Don’t Miss Out on the Earned Income Tax Credit

Don’t Miss Out on the Earned Income Tax Credit

The Earned Income Tax Credit (EITC) is a tax benefit for working people who have low to moderate income. It provides a tax credit that is treated like tax withholding: it goes to pay an individual’s tax liability, and any excess is paid to the individual in the form...
Affordable Care Act Reporting Relief for Employers

Affordable Care Act Reporting Relief for Employers

Beginning for the 2015 tax year, Applicable Large Employers (ALEs) are required to file Forms 1095-C and 1094-C with the IRS and provide a copy of the 1095-C to each of their employees. An ALE is generally an employer with 50 or more equivalent full-time employees...
Tax Increase Prevention Act of 2014

Tax Increase Prevention Act of 2014

Dear Client: President Obama recently signed and enacted H.R. 5771 “Tax Increase Prevention Act of 2014,” which provides a one year extension on a number of tax relief provisions in the Internal Revenue Code (IRC) that had expired either at the end of 2013 or during...
Recordkeeping Tips to Keep the IRS Away

Recordkeeping Tips to Keep the IRS Away

With the ever-increasing complexity of our tax system, it is commonplace for many small businesses to make mistakes with bookkeeping and filing. One way to avoid making errors and keep the IRS away is to be aware of the most commonly encountered pitfalls. Here are...