Tax law changes join staffing as a top issue for CPA firms

By Courtney L. Vien Finding qualified staff and keeping up with changes to tax law are among CPA firms’ top concerns, according to the 2019 PCPS CPA Firm Top Issues Survey. Sole practitioners ranked keeping abreast of tax law changes as the issue that impacted them the most, while firms employing two to 20 professionals […]

2019 federal tax legislation starting to take shape

In the first significant action on tax legislation in the new Congress, the House Ways and Means Committee, on April 2, 2019, approved three bills, the Building on Reemployment Improvements to Deliver Good Employment for Workers (BRIDGE for Workers) Act (H.R. 1759), the Setting Every Community Up for Retirement Enhancement (SECURE) Act (J.R. 1994), and […]

With tax-filing deadline nearing, IRS says about 50 million still need to file

IR-2019-72, April 12, 2019 WASHINGTON — With the April tax-filing deadline just days away, the Internal Revenue Service reminds the 50 million taxpayers who have yet to file their tax returns that there are a variety of options to help them in the final days of tax-filing season. About 153 million individual tax returns for […]

Tax Time Guide: IRS urges taxpayers to check their tax withholding early in 2019; Paycheck Checkup can avoid problems next year

WASHINGTON – The Internal Revenue Service today renewed its effort to encourage taxpayers to review their tax withholding using the IRS Withholding Calculator and make any needed adjustments early in 2019. Doing a Paycheck Checkup can help taxpayers avoid having too little or too much tax withheld from their paychecks. The IRS reminds taxpayers that […]

IRS: Don’t be victim to a ‘ghost’ tax return preparer

IR-2019-09, February 7, 2019 WASHINGTON – Today, towards the end of the second full week of the 2019 tax filing season, the Internal Revenue Service warned taxpayers to avoid unethical tax return preparers, known as ghost preparers. By law, anyone who is paid to prepare or assist in preparing federal tax returns must have a […]

IRS confirms tax filing season to begin January 28

IR-2019-01, January 7, 2019 WASHINGTON — Despite the government shutdown, the Internal Revenue Service today confirmed that it will process tax returns beginning January 28, 2019 and provide refunds to taxpayers as scheduled. “We are committed to ensuring that taxpayers receive their refunds notwithstanding the government shutdown. I appreciate the hard work of the employees and […]

Payroll Newsletter Fall 2017

Steele Martin Jones & Company Certified Public Accountants and Business Advisors     Payroll Newsletter Fall 2017   Changes that did not occur…it’s better this year!     Salaried vs. Hourly Employees In last year’s payroll newsletter, we told you about the impending big changes on salaried vs. hourly rules, to be effective 12/1/16.  A […]

IRS Cautions Taxpayers to Watch for Summertime Scams

IR-2017-112, June 26, 2017 WASHINGTON – The Internal Revenue Service today issued a warning that tax-related scams continue across the nation even though the tax filing season has ended for most taxpayers. People should remain on alert to new and emerging schemes involving the tax system that continue to claim victims. “We continue to urge […]

The IT team: A firm’s most important asset

Would you like to improve your client service offering, increase your revenue and enhance your firm’s data security? Would you like to do this at no additional cost? It is not only possible, but also fairly straightforward due to a secret resource in your firm: your own IT team. Even if your firm doesn’t have […]

Health Care Law Brings Changes to IRS Tax Forms

IRS Health Care Tax Tip 2015-01, January 13, 2015 This year, there are some changes to tax forms related to the Affordable Care Act. Along with a few new lines on existing forms, there will also be two new forms that will need to be included with some tax returns. While most taxpayers will simply […]