So the fake IRS telephone threat scam has been working so well the scammers didn’t stop when tax season is over (it is apparently still profitable to run this out of season.) See this article in USAToday by Herb Weisbaum, a CNBC contributor, for more details: http://www.usatoday.com/story/money/business/2014/06/15/cnbc-tax-scams-irs/10438269/ Just remember that usually the only time the IRS will call you is if you are being audited and they want to schedule an appointment. They NEVER ask for money over the phone (you will get a letter requesting payment with a reasonable time to pay it.) and ordinary no one is going to take you to jail over income tax ‘errors’ – they usually just want the additional money due (kind of like the scammers.) For financial, accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net Phone: 818-317-6035 Website: www.briantstonercpa.com Android and the IPhone: Has been Featured On https://twitter.com/bstonercpa
Tax Musings of a Burbank CPA: Get Credit for Child and Dependent Care This Summer
If you are sending your kids to either daycare of summer camp, you may qualify for the tax credit for child and dependent care. The IRS had brought out a tip talking about qualifications for this credit – see the link below for the tip sheet from them: http://content.govdelivery.com/accounts/USIRS/bulletins/bd35e8?reqfrom=share Just remember that you had to file married joint or head of household to qualify for the credit (you may also qualify if you and your spouse lived apart .) Remember the max costs is $3,000 for one child or $6,000 for two or more and you have to get the provider’s federal idenitification or social security number as well as address and (sometimes) their telephone number. For financial, accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net Phone: 818-317-6035 Website: www.briantstonercpa.com Android and the IPhone: Has been Featured On https://twitter.com/bstonercpa
Burbank CPA Tax Musings: Tips for Safeguarding Tax Records
Here are some more tips for safeguarding your tax records (whether you keep the recommended minimum five years worth or farther back.) See this article in AccountingToday by Jeff Stimpson for more details: http://www.accountingtoday.com/news/irs_watch/tips-for-safeguarding-tax-records-70916-1.html A lot of tax professionals also recommend that you keep many more tax return copies than the records (I always recommend you keep at least 10 years of your actual returns – with pdfs and the cloud this is a lot easier than it used to be.) Since most tax professionals keep five to seven years of the returns they prepare (no set amount here, usually company policy) having a few extra years doesn’t hurt if you need them for some form or document. For financial, accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net Phone: 818-317-6035 Website: www.briantstonercpa.com Android and the IPhone: Has been Featured On https://twitter.com/bstonercpa