NEW SCAMS

New Scam, Stimulus, Covid-19

Sadly, it did not take long for scammers to take advantage of the programs being offered to help individuals and businesses through this current situation. Don't let your guard down! Remember, the IRS and banks will not contact you for bank account information or to verify social security numbers or information on your tax return. Also, you should not pay anyone a fee to process your stimulus check. The Federal Communications Commission (FCC) is receiving reports of potential scams, warning on their website:

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Families First Coronavirus Response Act

President Trump signed the Families First Coronavirus Response Act (FFCRA H.R. 6201) shortly after it passed through the Senate on March 18, 2020. The legislation applies to companies with 500 employees or less employees. The employer cost of these expanded programs will be absorbed by available tax credits included in the bill.

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APRIL 15TH FILING AND PAYMENT DEFERRAL INFORMATION

Yesterday, Treasury Secretary Mnuchin announced plans for the federal government to allow a deferral of tax payments for individuals up to $1 million and Corporations up to $10 million originally due April 15th to be paid by July 15, 2020 without incurring penalty and interest charges. The filing deadlines of those returns have not been automatically extended, so individual and C Corporation returns without a filing extension, are still due on April 15th .

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Benefits of Outsourcing

Outsourced Accounting

Business clients often ask us:  Should we outsource our accounting needs?  What exactly are the benefits we can expect?

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2019-2020 Tax Tips and Planning Strategies

Year-End Tax Planning

As we near the end of 2019, we are sharing an overview of the most significant changes under the Tax Cuts and Jobs Act (TCJA) and other key tax provisions you need to be aware of moving into 2020 with strategies for your individual and business situation. For a copy of our planning guide, contact us at info@brinkersimpson.com.

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Important Changes Coming on the Fair Labor Standards Act

As we near the beginning of the end (of 2019), it is crucial that employers account (literally and figuratively) for changes in the law.

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HOW'S YOUR SUMMER BEEN?

Tax-Tip Tuesday, Individual, IRS Tax Tip

These summer activities can affect next year’s tax returns. Here are some things taxpayers do during the summer along with tips they should consider now:

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IRS SCAM ALERT

IRS Scam Warning, Tax-Tip Tuesday, New Scam, Fake Calls, IRS Tax Tip

Scam artists don't take summer vacations!  With scam artists hard at work all year, taxpayers should be on the lookout for a surge of evolving phishing emails and telephone scams.

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Received a notice from the IRS? Don't panic!

Brinker Simpson, Tax-Tip Tuesday, Tax Return Error, Individual, 1040, Tax Questions, IRS Tax Tip

Here’s what taxpayers should know if they get a notice from the IRS

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2017 TAX REFORM PROPSAL

2017, Tax Reform, President Trump

On Wednesday, April 26th, the White House released President Donald Trump’s tax reform goals and key priorities. The reform proposes slashed corporate tax rates, flattened individual marginal income tax brackets, and repeal of the estate and alternative minimum taxes.

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