education Council (CTEC) is telling taxpayers to look out for to avoid tax-related problems from improper filing. The corporation was established by the Legislature in 1997 to “promote competent tax preparation” by partnering with the Franchise Tax Board (FTB). Tax preparers must register with CTEC and give proof of continuing education credits to be considered legal, said Scott Lawrence, a Whittier-based tax preparer and a CTEC board member. “We were created to protect the consumer,” Lawrence said. “If a \ doesn’t keep up on the current tax laws, a consumer could end up owing money or may get back less than they would have.” last_img read more

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first_img0Shares0000A PSG fan holds a PSG yellow away jersey, marked with the number 10 and the name of Brazilian star Neymar, after he purchased it from the Paris-Saint-Germain (PSG) football club store on the Champs Elysees avenue in Paris on August 4, 2017 © AFP / PHILIPPE LOPEZPARIS, France, Aug 5 – Neymar started repaying his mammoth transfer fee on the day he was introduced as Paris Saint-Germain’s marquee summer signing with the club selling more than 10,000 shirts bearing his name on Friday.The 25-year-old Brazilian was signed from Barcelona for a world record 222-million euros ($264m) but with shirts emblazoned with his name and No.10 on the back selling at an average of 100 euros, PSG generated 1 million euros on his first day. If PSG can keep that up, they would have recouped the transfer fee by mid-March, within the first season of Neymar’s five-year deal — although in reality that revenue is shared with shirt manufacturer Nike, meaning it would actually take twice as long to pay for the player.Such is the demand for the shirt at one of two PSG stores, on the iconic Champs Elysees boulevard and the team’s outlet at their Parc des Princes home, that shoppers on Saturday will be limited to a single jersey each.Neymar is due to be unveiled to the PSG fans on the Parc des Princes pitch on Saturday at 3.45pm (1345 GMT) ahead of their opening Ligue 1 match of the season against newly-promoted Amiens at 5.15pm.0Shares0000(Visited 1 times, 1 visits today)last_img read more