Even though you just put your 2016 tax return to bed, you cannot rest easy. It is already time to pay attention to your tax liability for 2017. Significantly, you may be required to pay installments of “estimated tax” for this year, especially if you are self-employed or retired. The next due date for quarterly [...]
Employers are reminded that on November 14, 2016, the U.S. Citizenship and Immigration Services (USCIS) released an updated version of Form I-9, Employment Eligibility Verification. Employers were required to begin use of the revised Form I-9 on January 22, 2017. Employers that fail to use Form I-9 (rev. 11/14/2016) on or after January 22, [...]
The IRS has renewed its warning about an email scam that targets payroll and human resources departments. The scam involves a spoofing email in which a company's CEO apparently requests a list of employees and information including social security numbers or copies of their Form W-2. The scam, which first appeared last year, is [...]
By: Kasey Powell, CPA, CPE Kasey is a senior accountant, certified fraud examiner, and a member of the JMF Timber Practice Group. Kasey Powell Vcard Kasey Powell LinkedIn Profile This year represents the 20th anniversary of the inaugural Association of Certified Fraud Examiner's (ACFE) Report to the Nation on Occupational Fraud and Abuse: 2016 Global Fraud Study. [...]
If you are an employer, you've probably heard that there are new laws about who qualifies for overtime pay. It's been about two years in the making. The most important items to understand are: The 2016 salary threshold is $913 per week or $47,476 annually for a full-year worker. That's adjusted down slightly from earlier reports. [...]
Yesterday the Treasury Inspector General for Tax Administration issued a press release (below) concerning what they are calling the "Largest Ever" phone fraud scam targeting taxpayers. BEWARE of phone calls from individuals claiming to represent the Internal Revenue Service (IRS) in an effort to defraud you. These calls have hit taxpayers in nearly every state in [...]
While we are a CPA firm and we complete and we welcome many individual tax returns, for some people it doesn't make sense to pay a CPA to complete their tax return. If you have complex tax issues, it may well be in your best interest to consult a CPA because we specialize in tax planning and tax preparation [...]
It has come to our attention at JamisonMoneyFarmer PC that there is an e-mail scam currently circulating targeting international taxpayers. This scam is in the form of an e-mail purportedly from the Department of Treasury Internal Revenue Service. It suggests that you should complete a W-8 BEN form and fax it to a link in the [...]
In a recent article in the Globe and Mail by Jennifer Warawa, nine reasons to work with an accountant were discussed. While this may seem self serving coming from an accountant, I see so many start up problems that could have been prevented with a short visit that I find this worth sharing. Here is [...]
The IRS announced last week that they have delayed the shared-responsibility requirement for employers who have 50-99 full-time equivalent employees in 2014. These employers will now have until 2016 to offer health care coverage to their employees or be subject to the shared-responsibility payments. These employers will be required to start reporting for health care [...]