Zinner & Co. Blog and Newsroom

IRS Announces it Will Waive Tax Penalties for Under-Withholding and Underpayment for Some

Posted by Zinner & Co. Tax Team on Jan 17, 2019 11:46:44 AM

The IRS announced this week in IRS Notice 2019-11 that it would not penalize taxpayers whose tax withholding and estimated tax payments fell short last year due to failing to change their withholding under the Tax Cuts and Jobs Act (TCJA).

Read More

Topics: withholding, tax, income tax, IRS, Tax Cuts and Jobs Act of 2017

No Good Deed Goes Unpunished

Posted by Howard J. Kass, CPA, AEP®, CGMA, Partner on May 4, 2018 2:47:00 PM

One Effect of the Recent Tax Reform on Not-for-Profit Organizations

By Howard J. Kass, CPA, CGMA, AEP®

As often as employers are maligned, there are times where they try to do the right thing for their employees.  To be fair, many times, an employer may take an action or incur an expense that benefits its employees, knowing that the employer will benefit by a tax deduction for incurring an expense.  In some cases, Congress encourages such behavior by explicitly permitting favorable tax treatment for certain programs.

One such case was a set of fringe benefits known as the “qualified transportation fringe” benefits that, in fact, received a double-barreled tax benefit for years, by virtue of Internal Revenue Code Section (IRC) 132(f)(5)(C).  Under that section, employers were allowed to take a deduction for, among other things, qualified parking fringe benefits that they provided to their employees. What, exactly, was a qualified parking fringe benefit?  Under IRC 132(f)(5)(C), “qualified parking” meant parking provided to an employee on or near the business premises of the employer, or on or near a location from which the employee commutes to work by transportation described in Code Sec. 132(f)(5)(A) (relating to “transit passes”), in a commuter highway vehicle, or by carpool

Read More

Topics: tax, taxes, not-for-profit, Tax Cuts and Jobs Act of 2017

Scam Alert: Fraudsters Posing as Taxpayer Advocacy Panel

Posted by Zinner & Co. Tax Department on Feb 15, 2018 10:46:42 AM

Some taxpayers receive emails that appear to be from the Taxpayer Advocacy Panel (TAP) about a tax refund. These emails are a phishing scam, trying to trick victims into providing personal and financial information.

 Do not respond or click any link. If you receive this scam, forward it to phishing@irs.gov and note that it seems to be a scam phishing for your information.

TAP is a volunteer board that advises the IRS on systemic issues affecting taxpayers. It never requests, and does not have access to, any taxpayer’s personal and financial information.

Read More

Topics: Brett W. Neate, Taxes - Corporate & Business, Taxes - Planning, Rules and Returns, Business - Management, Issues & Concerns, Taxes - Individual, tax, cybersecurity, IRS

8 Tax Issues to Consider When Your Spouse Dies

Posted by Zinner & Co. Tax Department on Jun 24, 2016 12:00:00 PM

It goes without saying that the death of one's spouse is typically an extremely difficult emotional trauma.  When one loses a spouse, the last thing on the surviving spouse’s mind is the tax issues to be addressed.  

Read More

Topics: tax, taxes, dead, filing, death, spouse

Can You Deduct Your PJs and Coffee? Getting Creative with Home Office Deductions

Posted by Zinner & Co. Tax Department on Jun 24, 2016 8:30:00 AM
Are you a business owner or contractor?  If your regularly work from home, you may be able to take advantage of a deduction for the business use of your personal residence. The home office deduction, however, has some specific requirements you should be aware of before claiming it on your tax return.
Read More

Topics: tax services, tax, deductions, home, office, home office

Straight Talk on Tax Day: When, How, and Where to File

Posted by Zinner & Co. Tax Team on Apr 18, 2016 2:49:02 PM

When to file

Read More

Topics: tax

Last Gas Station for 90 Miles

Posted by Zinner & Co. Tax Team on Mar 28, 2016 5:29:53 PM

The Last Chance to Take Advantage of “File and Suspend” is Fast Approaching!

Read More

Topics: Taxes - Individual, tax

IRS Suspends IP PIN Service for Identity Theft Victims

Posted by Zinner & Co. on Mar 10, 2016 1:47:50 PM

As posted in Accounting Today
March 8, 2016 by Michael Cohn

Read More

Topics: identity theft, fraud, tax services, tax

CATEGORIES

Latest Posts

Learn why Zinner & Co. loves Cleveland

Subscribe to Our Blog