Monthly Archives: March 2016

IRS Again Extends Basis Reporting Deadline by Jeffrey M. Mutnik, CPA/PFS

Posted on March 28, 2016 by Jeffrey Mutnik

For the second time since July 2015, the IRS has extended the deadline for estates to meet a 30-day consistent basis and reporting requirement. Effective immediately, executors and some beneficiaries of estates will have until June 30, 2016, to report to the IRS, and to any persons inheriting interest from a decedent, the value of […]

Be Vigilant, Protect Yourself from Rampant Identity Theft by Stefan Pastor

Posted on March 28, 2016 by Richard Berkowitz

  Identity theft is a serious threat to consumers throughout the year. During tax season, however, the incidence of identity-related fraud increases as scammers find new ways to access consumers’ personal data or trick them into divulging this information in order to intercept tax refunds.   While the IRS advises taxpayers to file their returns […]

Upcoming Tax Deadlines for Individuals and Businesses March to June 2016

Posted on March 21, 2016 by Richard Berkowitz

March 31:                    Deadline for electronic filing of Form 1099 with the IRS and Form W-2 with the Social Security Administration   March 31:                    Deadline for large employers to furnish to their full-time employees IRS Forms 1095-B, Health Coverage, and 1095-C, Employer-Provided Health Insurance Offer and Coverage, detailing health care coverage provided to employees in 2015   April 1:                         […]

IRS Suspends IP PIN Service by Joseph L. Saka, CPA/PFS

Posted on March 21, 2016 by Joseph Saka

The IRS has temporarily suspended access to its Identity Protection Personal Identification Number (IP PIN) online tool following a data breach on the very service intended to protect taxpayers from identity theft.   The IRS established the IP PIN program to help reduce the incidence of tax-return fraud by issuing to eligible taxpayers a six-digit […]

How Real Estate Businesses May Be Missing Opportunities When Applying Tangible Property Regulations by John G. Ebenger, CPA

Posted on March 16, 2016 by John Ebenger

Individuals and businesses that own or rent tangible property may be missing out on significant tax-savings opportunities when they or their advisors fail to understand and apply the often-confusing provisions contained in the Repair Regulations.   More formally known as the Tangible Property Regulations, these rules are intended to simplify how and when taxpayers should account […]

Employers with 50 to 100 Employees Face March 31 ACA Reporting Deadlines by Adam Cohen, CPA

Posted on March 15, 2016 by Adam Cohen

Businesses and non-profit organizations with 50 to 100 full-time equivalent employees who did not offer their workers minimal essential health care coverage in 2015 can qualify for a one-year exemption from the employer shared responsibility provision of the Affordable Care Act. However, these employers are still required to comply with the information requirements of the […]