January Important Info

by in Newsletter on Jan. 5, 2017

All Employers:  Give your employees their copies of Form W-2 for 2016 by January 31, 2017.

All Businesses:  Give annual information statements to recipients of certain payments you made during 2016.

 

NOTE:  W2’s for employees and 1099’s for workers who are not considered employees now must be filed with the IRS by January 31, 2017.  This due date used to be February 28th.  Penalties will accrue if not filed on time.

Monthly Newsletter for January 2017

by in Newsletter on Jan. 3, 2017

IRS, States, Industry Urge Taxpayers to Learn Signs of Identity Theft

No matter how careful you are, identity thieves may be able to steal your personal information. If this happens, thieves try to turn that data quickly into cash by filing fraudulent tax returns.

The IRS, state tax agencies and the nation’s tax industry ask for your help in their effort to combat identity theft and fraudulent returns. Working in partnership with .

Monthly Newsletter for December 2016

by in Newsletter on Dec. 7, 2016

Tax Preparedness Series: Tax Records – What to Keep

WASHINGTON – As tax filing season approaches, the Internal Revenue Service has information for taxpayers who wonder how long to keep tax returns and other documents.

Generally, the IRS recommends keeping copies of tax returns and supporting documents at least three years. Some documents should be kept up to seven years in case a taxpayer needs to file .

Monthly Newsletter for November 2016

by in Newsletter on Oct. 28, 2016

IRS and Security Summit Partners Warn of Fake Tax Bills

The Internal Revenue Service and its Security Summit partners today issued an alert to taxpayers and tax professionals to be on guard against fake emails purporting to contain an IRS tax bill related to the Affordable Care Act.

The IRS has received numerous reports around the country of scammers sending a fraudulent version of CP2000 notices for tax year 2015. Generally, the .

Monthly Newsletter for October 2016

by in Newsletter on Oct. 4, 2016

 

               Ingenious Scan Targets Taxpayers

 

Crooks have tried all sorts of e-mail scams, but almost everyone has figured out that the IRS does not send out notices by e-mail.  So crooks have changed their tactics.  Now, there are reports of taxpayers receiving by mail fake notices requiring immediate payment to a P.O. Box.  The P.O. Boxes are located in cities where the IRS has service centers, but of course are not .

Monthly Newsletter for September 2016

by in Newsletter on Aug. 23, 2016

IRS Warns of Back-to-School Scams; Encourages Students, Parents, Schools to Stay Alert

WASHINGTON — The Internal Revenue Service today warned taxpayers against telephone scammers targeting students and parents during the back-to-school season and demanding payments for non-existent taxes, such as the “Federal Student Tax.”

People should be on the lookout for IRS impersonators calling students and demanding that they wire money immediately to pay a fake “federal student tax.” If the person .

Monthly Newsletter for August 2016

by in Newsletter on Jul. 18, 2016

Tax Tips for Students Working this Summer

IRS Special Edition Tax Tip 2016-11, June 28, 2016

Many students get summer jobs. It’s a great way to earn extra spending money or to save for later. Here are some tips for students with summer jobs:

  1. Withholding and Estimated Tax.If you are an employee, your employer normally withholds taxfrom your paychecks. If you are self-employed, you may be responsible for paying taxes directly to the .

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: