THE FAIR WAGES AND HEALTHY FAMILIES ACT Earned Paid Sick Time Employers: click here to download a pdf of the AZ Earned Paid Sick Time Poster 2017 EXEMPTIONS: The Fair Wages and Healthy Families Act (the “Act”) does not apply to any person who is employed by a parent or a sibling; any person [...]
Protect Your Computer Online The Internal Revenue Service, the states and the tax industry urge you to be safe online and remind you to take important steps to help protect yourself against identity theft. Scammers, hackers and identity thieves are looking to steal your personal information – and your money. But there are simple [...]
Medicare Update 2016 Social Security beneficiaries will not have a benefit increase in 2016. Inflation has declined over the past year, fueled primarily by a large drop in the price of gasoline during that period. This means the Social Security wage base will remain flat for 2016 (staying at $118,500). By law, if beneficiaries [...]
Disappearing “Service” at the IRS Don’t expect much in the way of service from the IRS this filing season. Budget cuts have forced the agency to pare back on services that filers have relied upon in the past. Folks who call the IRS don’t have a great chance of speaking to a person, even [...]
Tax Return Due Dates The Senate and the House passed a short-term highway funding extension that contains several important tax provisions. The bill modifies tax return due dates for several common tax returns starting for tax year 2016 (filed in 2017). Partnership tax returns are due March 15, NOT April 15 as in the [...]
Assisting Victims of Tax-Related Identity Theft Anyone - regardless of whether they are required to file a tax return or not or whether they are a minor, an adult or even deceased - can be impacted by identity theft. According to the Federal Trade Commission, 2014 marked the fifth consecutive year that tax-related identity [...]
How Much to Save for an Emergency A new tool can help you nail down how much to save in an emergency fund, based on your personal profile. At www.hellowallet.com/emergencysavings, you'll enter information including your take-home pay, regular monthly expenses, whether you rent or own your home, and your health insurance policy's annual deductible [...]
Late Filing and Late Paying Penalties April 15 was the tax day deadline for most people. If you are due a refund there is no penalty if you file a late tax return. But if you owe tax, and you failed to file and pay on time, you will usually owe interest and penalties [...]
Have you found that you made an error on your federal tax return? If so, you may need to file an amended return. Here are ten tips that can help you file. 1. Tax form to amend your return. Use Form 1040X, Amended U.S. Individual Income Tax Return, to correct your tax return. You [...]
Factors Affecting IRS Audit Risk Ever wonder why some tax returns are audited by the Internal Revenue Service while most are ignored? Short on personnel and funding, the IRS audited only 0.86% of all individual tax returns in 2014. And the 2015 audit rate will definitely fall even lower as the agency’s resources continue to [...]
