Monthly Newsletter for July 2016

by in Newsletter on Jul. 6, 2016

Please consider these steps to protect yourselves from identity thieves:

Keep Your Computer Secure

  • Use security software and make sure it updates automatically; essential tools include:
  1. Firewall
  2. Virus/malware protection
  3. File encryption for sensitive data
  • Treat your personal information like cash, don’t leave it lying around
  • Check out companies to find out who you’re really dealing with
  • Give personal information only over encrypted websites – look for “https” addresses
  • Use strong passwords and protect them
  • Back up your files

 

Avoid Phishing and .

Monthly Newsletter for June 2016

by in Newsletter on May. 20, 2016

Most Recent Scams

Tax Refund Scam Artists Posing as Taxpayer Advocacy Panel

A new email scam targeting taxpayers has emerged. According to the Taxpayer Advocacy Panel (TAP), taxpayers are receiving emails that appear to be from TAP about a tax refund. These emails are a phishing scam, where unsolicited emails which seem to come from legitimate organizations — but are really from scammers — try to trick unsuspecting victims into providing personal .

Monthly Newsletter for May 2016

by in Newsletter on May. 5, 2016

Now is a Good Time to Plan for Next Year’s Taxes

You may be tempted to forget about your taxes once you’ve filed but some tax planning done now may benefit you later. Now is a good time to set up a system so you can keep your tax records safe and easy to find.  Here are some IRS tips to give you a leg up on next year’s taxes:

Monthly Newsletter for April 2016

by in Newsletter on Apr. 21, 2016

Things You Should Know about Filing Late and Paying Penalties

April 18 was this year’s deadline for most people to file their federal tax return and pay any tax they owe. If you are due a refund there is no penalty if you file a late tax return. If you owe tax, and you failed to file and pay on time, you will most likely owe .

Monthly Newsletter for March 2016

by in Newsletter on Feb. 23, 2016

Six Reasons to Choose Direct Deposit for Your Tax Refund

When you file your taxes, you have options on how to receive your refund. The best way to get it is by direct deposit. Eight out of 10 taxpayers get their refunds by direct deposit. Here are six good reasons why you should do the same in 2016:

IRS Direct Deposit:

1. Is Fast.  The fastest way to .

Monthly Newsletter for February 2015

by in Newsletter on Jan. 26, 2016

Six Reasons to E-file your Taxes in 2016

IRS Tax Tip 2016-01, January 19, 2016

Are you one of the few tax filers who still file a paper return? If so, now may be the best time to switch to e-file. Last year almost 129 million taxpayers filed their taxes electronically. They chose to e-file because it’s the fastest and safest way to file.

Here are the top six reasons why you should .

IRS Sends Corrected Letter for Identity Protection (IP) Pin

by in Newsletter on Jan. 18, 2016

The IRS has begun mailing follow-up letters to taxpayers noting that the Identity Protection (IP) PIN they received in a prior mailing is valid despite the incorrect reference to the year. Please be aware the IP PIN listed on the CP 01A notice dated Jan. 4, 2016, is valid for use on individual tax returns filed in 2016. The earlier notice incorrectly indicates the IP PIN issued is to .

Monthly Newsletter for January 2016

by in Newsletter on Jan. 5, 2016

During January

 

All Employers:  Give your employees their copies of Form W-2 for 2015 by February 1, 2016.

All Businesses:  Give annual information statements to recipients of certain payments you made during 2015.  You can use the appropriate version of Form 1099 or other information return.  Payments that may be covered include the following:

Cash Payments for fish or other aquatic life purchased from anyone engaged in the trade or business of catching .

Monthly Newsletter for December 2015

by in Newsletter on Dec. 9, 2015

Affordable Care Act 2016 Requirements for Small Business

 

Many small businesses haven’t had to pay particularly close attention to the legislation, as they are generally exempt from Affordable Care Act mandates.  But there are a few things you will want to keep in mind about how you will – or won’t – be affected by the ACA in 2016, particularly if your business employs 51-99 people.

If you have 50 or fewer .

Monthly Newsletter for November 2015

by in Newsletter on Nov. 2, 2015

Time to Check Your Withholding

WASHINGTON — The Internal Revenue Service reminds taxpayers that the earlier in the year they check their withholding, the easier it will be to get the right amount of tax withheld.

Besides wages, income tax is often withheld from other types of income, such as pensions, bonuses, commissions and gambling winnings. Ideally, taxpayers should try to match their withholding with their actual tax liability. If not enough .