February 12, 2016
Steve Grgas
Blog Posts
0 CommentsNew ACA information forms debut for 2016 filing season As the 2016 filing season gets underway, many individuals will be receiving new information returns from their employers and/or health insurance providers. The information returns reflect new reporting requirements put in place by the Affordable Care Act. Some taxpayers will need to wait to file their […]
Read moreFebruary 12, 2016Steve GrgasBlog Posts0 CommentsTax-related identity theft remains serious problem as filing season begins In recent years, identity theft has mushroomed and as the filing season starts, tax-related identity theft is especially prevalent. Identity thieves typically file fraudulent returns early in the filing season, before unsuspecting taxpayers file their legitimate returns. Criminals gamble that the IRS will not detect […]
Read moreFebruary 12, 2016Steve GrgasBlog Posts0 CommentsHow do I? Prove business expenses Everyone in business must keep records. Among other things, good records will help a business prepare the business tax returns, and will support items reported on tax returns. Taxpayers also must keep their business records available for inspection by the IRS. In order to claim any deduction, a business […]
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February 12, 2016Andrew PrestiBlog Posts0 CommentsFebruary 2016 tax compliance calendar As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important tax reporting and filing data for individuals, businesses and other taxpayers for the month of February 2016. February 1 Individuals. Individuals may file their 2015 Form […]
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February 12, 2016Wayne NaegeleBlog Posts0 CommentsFAQ: Can the IRS impose penalties if a return is not filed/tax not paid? Yes, the IRS can impose penalties if a tax return is not timely filed or if a tax liability is not timely paid. As with all IRS penalties, the rules are complex. However, a taxpayer may avoid a penalty if he […]
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February 12, 2016Salvatore RussoBlog Posts0 CommentsTransit benefits parity made retroactive and permanent The Protecting Americans from Tax Hikes Act of 2015 (PATH Act) extended and enhanced many popular tax breaks for individuals and businesses. Included in the large number of extended incentives is transit benefits parity. Moreover, Congress made transit benefits parity permanent. Many individuals may benefit from this tax […]
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