Form 1099 Filing Requirements If you made a payment during the calendar year **as part of your trade or business**, you are likely required to file a 1099 or Information Return with the IRS. Form 1099-MISC would be issued for…

  Are you ready for the new due dates for 2016 tax returns due in 2017?  Recently enacted legislation has changed some due dates in order to facilitate a more logical flow of information, allowing taxpayers and preparers more ability…

Casualty Losses  Personal Property Those affected by the recent floods may qualify for casualty loss deductions.  These losses are reported on Form 4684, Casualties and Thefts.  The loss is limited to the lesser of cost or decrease in FMV of…

This question is a rather common one and the answer is, “It depends”.  The IRS and most states require taxpayers to “pay as you go”.  For many of us, that consists of having taxes withheld from our paychecks.  In that…

Many of our clients have always filed their tax returns using the old-fashioned, tried and true method of paper returns, mailed in to IRS, LDR or another taxing authority. Some feel that there is added security filing this way. Every…

Recently a few PRM clients have been the target of some very brash and sinister scam artists posing as IRS affiliates. In over 40 years as a CPA it is easy for me to recognize an IRS scam, but the…