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Take Caution: Pervasive Phone Scam Affecting Thousands of Taxpayers

We would like to take a moment to warn our valued clients of a sophisticated phone scam targeting taxpayers both locally and across the country. The IRS is reporting that many individuals are receiving unsolicited phone calls from scammers claiming to be IRS representatives and demanding immediate payment for taxes owed.

IRS Offers Penalty Relief Program to Form 5500-EZ Late Filers

The IRS has a new temporary, one-year Pilot Program to help small businesses file past due retirement plan returns. The Form 5500-EZ Late Filer Program automatically waives IRS late filing penalties for past due returns, which would otherwise be $25/day (up to $15,000) plus interest.

Avoiding Spammers, Phishermen, and Hackers

Is it just me, or have the evil-doers of email gotten more clever? It used to be just those easily ignored messages from Nigeria or Viagra ads that found their way into my inbox, but lately it has gotten harder to tell the real messages from the fake ones. Learn the essential steps to avoid falling victim.

California Competes Tax Credit Could Benefit Your Business

There's a new income tax credit that California business owners, or those planning to locate in California, might want to consider. The California Competes Tax Credit is available to busineses looking to hire new employees or expand their capital improvements and invest in new property within the state. The Governer's Office of Business and Economic Development, GO-Biz, is set to allocate up to $30 million in credits for the 2013/14 fiscal year, with credits climbing to $200 million by the 2015/16 fiscal year.

Tax Implications of the President's 2015 Budget Proposal

On March 4th, 2014, President Obama released his proposed budget for the 2015 fiscal year. The proposal included numerous tax benefits for both individuals and businesses. However, there are other provisions of the proposal that reduce or eliminate other benefits or alter previously “permanent” tax credits, deductions, or deferrals.
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