- The April 18th IRS individual tax filing deadline is fast approaching.
- Even if you do not have all of your paperwork, it might make sense to get your return mostly prepared as we face the upcoming tax filing deadline. Call our office before the late rush.
- Don't Be Scammed by Fake Charities
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Each year at this time, the IRS publishes its list of the "dirty dozen" tax scams. Among the dirty dozen are groups that masquerade as charitable organizations to attract donations from unsuspecting contributors. Before you write a check, be aware that fraudsters are out there soliciting on behalf of bogus charities and that some so-called charities aren't entirely honest about how they use contributions.
- Important Due Date: Foreign Account Reporting Requirements (FBAR)
- U.S. citizens and residents with a financial interest in or signature or other authority over any foreign financial account need to report that relationship by filing FinCEN Form 114 by April 18, 2017 if the aggregate value of the accounts exceeds $10,000 at any time during 2016. Failure to file can result in draconian penalties.
- Did you end up owing taxes this year and can’t pay them?
- Nothing can be more stressful than finding out you owe the IRS when calculating your taxes when you already are struggling. The issue of course, is even though you can’t pay the tax, you still must file your tax return by the deadline.
- Health Reimbursement Arrangements Approved For Qualified Small Employers
- Under the Affordable Care Act (ACA or Obamacare), a health reimbursement arrangement (HRA) is treated as a group health plan, and as such, it has to meet all of the ACA’s market-reform requirements, which is not possible for the typical HRA. Stand-alone HRAs do not meet two key requirements of the ACA in that they:
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