taxid_web

Tax ID Theft – Fraudulently Filed Returns

Tax ID Theft

No question, tax ID theft is an increasingly common problem. If you have been unscathed so far, count yourself as lucky. Just ask around, and you will be surprised to see how many individuals have been impacted by this nasty problem. So, what do you do if you if you become a victim? Read More >

general contractors 2

New Sales and Use Tax Law Helps Contractors

The New Sales and Use Tax Law helps contractors. Effective January 1, 2016, Wisconsin sales and sales and use tax law for construction contractors performing projects for non-profit entities and tax exempt government entities changed. Eligible contracts are those entered into, on, or after that date.
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IRS building sign

IRS Corrects Year Listed in Identity Protection PIN Letters

IRS Corrects Year Listed in Identity Protection PIN Letters

The Internal Revenue Service said Tuesday that taxpayers are receiving letters with the wrong date listed for their Identity Protection Personal Identification Numbers, which are generally issued to victims of tax-related identity theft. Read More >

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ACA Reporting Requirements – Take Action Now!

ACA Reporting Requirements

It has been a few years since ObamaCare, also known as the Patient Protection and Affordable Care Act (ACA), was passed.  It’s probably been long enough that some employers have forgotten about the reporting requirements associated with the ACA. If you haven’t taken action to initiate the information gathering needed to comply with these requirements, immediate action may be required NOW. Read More >

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Tax Return Due Date Changes

As of July 31, 2015, based upon the signing of a new tax law, due dates and extended due dates of certain tax returns will be changing. Only Form 1120S and Form 1040 due dates will remain the same as in the past. Generally, returns with a year end after December 31, 2015 (2016 returns) will be affected. The table below summarizes the changes: Read More >

taxid_web

Steps to Take if You Become a Victim of Tax ID Theft

No question, tax-related identity theft is an increasingly common problem. If you have been unscathed so far, count yourself as lucky. Just ask around, and you will be surprised to see how many individuals have been impacted by this nasty problem. So, what do you do if you if you become a victim?

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business partnership

Partnership Audits

Did the IRS Fail?

A recent study released by the Treasury Inspector General for Tax Administration (TIGTA) estimated the IRS failed to assess over $14 million in taxes, interest and penalties for the year 2010. While this may not be large, it has caught the attention of Congress and the Treasury. One may think this is a failure of IRS administration, but in fairness, partnerships have become the preferred business entity over the last 20 years and the partnership audits process can be unwieldy and time consuming, resulting in prolonged audits.

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