We thank Insight Business Coaching in Wixom for this wise article. eas ************************************************* “If a man does not know to what port he is steering, no wind is favorable to him.” – Seneca When a business owner is too busy working “IN” their business rather than “ON” their business, it can seem like revenues have […]
Posts by Category: Business Tax
Business Tax Preparation. EA Schensky excels in providing expert advice and service in the preparation of business tax preparation. If we also handle your accounting, then we can save time in preparation.
Tax Deadline for 2015 Returns is DIFFERENT!!! April 18th….
Just an FYI from EA Schensky & Associates The IRS has announced that most taxpayers will have until April 18, 2016 to file their 2015 tax return and make first quarter estimated payments. In Revenue Ruling 2015-13, the IRS explains that when April 15 falls on a weekend or holiday, a return is considered timely […]
Was My Tax Preparer ID# Hijacked?
Effective immediately, the IRS has given Enrolled Agents a way to monitor whether their ID # has been hijacked in the creation of falsified tax returns. THANK GOODNESS!!!! There once was a day when I had to put my Social Security number on every return that I prepared… When the IRS gave us a special […]
IRS’s Dirty Dozen Tax Schemes
Every year the IRS releases a list warning taxpayers about common tax scams. The IRS’ intent of issuing this annual list is to protect the public, warn scammers and to help unsuspecting taxpayers avoid penalties and interest that could result from a tax scam. Here is the IRS’ “Dirty Dozen” list for 2015: 1. Phone […]
Claiming Casualty Losses for Your Home or Business
This year has brought more casualty losses to our office than ever before. Michigan’s flooding this past summer was the source. Our one regret was not being able to get more help for folks here who lost A LOT! eas Living in the Midwest comes with plenty of perks. One of these perks is experiencing […]
Threat of IRS Phone Tax Scam Continues
We have seen over two dozen clients from this office with either identity theft (two currently in our office) or phone scams. If you want to report a scam call, contact TIGTA through the irs.gov website. They have a simple form that can be completed thereby logging your circumstance as well as the phone number […]
Add Yourself to One List or the Other – Tax Extensions !!!!!
Three days to go before April 15th arrives… at that point it is TOO LATE to do anything to help yourself!!!! The IRS has received almost 100 million tax returns so far this year and expects to receive about 35 million more by the April 15 filing deadline. Another 12 million taxpayers will have requested […]
Form 990 E-mail Not a Scam
The IRS and the Urban Institute’s National Center for Charitable Statistics (NCCS) have announced that NCCS’s system has been hacked and the information compromised. The NCCS handles the online filing of Forms 990, 990EZ and 990N for the IRS. Information compromised includes usernames, email addresses, IP addresses, phone numbers and passwords associated with nonprofit organizations […]
Affordable Care Act: What employers need to know
The health care law contains tax provisions that affect employers. The size and structure of a workforce – small, or large – helps determine which parts of the law apply to which employers. The number of employees an employer has during the current year determines whether it is an applicable large employer (defined below) for […]
Employer Relief for $100 a Day ACA Penalty
from the National Association of Tax Professionals | February 20, 2015 ACA Penalty Relief The IRS has issued Notice 2015-17 clarifying the application of Notice 2013-54 to certain situations. The notice provides relief for employers who are not applicable large employers (ALES), as defined in §4980H. In summary, the IRS will not assess any penalties […]