Tax Update: Indiana House Enrolled Act 1001

by Abbey Lakin and Marie Jett, CPA | Team Members of the Tax Services Group On May 8, 2013 Governor Mike Pence signed Indiana House Enrolled Act 1001 which included numerous Indiana tax changes. Among these changes are the reduction of the adjusted gross income tax rate for non-corporate taxpayers and the repeal of the Indiana inheritance tax.

Tax Aspects of the 2014 Budget Proposal

by Brandon Cook, CPA | Partner, Tax Services Group and Jim Wagoner, CPA | Partner, Director of Tax Services As most of you may have heard, President Obama released his 2014 federal budget proposal earlier this month. The $3.77 trillion budget covers all areas of federal government revenue and spending, but as you might suspect, corporate and personal ...

New I-9 Employment Eligibility Verification Form Must Be Used After May 7, 2013

The U.S. Citizenship and Immigration Services has released a new employment eligibility form which must be used in all employment registrations occurring on or after May 7, 2013. Please click here to get a printable copy of the new form.

What You Need to Know Now to Comply with the 2013 Health Care Reform Rules

Please join us on May 2, 2013 at Greenwalt CPAs Education Center for a 2 hour seminar which will address the actions that your organization needs to take in 2013, and what you need to be aware of going forward. The rules, costs, and options associated with the Health Care Reform act are complicated and are not well understood. Wanza Schweiger, CEBS ...

Additional Time to Claim Work Opportunity Tax Credit

By Felicia Rupp and Marie Jett, CPA | Members of the Tax Services Group The IRS released guidance last week that it is extending the time employers who want to claim the work opportunity tax credit (WOTC) have to file Form 8850: Pre-Screening Notice and Certification Request for the Work Opportunity Credit.

Beware of Bogus IRS Emails

By Felicia Rupp and Marie Jett, CPA | Members of the Tax Services Group The Internal Revenue Service is alerting taxpayers of potential scammers that may be trying to take advantage of you during this tax season. These scammers are using the IRS name and logo to make an email appear authentic in an attempt to get you to provide your personal information. ...

Updated Information on Filing Tax Returns

Just a reminder that the IRS began processing the 2012 individual income tax returns on January 30. The majority of individual filers should be able to begin filing their returns. Some individuals and a majority of businesses may have to wait until the end of February or March to file their returns. Several forms, including Form 4562, which reports ...

Join Us on February 19 to Learn About the "12 Threats that Can Sabotage Your Retirement or Your Business" Seminar

There is no question that we live in challenging times. John Keller of Greenwalt CPAs, Brian Singer of Singer Financial Group, along with estate planning attorney William Muench have partnered together to share the "12 Threats that Can Sabotage Your Retirement or Your Business." Attendees will learn "How to Disarm the Dirty Dozen in 2013". We ...

Nontaxable IRA Transfers to Eligible Charities

 by Marie Jett, CPA and Anna Stolyarenko | Members of the Tax Services Group Prior to 2012, taxpayers could take up to $100,000 of the required minimum distribution (RMD) from their IRA and, if donated directly to a charitable organization, exclude the RMD from income. In the 2012 Taxpayer Relief Act law that was just recently passed, taxpayers ...

Overview of Tax Provisions in the 2012 American Taxpayer Relief Act

by Brandon Cook, CPA | Partner, Tax Services Group and Jim Wagoner, CPA | Partner, Director of Tax Services Group The recently enacted 2012 American Taxpayer Relief Act is a sweeping tax package that includes, among many other items, permanent extension of the Bush-era tax cuts for most taxpayers, revised tax rates on ordinary and capital gain income ...