Emerald Tax & Financial Services

Where’s my refund?

Emerald Tax & Financial Services — Thu, 23 Feb 2012 21:27:56 +0000

How quickly will taxpayers get refunds?

Following technology improvements, the IRS will issue refunds to more taxpayers in as few as 10 days this year. But taxpayers should keep in mind that many variables can affect the speed of a tax refund.
The IRS issues more than 90 percent of refunds within 21 days

Why can’t the IRS tell me the exact date I will get my refund?

The IRS reminds taxpayers that refund time frames provided by the “Where’s My Refund?” IRS2Go smartphone application (app) and tax providers are projected time frames and are subject to revision. Many different factors can affect the timing of the refund after the IRS receives the return for processing.
Also, keep in mind that the date “Where’s My Refund“ provides is the estimated date the IRS will issue the refund, not the date the taxpayer will get the refund. It may take up to five additional days for the financial institution to post the refund to your account, or for mail delivery.

Why did my refund date on “Where’s My Refund”change?

Refund dates change in “Where’s My Refund” as a tax return moves through IRS processing. A date change is not a sign of a problem for a person’s tax return. No action is needed by the taxpayer, unless “Where’s My Refund” specifically indicates that an action is needed.

The estimated refund date initially provided via “Where’s My Refund” is just that, an estimate based on a best-case scenario in which the tax return was filed accurately and there are no corrections or reviews required. However, there are many factors that could affect the processing of a taxpayer’s return that may also change the estimated date the refund will be issued. These could include:

The IRS balances customer service and tax compliance by reviewing tax returns to prevent fraudulent and erroneous refunds. These critical reviews could add time to refund processing, even for some legitimate returns.
The IRS may need time to fix a simple error, like a math error.
Refund timeframes can also be affected by such factors as bankruptcy, an open audit or a balance due on a related account such as a different tax year.

If a tax return is affected by one of these factors or by an IRS processing system delay, “Where’s My Refund” will generally provide updated information as that return is processed and/or an updated estimate as the actual refund date becomes more clear.

The date “Where’s My Refund” provided is different than the date my tax preparer or tax software provided. What should I do?

The IRS reminds taxpayers that refund time frames provided by “Where’s My Refund” and tax providers are projected time frames and are subject to change. Many different factors can affect the timing of the refund after the IRS receives the return for processing.
The IRS issues the vast majority of refunds in 21 days or less so even though the issue date provided to you may have changed, it’s very likely that your refund is on its way.
There is no need to call unless you get a specific message indicating that you should. If the IRS needs more information to process your return, they will contact you by mail. The telephone assistors do not process refunds and will not be able to provide additional information.

Will calling the IRS give me additional information or speed my refund?

No, calling the IRS won’t do anything to speed your refund. The IRS processes more than 140 million tax returns each year, and our telephone assistors are not the people who actually process tax returns.
The best option for taxpayers is to check “Where’s My Refund” or IRS2Go and remember the vast majority of tax refunds will be issued within 21 days.
More information about the refund process is available in our YouTube video, When Will I Get My Refund?, and an IRS fact sheet.

Is the estimated date provided by my tax preparer, tax software or “Where’s My Refund” a guarantee of when I will get my refund?

Unfortunately, the IRS cannot guarantee a taxpayer will get their refund on a certain date. While estimates are provided as the return is processed, the IRS emphasizes these are “best-case scenarios” where tax returns are filed accurately and no corrections or review are required.

What might cause a taxpayer’s return to take longer to process?

Common errors can delay processing and extend refund timelines. Ensure your refund arrives as expected by submitting an error-free return. Use the correct Social Security or taxpayer identification numbers, address, and bank and routing numbers if electing direct deposit.
To balance taxpayer service, quick refunds and tax compliance, the IRS must review refunds to prevent fraudulent and erroneous refunds. These critical reviews can add time to refund processing, even for some legitimate tax returns.
The IRS also periodically adjusts its technology systems during the filing season, which can also factor into short refund delays.

What is the best way to file for an accurate return and a fast refund?

Using e-file with direct deposit remains the fastest option for taxpayers.
E-file remains the best way to ensure an error-free return. However, certain taxpayers, like those claiming the adoption credit, must file paper tax returns so that they can submit required documentation. Paper returns take longer to process.
Ensure your refund arrives as expected by submitting an error free return. Use the correct Social Security or taxpayer identification numbers, address, and bank and routing numbers if electing direct deposit.

What’s the best way for taxpayers to check on the status of their refund?

You don’t need to call and wait on the telephone. The fastest and best way to check the status of your refund is through the “Where’s My Refund” tool on IRS.gov and the IRS2Go smartphone app.
Generally, information about refund status is available about three days after the IRS acknowledges receipt of your e-filed return, or four weeks after you mailed a paper return.
The IRS works hard to issue refunds as quickly as possible. But the IRS cautions taxpayers not to tie major financial decisions to the receipt of their tax refund by a specific date.

How does the IRS’s Refund Cycle Chart used by tax professionals differ from general refund timelines?

The IRS Refund Cycle Chart is a tool provided to help tax professionals provide a best-case estimate when the IRS may issue a refund based on when the return is accepted by the IRS. The refund time frames provided by the Refund Cycle Chart are best-case estimates and subject to revision as many different factors can affect the timing of the refund after the IRS receives the return for processing.
The times listed on the Refund Cycle Chart are the best-case scenarios for refunds. These refund times routinely differ from those listed on Where’s My Refund and the IRS2Go smartphone app.
It’s important to note that the chart is only for electronically filed returns, but it does show timelines for both direct deposit and mailed checks. The dates on the Refund Cycle Chart are the best-case estimate date the IRS will issue the refund, not the date the taxpayer will receive it. Also, remember many factors can extend refund receipt timelines, including IRS reviews, banking practices and speed of mail delivery.

Missing W2?

Emerald Tax & Financial Services — Fri, 17 Feb 2012 19:10:11 +0000

What to Do If You Are Missing a W-2

IRS Tax Tip 2012-20, January 31, 2012Make sure you have all the needed documents, including all your Forms W-2, before you file your 2011 tax return. You should receive an IRS Form W-2, Wage and Tax Statement, from each of your employers. Employers have until Jan. 31, 2012 to issue your 2011 Form W-2 earnings statement.If you haven’t received your W-2, follow these four steps:

Contact your employer If you have not received your W-2, contact your employer to inquire if and when the W-2 was mailed. If it was mailed, it may have been returned to the employer because of an incorrect or incomplete address. After contacting the employer, allow a reasonable amount of time for them to resend or issue the W-2.
Contact the IRS If you do not receive your W-2 by Feb. 14, contact the IRS for assistance at 800-829-1040. When you call, you must provide your name, address, Social Security number, phone number and have the following information:
• Employer’s name, address and phone number
• Dates of employment
• An estimate of the wages you earned, the federal income tax withheld, and when you worked for that employer during 2011. The estimate should be based on year-to-date information from your final pay stub or leave-and-earnings statement, if possible.
File your return You still must file your tax return or request an extension to file by April 17, 2012, even if you do not receive your Form W-2. If you have not received your Form W-2 in time to file your return by the due date, and have completed steps 1 and 2, you may use Form 4852, Substitute for Form W-2, Wage and Tax Statement. Attach Form 4852 to the return, estimating income and withholding taxes as accurately as possible. There may be a delay in any refund due while the information is verified.
File a Form 1040X On occasion, you may receive your missing W-2 after you file your return using Form 4852, and the information may be different from what you reported on your return. If this happens, you must amend your return by filing a Form 1040X, Amended U.S. Individual Income Tax Return.

Form 4852, Form 1040X and instructions are available at www.irs.gov or by calling 800-TAX-FORM.

Foreign Account Tax Compliance Act Summary

Emerald Tax & Financial Services — Mon, 30 Jan 2012 15:10:39 +0000

The Foreign Account Tax Compliance Act (FATCA), enacted in 2010 as part of the Hiring Incentives to Restore Employment (HIRE) Act, is an important development in U.S. efforts to combat tax evasion by U.S. persons holding investments in offshore accounts.

Under FATCA, certain U.S. taxpayers holding financial assets outside the United States must report those assets to the IRS. In addition, FATCA will require foreign financial institutions to report directly to the IRS certain information about financial accounts held by U.S. taxpayers, or by foreign entities in which U.S. taxpayers hold a substantial ownership interest.

Reporting by U.S. Taxpayers Holding Foreign Financial Assets

FATCA requires certain U.S. taxpayers holding foreign financial assets with an aggregate value exceeding $50,000 to report certain information about those assets on a new form (Form 8938) that must be attached to the taxpayer’s annual tax return. Reporting applies for assets held in taxable years beginning after March 18, 2010. For most taxpayers this will be the 2011 tax return they file during the 2012 tax filing season. Failure to report foreign financial assets on Form 8938 will result in a penalty of $10,000 (and a penalty up to $50,000 for continued failure after IRS notification). Further, underpayments of tax attributable to non-disclosed foreign financial assets will be subject to an additional substantial understatement penalty of 40 percent.

Reporting by Foreign Financial Institutions

FATCA will also require foreign financial institutions (“FFIs”) to report directly to the IRS certain information about financial accounts held by U.S. taxpayers, or by foreign entities in which U.S. taxpayers hold a substantial ownership interest. To properly comply with these new reporting requirements, an FFI will have to enter into a special agreement with the IRS by June 30, 2013. Under this agreement a “participating” FFI will be obligated to:

(1) undertake certain identification and due diligence procedures with respect to its accountholders;
(2) report annually to the IRS on its accountholders who are U.S. persons or foreign entities with substantial U.S. ownership; and
(3) withhold and pay over to the IRS 30-percent of any payments of U.S. source income, as well as gross proceeds from the sale of securities that generate U.S. source income, made to (a) non-participating FFIs, (b) individual accountholders failing to provide sufficient information to determine whether or not they are a U.S. person, or (c) foreign entity accountholders failing to provide sufficient information about the identity of its substantial U.S. owners.

Notice 2011-53 provides the phased-in timeline of key FATCA implementation dates for FFIs. It is important to note that many details of the new reporting and withholding requirements pertaining to FFIs must be developed through Treasury regulations that are expected to be proposed by December 31, 2011.

One tax break lost means opportunity for other

Emerald Tax & Financial Services — Wed, 28 Dec 2011 15:06:56 +0000

U.S. firms enjoyed having their home office in Puerto Rico for years. The tax breaks for doing this have now gone away. How do the companies react to this loss? They simply shift their home office location to the Cayman Islands. Problem solved. This was assuredly not the intent of the law changes, but there are many instances where the ripple effect of new laws is not fully thought out or realized until it is too late. These offshore tax deferred earnings total at least $1.38 trillion according to a report from J.P. Morgan Chase.

Companies legally move profits offshore using the system of allocating income between units in different countries. This lets the corporations profit from a product that has earning in the Cayman Islands even though it was made in Puerto Rico and sold in the states. The profit shifting costs the U.S. government an estimated $90 billion a year. Read more at http://www.washingtonpost.com/business/2011/12/20/gIQAJ8o9DP_story.html

IRS Identity Protection PIN

Emerald Tax & Financial Services — Wed, 07 Dec 2011 20:08:41 +0000

Later this month, the IRS will be sending letters out to approximately 250,000 taxpayers that contains their 6-digit “Identity Protection PIN.” Taxpayers will receive this letter because they have informed the IRS that they were the victims of identity theft which the IRS has confirmed after reviewing documentation provided by the taxpayer.

The Identity Protection PIN must be entered on the affected taxpayer’s Federal return in order to avoid a delay in processing the return and receipt of their refund.

If you learn that one of your customers has been a victim of identity theft, you should ask them if they received a letter from the IRS. If they have, ask them to bring it with them when they come in to have their 2011 Federal return prepared.

Things to know about the Identity Protection PIN:

If the taxpayer received an Identity Protection PIN and it is not entered on their return, the IRS will reject the return if it is filed electronically.
The Identity Protection PIN received by the taxpayer this month is only valid for use on their TY 2011 return.
For an affected taxpayer, if the Identity Protection PIN is entered incorrectly, the processing of their return will be delayed.
If the taxpayer misplaces their letter and cannot remember their Identity Protection PIN, they cannot obtain a new one from the IRS. In this case, they will have to file their return on paper and the processing of their return will be delayed while the IRS validates that the return filed is the taxpayer’s.
If both the taxpayer and spouse receive an Identity Protection PIN, only the taxpayer’s should be entered on the return.
When the Identity Protection PIN is entered in the CrossLink program, the PIN will be transmitted to the IRS as part of Form 1040. It will also print on Form 1040 in the area designated for this purpose in the signature area of Form 1040.
An affected taxpayer will receive a unique 6-digit PIN each year for 3 years following verification by the IRS.
The Identity Protection PIN should not be confused with the 5-digit taxpayer/spouse electronic self-select PIN.

Read more about the IRS Identity Protection PIN program.

If one of your customers informs you that they have been a victim of identity theft and they have not contacted the IRS you should do one of the following:

See the IRS Identity Theft website.This site contains information such as what documents the IRS requires the taxpayer to submit for the IRS to validate their claim, where to send the information, and how the taxpayer can contact the IRS Identity Protection unit; or
Have the taxpayer contact the IRS Identity Protection Unit at 1-800-908-4490. Their hours of operation are Monday – Friday 8:00 am – 8:00 pm your local time.

A visit to the Department of the Treasury

Emerald Tax & Financial Services — Sun, 04 Dec 2011 04:04:17 +0000

The Department of Treasury has many bureaus. One of which is the IRS. Since I do a lot of work regarding taxes I thought it best to pay them a visit and get a history lesson at the same time. In order to get a tour you must contact you congressional representative. They are only conducted on Saturdays. The entrance is very close to the White House at the south side of the Treasury building. The first thing you realize is that is was built in different sections over many years. There is a tremendous amount of history with many notable events occurring there. After Lincoln was shot, it housed a temporary work space for the next in line who pardoned the southern troops and put a $100,000 bounty on the southern leader as they thought he had something to do with the assassination. The picture in this article is that of a wall leading to a “burglar proof” vault. It was lost to history for a while as a plaster wall was placed in front of it. Only during renovations was it discovered. There were ball bearings in the wall to make it difficult for burglars to drill through the walls which was how they entered vaults during that time. Most of the ornate carvings are that of farming goods as the country was mostly agricultural at the time.

You will find out many interesting things that are tied to the Treasury Department such as a former employee was the deciding supreme court member who decided that slaves were still property in the North and should be returned to the South. He was the one who probably had the most to do with the breaking out of the Civil War when it occurred. The same person that later swore in Abraham Lincoln. You will see actual couches that are also in the paintings from 1870s. The restoration efforts are truly amazing. Among all of this history you realize that it is still a working office building that is used daily. Alexander Hamilton was the first Secretary of the Treasury and he served from 1789 to 1795. He was later killed in a dual in 1804. At the time government employees did not get paid very much at all and he was not independently wealthy so he simply could not afford to continue his work there at the time.

Notable events include that the old Treasury building was burned down in 1814 by the British. They rebuilt it on the same spot only to watch it burn in a fire in 1833. Many may not realize this, but the reason Washington DC became the capital was because of an agreement through the Treasury Department to pay off the Civil War debt. Many states already paid their dept so an agreement was put in place for those states to help the ones who were less fiscally responsible (mostly the northern states at the time). In exchange for paying more debt of the north, the capital was moved south. After shooting Lincoln, Booth got one of his spurs caught on a flag casing him to land badly on the stage injuring him during his escape. The flag was a Department of Treasury flag.

After your tour I would suggest going to the Old Ebbitt Grill for a bite to eat at 675 15th Street, NW. It is the oldest pub in DC as they were founded in 1856. Many historical figures of past and present have eaten there many times. The menu is fantastic. Enjoy!

For more information visit:

http://www.treasury.gov/about/history/Pages/The-Treasury-Building.aspx

Using ESBT and QSST Elections to Avoid S Status Termination

Emerald Tax & Financial Services — Tue, 15 Nov 2011 00:30:47 +0000

Thee formation and funding of trusts has become commonplace in the last ten years for many individuals doing estate planning. They place certain assets in the trusts to ensure the assets pass to their heirs without going through probate. One of the assets many individuals have been placing in these inter vivos trusts is S corporation stock.

The owner of the S corporation stock in the case of a grantor trust is the grantor, thus the S election is preserved. Grantor trusts that become irrevocable and testamentary trusts fall under the same rules as an estate. These trusts can only be shareholders for two years. If these trusts continue to hold the stock for greater than two years, the S election terminates. The ESBT and QSST are both allowed to hold the shares of the S corporation beyond the two-year period. A trust must make an election to become an ESBT or QSST within two months and fifteen days

of becoming a shareholder. If an election is not made, the S election will be terminated with two years of the trust receiving the stock. There have been dozens of private letter rulings issued in 2010 regarding the election to become an ESBT or QSST. The letter rulings resulted from the inadvertent termination of the S status due to the omission of the election by the trustee, executor or trust beneficiary. This situation could have been avoided had these individuals been on the same page and communicated the duties required to maintain the S status.

Making the ESBT election has advantages and disadvantages. The trust making the election is permitted to have successor beneficiaries. It can distribute income to multiple beneficiaries while still preserving S status. However, the trust is required to pay tax on the income related to the S

corporation stock at the highest individual tax rates. For 2010, ordinary income would be taxed at 35 percent, long-term capital gains taxed at 15 percent, etc. The trust is not allowed the income distribution deduction; thus the beneficiary recognizes no income from the S corporation. The election is made by sending an election statement to the IRS service center where the S corporation files its return. The election can be made when the S election is made or separately after the Form 2553 is fi led. If the trust holds the stock of more than one S corporation, it may be required to send a copy of the election to several different centers.

The pass-through income from the S corporation is treated the same as under the grantor trust

rules; the income beneficiary reports the income directly on their own tax return. Distributions from the S corporation must be distributed from the trust to the beneficiary. If the trust owns other income producing assets, this income must be distributed annually. If the trust becomes a shareholder after the S election has been made, the election is made by sending an election statement to the IRS service center where the S corporation files its return. The election can be made when the S election is made by filling out Part III of Form 2553.

Source: Exerpt of article from Kevin Brown, EA; NATP TAXPRO Monthly, August 2011

Cell Phones for Soldiers

Emerald Tax & Financial Services — Sun, 13 Nov 2011 10:26:37 +0000

We are a drop off site for Cell Phones for Soldiers. If the office is closed, please put items in door slot to left of office in parking lot. Thank you.

Cell Phones for Soldiers Mission:

Cell Phones for Soldiers is a non-profit organization dedicated to providing deployed and returning troops cost-free methods to communicate with family while serving in the United States military.

Cell Phones for Soldiers Fast Facts:

Since 2004, Cell Phones for Soldiers…

Raised more than $7 million and provided more than 114 million minutes of free talk time
Mails approximately 12,000 calling cards each week
Recycled more than 8.3 million cell phones, reducing the impact on landfills
Anticipates the launch of a new program, Helping Heroes Home, to provide returning troops with 30-days of free phone service following deployment.
Has remained a family-run, non-profit organization operated almost exclusively by Bob, Gail, Brittany, Robbie and Courtney Bergquist.

History

Since its inception in 2004, Cell Phones for Soldiers has worked to keep military families connected by providing FREE communication tools to those serving overseas in the United States military. In seven years, the registered 501(c)(3) has provided troops with more than 2 million pre-paid calling cards, equating to 114 million minutes of FREE talk time.

Cell Phones for Soldiers hopes to continue its mission to provide troops with FREE calls home through generous monetary contributions and the recycling of used mobile phones. Used mobile phones from all service providers are accepted. Each $5 contribution, or donated device valued at $5, will provide troops with 2.5 hours of FREE talk time.

Cell Phones for Soldiers was founded by Robbie and Brittany Bergquist of Norwell, Mass., at the ages of 12 and 13. The organization has raised more than $7 million in donations and collected more than 8.3 million cellular devices.

“Cell Phones for Soldiers started as a small way to show our family’s appreciation for the men and women who have sacrificed the day-to-day contact with their own families to serve in the U.S. armed forces,” says the teens’ father, Bob Bergquist. “Over the past few years, we have been overwhelmed by the generosity of others. But, we have also seen the need to support our troops continue to grow as more troops are sent overseas for longer assignments.”

Through increased fundraising efforts, the Bergquist family hopes to raise additional funds to support new programs such as providing phones with prepaid service to allow soldiers abroad to talk to their families on a regular basis.

To find out more visit cellphonesforsoldiers.com

The Better Business Bureau

Emerald Tax & Financial Services — Sun, 13 Nov 2011 10:19:32 +0000

BBB Accreditation Standards

BBB Code of Business Practices

The BBB Code of Business Practices represents sound advertising, selling and customer service practices that enhance customer trust and confidence in business. The Code is built on the BBB Standards for Trust, eight principles that summarize important elements of creating and maintaining trust in business.

This Code also represents standards for business accreditation by the BBB. Businesses based in the United States and Canada that meet these standards and complete application procedures will be accredited by the BBB.

To be accredited by BBB a business or organization affirms that it meets and will abide by the following standards:

Build Trust
Establish and maintain a positive track record in the marketplace. An accredited business or organization agrees to:
- Have been operational (actively selling products or services) in any BBB service area for at least the most recent 12 months, unless the principal(s) previously operated a similar business with an eligible record (one that qualifies for BBB accreditation).
- Fulfill all licensing and bonding requirements of applicable jurisdictions; provide all license and bonding information upon application for BBB accreditation; and provide periodic updates upon request of the BBB.
- Be free from government action that demonstrates a significant failure to support the BBB ethical principles in marketplace transactions (this requires a determination by the BBB as to the nature of any violation, whether it was caused or condoned by management, and actions taken to resolve underlying issues that led to the government action).
- Be free from an unsatisfactory rating and maintain the minimum grade requirement at the accrediting BBB and the BBB where it is headquartered, if different.
- In its relationship with the BBB:
  - meet all applicable standards within this Code of Business Practices
  - cooperate with the BBB’s activities and efforts to promote voluntary self-regulation within the business’ industry
  - honor any settlements, agreements or decisions reached as an outcome of a BBB dispute resolution process
  - complete the required application and pay all monetary obligations to the BBB in a timely manner
Advertise Honestly
Adhere to established standards of advertising and selling.
- Follow federal, state/provincial and local advertising laws.
- Abide by the BBB Code of Advertising. Supply, upon request, substantiation for advertising and selling claims. Correct advertising and selling practices, when recommended by the BBB.
- Adhere to applicable BBB industry codes of advertising.
- Cooperate with the BBB self-regulatory programs for the resolution of advertising disputes.
- Use the BBB name and logos in accordance with BBB policy.
- Avoid misleading customers by creating the false impression of sponsorship, endorsement, popularity, trustworthiness, product quality or business size through the misuse of logos, trustmarks, pictures, testimonials, or other means.
Tell the Truth
Honestly represent products and services, including clear and adequate disclosures of all material terms.
- Make known all material facts in both written and verbal representations, remembering that misrepresentation may result not only from direct statements but by omitting or obscuring relevant facts.
- Ensure that any written materials are readily available, clear, accurate and complete.
Be Transparent
Openly identify the nature, location, and ownership of the business, and clearly disclose all policies, guarantees and procedures that bear on a customer’s decision to buy.
- Upon request, provide the BBB with all information required to evaluate compliance with the BBB standards. This may include, but is not limited to business name, address and contact information; names and background of principals; business and banking references; licensing and/or professional accreditation; and a complete description of the nature of the business.
- Clearly disclose to customers:
  - direct and effective means to contact the business
  - terms of any written contract
  - any guarantees or warranties accompanying a product
  - any restrictions or limitations imposed (e.g. limited supply, maximum number available per customer)
  - the business’ return/refund policy
  - any recurring commitment into which the customer may be entering, including information on how future billing will occur
  - total cost of the transaction, including tax, shipping and handling, and other related charges
- If selling products or providing services on Web sites or via other electronic means:
  - provide any required product labeling information
  - disclose the nature and terms of shipping, including any known delays or shortages of stock
  - provide an opportunity to review and confirm the transaction before the sale is completed
  - provide a receipt summarizing the transaction after the purchase
Honor Promises
Abide by all written agreements and verbal representations.
- Fulfill contracts signed and agreements reached.
- Honor representations by correcting mistakes as quickly as possible.
Be Responsive
Address marketplace disputes quickly, professionally, and in good faith.
- Promptly respond to all complaints forwarded by the BBB by:
  - Resolving the complaint directly with the complainant and notifying BBB, or
  - Providing the BBB with a response that the BBB determines:
    - is professional,
    - addresses all of the issues raised by the complainant,
    - includes appropriate evidence and documents supporting the business’ position, and
    - explains why any relief sought by the complainant cannot or should not be granted.
- Make a good faith effort to resolve disputes, which includes mediation if requested by the BBB. Other dispute resolution options, including arbitration, may be recommended by the BBB when other efforts to resolve a dispute have failed. The BBB may consider a business’ willingness to participate in recommended dispute resolution options in determining compliance with these standards.
- Comply with any settlements, agreements or decisions reached as an outcome of a BBB dispute resolution process.
- Cooperate with BBB in efforts to eliminate the underlying cause of patterns of customer complaints that are identified by the BBB.
Safeguard Privacy
Protect any data collected against mishandling and fraud, collect personal information only as needed, and respect the preferences of customers regarding the use of their information.
- Respect Privacy
  - what information they collect,
  - with whom it is shared,
  - how it can be corrected,
  - how it is secured,
  - how policy changes will be communicated, and;
  - how to address concerns over misuse of personal data.
- Secure Sensitive Data
  Businesses that collect sensitive data online (credit card, bank account numbers, Social Security number, salary or other personal financial information, medical history or records, etc.) will ensure that it is transmitted via secure means.
  Businesses will make best efforts to comply with industry standards for the protection and proper disposal of all sensitive data, both online and offline.
- Honor Customer Preferences
  Businesses agree to respect customer preferences regarding contact by telephone, fax and e-mail, and agree to remedy the underlying cause of any failure to do so.
Embody Integrity
Approach all business dealings, marketplace transactions and commitments with integrity.
- Avoid involvement, by the business or its principals, in activities that in the opinion of the BBB reflect unfavorably on, or otherwise adversely affect the public image of the BBB or its accredited businesses.

Find out more at bbb.org

naea

Emerald Tax & Financial Services — Sun, 13 Nov 2011 10:11:23 +0000

About NAEA

The National Association of Enrolled Agents (NAEA) is a national association of over 11,000 independent, licensed tax professionals called Enrolled Agents (EA). The association is dedicated to helping its members maintain the highest level of knowledge, skills and professionalism in all areas of taxation, so that their members may most effectively represent the needs of their clients.

Members of NAEA are required to complete a minimum of 30 hours of continuing professional education each year in the interpretation, application and administration of federal and state tax laws in order to maintain membership in the organization. This requirement surpasses the IRS required minimum of 16 hours per year.

NAEA’s Mission

Foster the professionalism and growth of its Members;
Be an advocate of taxpayer rights;
Protect the interests of its Members; and
Enhance the role of the Enrolled Agent among government agencies, other professions and the public at large.

Find out more at naea.org or look at Enrolled Agent Brochure