How to Protect Yourself From the Latest Tax Scam
From IRS.gov
Return Preparer Fraud Is on the IRS Annual “Dirty Dozen” List of Tax Scams to Avoid During the 2016 Filing Season
WASHINGTON — The Internal Revenue Service today warned taxpayers to be on the lookout for unscrupulous return preparers, one of the most common “Dirty Dozen” tax scams seen during tax season. read more…
IRS Suspends IP PIN Service for Identity Theft Victims
As posted in Accounting Today
March 8, 2016 by Michael Cohn
“Kiddie Tax” impacted by Tax Cuts and Jobs Act
Many higher income taxpayers have long made it a practice to open investment accounts for their children, hoping to take advantage of their lower tax rates. Many years ago, Congress imposed, what is colloquially known as the “kiddie tax” to place strict limits on the amount of investment income that can be taxed at those lower rates.
One of the changes made by the recently enacted Tax Cuts and Jobs Act of 2017 made some significant changes to how the “kiddie tax” is administered, impacting the way adults pass investment income on to their minor children.
The “kiddie tax” is a provision that taxes the unearned income of children under the age of 19 and of full-time students younger than 24 at a special rate. Under both the new law and the old, the first $1,050 of a child’s income is tax-free and the next $1,050 is taxed at a rate of 10 percent.
Tax Return Planning Guide: Download Your Free Ebook
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It’s that time of year again when most are thinking about filling out their tax return. Many are sifting through shoeboxes full of receipts, others, wondering if they have a receipt. |
What I’m Reading This Summer – Passive Activity Losses and the Material Participation Tests
In my youth, I was fascinated by all things weird and wonderful. The natural wonders of the world, such as the Grand Canyon or Aurora Borealis, were impressive for their scale and beauty. However, the man-made wonders were impressive not only for their scale and beauty but also for the fact that they sprung from the minds of men and made real through years of hard work. 
I was in awe and fueled my interests through the joy of reading. I always held a love for books and looked forward to trips to the local library, so I could find an armful of books that I could read and fill my book log during the annual summer reading program.
Last-Minute Tips for Filing Your Taxes
Don’t panic if you haven’t filed your income tax yet. There’s no time like the present to prepare and file your 2015 tax return.
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Top 10 Tax Tips about Debt Cancellation You Need to Know
So, you are feeling pretty good about that lingering debt that has finally been stamped “paid in full.” 
Maybe you have refinanced, modified a loan or emptied the piggy bank to clear last year’s credit card frenzy that left you with a bothersome monthly payment, accruing fees and a high interest rate. But, is it all that simple? Will debt cancellation bu ok “as is” or are there other considerations to factor?
As recommended and published by the IRS, below, find a few of most common situations that you should be aware of surrounding debt cancellation and income.
Since 1938, Zinner has counseled individuals and businesses from start-up to succession. At Zinner, we strive to ensure we understand your business and recognize threats that could impact your financial situation.
Getting Older Still Has Its Tax Benefits
Bonus Senior Deduction Beginning with the 2025 tax year, seniors age 65 and older are eligible for a new tax break designed to provide meaningful relief at filing time. The new Bonus Senior Deduction, available through at least 2028, is aimed at helping...
Stay Safe While Shopping Online This Holiday Season
The holiday season is a time for joy, giving, and finding the perfect gifts for friends and family. Online shopping makes this easier than ever, but it also brings risks like scams, fraud, and cyber threats. To help you shop with confidence, here are 10 essential tips...
Employee Leave Donation
You may have heard the terms “donated leave” or “leave sharing” being used within the business community over the past few years. This has been something that various companies have adopted to help boost morale, promote compassion, and support their employees....
ODJFS adds new technology and customer service fee
In a letter dated Nov. 7, Ohio Department of Job and Family Services Director Matt Damschroder explained a new fee that employers will be charged on their quarterly unemployment insurance tax rate. Included within Ohio’s recently passed biennial budget (House Bill 96)...
What Does the Government Shutdown mean as Oct. 15 approaches?
Extended Filing Due Date Approaches for 2024 Individual Income and Gift Tax Returns As the Oct. 15, extension deadline looms for filing 2024 individual income and gift tax returns, what does the federal government shutdown mean for Internal Revenue Service employees...
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