IRS Lays Down The Law With Its Dirty Dozen Tax Scams

IRS Lays Down The Law With Its Dirty Dozen Tax Scams

The following alert is republished from an IRS webpage that can be found here. Taxpayers need to watch out for identity theft especially around tax time. The IRS continues to aggressively pursue the criminals that file fraudulent returns using someone else’s Social Security number. Though the agency is making progress… Continue Reading..
Tax Time Checklist by Judith Heft

Tax Time Checklist

New Tax Alert: In an effort to combat the growing problem of tax fraud, the IRS has updated its rules for payroll tax filing. Instead of February 28,  W2s and 1099s needed to be filed by January 31, 2017. If you have not already done so, drop everything and see… Continue Reading..

The Large, Clearly Defined Line Between Employee and Contractor

A worker is considered a contractor only if they have their own business. An example of a subcontractor is when someone contracted by the business performs work for it. The Department of Labor and the IRS have begun a renewed effort to put an end to what they call decades of abuse… Continue Reading..

Tax Fraud, Identity Theft and the IRS

Tax Fraud Alert: Recently reports have begun to trickle in about taxpayers receiving IRS Letter 5071C. Letter 5071C is a standard letter issued by the IRS when it needs taxpayers to confirm personal information. If you receive Letter 5071C, there will be contact information for the agency’s new Identity Verification… Continue Reading..

How To Be Prepared For Your Tax Preparer

Soon you will have the information you need to file your taxes, it’s time to be proactive and get things done! Showing up at your accountant’s office on April 14th with a shoebox full of receipts is not going to do you any favors - in fact, it could cost you… Continue Reading..

Start Your Taxes Now And Be Done In January

The days are getting shorter as your accountant savors the last few months of peace before the End-of-Year rush revs into gear. You like your accountant, why not make his or her job easier? I’ve put together a list of some of the things you should be thinking about before… Continue Reading..

Getting Your Documents Together at the End of the Year

End of year preparations are in full swing at Judith Heft & Associates, and today I’d like to share some of the best practices we have developed over the past 18 years. We start with three folders for each client: Anything that’s going to be on a client’s income tax… Continue Reading..
Judith Heft - It's a Taxing Time for Everyone

It’s a Taxing Time for Everyone

It’s March, which means your accountant is ready for your tax paperwork. Here is a guide to what you’ll need: W-2’s - Wages and tax statements 1099’s - Taxable income, interest dividends and self-employed income Schedule K-1’s - Income or loss from a partnership or an S-corporation 1098’s - Mortgage… Continue Reading..