With the start of hurricane season our firms encourage individuals and businesses to safeguard their records against natural disasters by taking a few simple steps.
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If you received Letter 4883C, it is not fraud. It is a legitimate request, from the IRS, asking you to verify your identity. The letter will contain instructions to call the toll-free IRS Identity Verification telephone number at 800-830-5084. Before you call, gather the following items:
With continuing phone scams and in-person scams taking place across the country, the IRS reminds taxpayers that IRS employees do make official, sometimes unannounced, visits to taxpayers as part of their routine casework. Taxpayers should keep in mind the reasons these visits occur and understand how to verify if it is the IRS knocking at their door.
With another busy season behind us, now is a great opportunity to think about what comes next. For many of our member firms, this means revisiting marketing and business development activities that were put on hold. These next six to eight weeks are a great opportunity to refocus, plan and implement. One area to consider evaluating might be your approach to corporate social responsibility (CSR).
Taxpayers who are victims of a disaster might need to reconstruct records to prove their loss. Doing this may be essential for tax purposes, getting federal assistance, or insurance reimbursement.
According to the Internal Revenue Service, there are 12 things taxpayers can do to help reconstruct their records after a disaster:
This year’s annual meeting was in Philadelphia, Pennsylvania. We had over 20 attendees including members, prospects and international guests attend the two-and-a-half-day conference. Below is a synopsis of the session highlights.
A reminder for small business owners who work from a home office that there are two options for claiming the Home Office Deduction. The Home Office Deduction is often overlooked by small business owners. Regular Method The first option for calculating … Continued
We spend a substantial portion of our day consuming an incredible amount of content. We scroll, skim and forget; retaining only the most memorable information. Reflecting on our behavior provides insight as to how the content your firm produces is … Continued
The Internal Revenue Service, state tax agencies and the tax industry caution both tax professionals and taxpayers of last-minute phishing email scams, especially those requesting last-minute deposit changes for refunds or account updates. As the 2017 tax filing season winds … Continued