The IRS receives thousands of reports every year from taxpayers who receive emails out-of-the-blue claiming to be from the IRS. Scammers use the IRS name or logo to make the message appear authentic so you will respond to it. In…
Business Taxes
Getting started with Quickbooks
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1099Bookkeepers, LLC is your solution for installing and maintaining Quickbooks. Initial installation is the most important part of Quickbooks. Starting off on the right foot will keep you going in the right direction for years to come. Call us…
New Questions on 2011/2 Forms Could Be a Trap for the Unwary
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From the Parker Tax Library New questions regarding the filing of Forms 1099 have popped up on 2011 tax forms and are giving practitioners heartburn. Starting in 2011 Forms 1120 and 1120S, and Schedule C of Form 1040, all contain the…
Disaster Payments to Employees
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As we are all aware, Sandy was a first class disaster the like of which this region has never seen before. One of the tax responses to this disaster, as in any federal disaster, is that employers may make reasonable…
Keep Good Records Now to Reduce Tax-Time Stress
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You may not be thinking about your tax return right now, but summer is a great time to start planning for next year. Organized records not only make preparing your return easier, but may also remind you of relevant transactions,…
Tips for Employers Outsourcing Their Payroll
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Outsourcing payroll duties to third-party service providers can streamline business operations, but we remind employers that they are ultimately responsible for paying federal and state tax liabilities. Recent prosecutions of individuals and companies who – acting under the guise of…
Taxpayers Who Receive an IRS Notice
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Every year the Internal Revenue Service sends millions of letters and notices to taxpayers, but that doesn’t mean you need to worry. Many notices are routine and can be handled by the taxpayer. If you feel you need help with…
Potential trouble spots as IRS steps up enforcement
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Potential trouble spots as IRS steps up enforcement By Karen Hube, The Internal Revenue Service has added a couple of notches to its enforcement belt. First came the disclosure that international financial services giant Credit Suisse is under federal…
IRS Audits – Consultants and Professionals
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The IRS is looking at consultant and other professional income taxes and has issued new audit guidelines. One of the issues they are looking for is shifting income from one entity to another. The following is an excerpt from the…
Is the 60,000 page Tax Code too complex?
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….The Only Thing More Complex Than the Tax Code Is Figuring Out How to Fix It By Aaron Task | Daily Ticker April 18, 2011 Thanks to a quirk in the calendar, Americans had some extra time to file their…