by Leif Jensen | Jul 23, 2011 | General |
The IRS is investigating the paid preparers who continued to utilize their Social Security numbers or invalid pin last tax year instead of a valid tax preparer pin. The IRS has begun mailing letters this month to 100,000 or so of these preparers. The notices tell...
by Leif Jensen | Jul 22, 2011 | General |
According to Labor Department data; thirty percent of America’s jobless, 4.4 million people, have been out of work for more than a year (these are U3 statistics not U6, where the numbers will be higher). “It really is going to take a concentrated effort of employers...
by Leif Jensen | Jul 22, 2011 | General |
made the payroll tax payments as required. But, they had notified management that the payments were done for the 4th Qtr. With that person no longer there, I was working with the new bookkeeper and discovered the non-payment. After verifying that they were not done,...
by Leif Jensen | Jul 21, 2011 | General |
Fiscal 2011 bring with it the creation of the 1099-K. The IRS has created this form for reporting Merchant Card and Third-Party Payments made with your tax id (social security number or FEIN). Now before you say this obviously is not me, what they are referring to is...
by Leif Jensen | Jul 21, 2011 | General |
The IRS has been very busy creating new forms and altering old ones. For Tax Year 2011 the IRS has eliminated Cost of Goods Sold from the 1120S, you will not find it on page 2 under Schedule A. I am sighting this example since more of my business clients are...
by Leif Jensen | Jul 18, 2011 | General |
When we hear what the unemployment rate is we only hear about those whom have been actively looking for the last 4 weeks. This does not included those who have settled in underemployment, gave up, looking for more hours etc. This is referred to as the U3...
