IRS Experienced Identity Theft of IP PINs
The following is an article published March 2, 2016, by Michael Cohn of Accounting Today.
read more…Not So Quick: Reducing internal fraud when using Quickbooks
As a CPA who has watched the industry change over the years, I am excited to see the continual merge of technology with accounting. As a result, there are many programs on the market to help non-CPAs help keep the books in order. One of the most popular is QuickBooks.
I have spoken with many clients who view their colleagues as very benevolent and ethical individuals. They are in business to reach the greater goals and our not-for-profit clients and their employees are passionate about their mission.
I have found that at times, their trusting nature of the noble people in their organization has caused them to lower their guard to some common fraud threats within their business or organization.
Tax Return Fraud and Identity Theft: What you need to know right now.
The Internal Revenue Service (IRS) has begun issuing Identity Protection PINs (IP PINs). The IP PIN is a unique, six-digit number that is assigned annually to victims of identity theft (whose cases have been resolved) for use when filing their federal tax return. An IP PIN helps the IRS verify a taxpayer’s identity and accept their electronic or paper tax return.
When a taxpayer has an IP PIN, it prevents someone else from filing a tax return with their social security number (SSN) as the primary or secondary taxpayer (spouse).
Congress Makes Major Changes to the Partnership Audit Rules
When Congress took up the task of adopting a federal budget, nobody expected the effect it would have on partnership taxation. In fact, though, in passing the Bipartisan Budget Act of 2015 (the Budget Act), which President Obama signed into law on November 2, 2015, two provisions were included affecting partnerships and their partners, as follows –
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Affordable Care Act (ACA) Reporting Requirements: What You Need to Know Now
Now that we have a year of the ACA under our belts, and employers are now beginning to deal with complying with the Employer Mandate, this is a good time to review the reporting requirements that are being borne by individuals and employers. While individuals have had a year to get used to their compliance requirements, employers are now entering unfamiliar territory.
read more…Notice to All Business Owners: Deducting and Capitalizing Business Expenses 3.0
There are significant changes in federal tax law that will likely affect business owners significantly.
read more…Paraprofessional Account / Staff Accountant
May 30, 2015
Zinner & Co. Estate Planning Advice in Cleveland Jewish News
Whether you are talking about tax planning, business succession planning, or estate planning, we always tell our clients there is no time like the present to start.
read more…Important Considerations for Non-Spouse Beneficiaries of Inherited IRAs
The Individual Retirement Account (IRA) rules are complex when it comes to annual contributions and timing for required minimum distributions (RMDs), let alone the differences between traditional and Roth accounts.
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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.
IRS increases 2024 contribution limits for 401(k) and IRAs
On Wednesday, the Internal Revenue Service announced it will increase the amount individuals can contribute to their 401(k) plans in 2024. In the upcoming year, the individual contribution level will rise to $23,000, from $22,500 in 2023. Furthermore, the IRS released...
IRS places a moratorium on Employee Retention Credit claims
DOJ to pursue fraud from aggressive marketing while IRS will add safeguards to prevent future abuse and protect businesses from predatory tactics On Sept. 14, the Internal Revenue Service announced an immediate moratorium through at least the end of the year on...
Hurricane Ian Casualty Loss
Many of our clients who live in the Southwest Florida region, as well as North and South Carolina, were affected by Hurricane Ian. On Oct. 5, 2022, the IRS published IR-2022-173, which allows hurricane victims in those states an extension of time to file their 2021...
Sale of Home and Capital Gains Tax
Are you thinking about selling your home but worried about the additional tax it could generate? It is possible that you could be one of the many who can sell your home while avoiding the capital gains tax. According to Internal Revenue Code §121, income shall not...
Protect yourself and your business with cyber insurance
With the increased use of digital devices, the number of cyberattacks has steadily risen. Cybercriminals are always devising new ways to gain access to private information such as social security numbers, bank account details, and credit card numbers. For this reason,...
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