26Jan
Dealing With Identity Theft
Security

16794969011_2f725f6553_hHOW TO DEAL WITH IDENTITY THEFT

Quite often, the first indication you are a victim of identity theft is when you file a tax return only to find out a return has already filed under your name. Another common scenario is when you hear of a business (or the government) being hacked. Of course, you were a customer of the business, and the company’s records held your personal information.

At this point, you are faced with the question: What should I do? This is where I found myself last spring, as a former federal employee, after the federal government was hacked.

Unfortunately, once a thief has your information, you have to assume that the risk of it being used will never go away. When you find yourself in this situation, you have several options:

Read More
25Jan
Stay Vigilant: Be Aware of These IRS Scams This Tax Season
Security

box full of junk mailEach year as tax season draws near, there’s an uptick in phishing scams. Far too many American citizens fall victim to these malicious scams, which take advantage of taxpayers working on their 2015 returns. While it is important to remain vigilant throughout the year, the next five months are of particular importance for both businesses and individuals.

Read More
13Dec
Changes to Filing Dates
Taxes

As part of the Highway funding bill that passed earlier this year, there will be a change in the due dates of tax returns for tax years beginning after December, 2015.

For calendar year 2016 tax returns, partnership will now be due on March 15, 2017 which is a month earlier.  Previously partnership returns were not due until April 15.

C corporation returns will now be due April 15, 2016 which is a month later.  Previously these were due on March 15.

If you have any questions about these changes or how they may affect your filing, please contact our office.

Read More
13Dec
FAFSA Changes Make 2015 Very Important Tax Year
Taxes

If you have a college student or high-school senior, you need to be aware of some big changes to the rules for filing a Free Application for Federal Student Aid (FAFSA). Your 2015 income will have double the impact on college aid packages since President Obama signed an Executive Order on September 14, 2015, effectively changing the method of using prior year income to a new prior-prior year method.

This new method will make it easier for most families to fill out the FAFSA and get the appropriate information to their choice colleges so that financial aid packages can be determined.

Read More