Money Matters

Accounting, taxes, and more. Your financial questions answered.

New 1099 Filing Deadline for 2017

In case you missed it, the IRS has moved up the filing date for 1099s that report non-employee compensation in Box 7, such as payments to independent contractors. The reporting date to the IRS is now January 31, the same date that 1099s must be issued to all recipients. This deadline applies whether the forms are filed electronically, or on paper. ...
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Five Ways to Catch an IRS Phone Scam

Are you receiving suspicious phone calls? People claiming they are they are the IRS and demanding money? 

The IRS has listed phone scams as one of the most prevalent tax scams underway today. Taxpayers are receiving aggressive and threatening phone calls by criminals impersonating IRS agents. The callers may demand money or even promise a refund to trick you into sharing private and personal information. During filing season, there is an uptick of complaints reporting phone scammers who are threatening arrest, deportation, license revocation, and other things. 

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Top 10 Things to Know About Identity Theft

According to the Federal Trade Commision, there are over 9 million victims of Identity Theft in the US every year. It becomes a stressful challenge for businesses, organizations and government agencies, including the IRS.

In most cases of Identity theft, you may not be aware that someone has stolen your identity. Identity theft happens when someone uses your stolen Social Security Number to file a tax return claiming a fraudulent refund. Luckily, the IRS is the first to detect the the fraud after you try to file your taxes.

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