News & Articles

Delay in ACA Employer Mandate: Opportunity to Regroup

Posted on Mon, Jul 15, 2013

The Obama Administration's announcement on July 2 that it is pushing back the "pay-or-play" deadline by one year has already been scrutinized for possible political motives. Politics aside, employers need to know what they are required to do and when. How does the new 2015 deadline affect your organization?

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Tags: Affordable Care Act (ACA), Law, business consulting, CPA Firm, Echelbarger, EHTC

Relief Options for Spotlight Worker Classification Issues

Posted on Tue, Jul 02, 2013

The June 30th deadline has passed for employers to take advantage of the Internal Revenue Service's temporary Voluntary Classification Settlement Program (VCSP). This was a more generous version of the permanent VCSP, addressing the voluntary reclassification of independent contractors as employees. The article below talks about issues surrounding worker classification, and provides information for employers who need the program, but missed the deadline.

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Tags: Voluntary Classification Settlement Program (VCSP), Relief Options for Worker Classification Issues, Law, IRS, business consulting, CPA Firm, Echelbarger, EHTC

Deadline Coming Up to Report Foreign Account Holdings

Posted on Mon, May 20, 2013

The IRS is continuing its efforts to find taxpayers who don't report accounts they hold in foreign financial institutions. The deadline for filing an IRS form (if you meet certain requirements) is coming up on June 30, 2013. Failing to comply can result in penalties under the Bank Secrecy Act. Here are the details, along with a new IRS announcement that the U.S. is now sharing tax information with Australia and the U.K. to help fight offshore tax evasion.

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Tags: Foreign Account Holdings, Bank Secrecy Act, Law, business consulting, Articles, Echelbarger, EHTC, Tax Deadline

Federal Benefit Payments Require Direct Deposit for Retirees

Posted on Mon, Feb 25, 2013

Beginning March 1, 2013, retirees receiving Social Security payments and other beneficiaries of federal benefit plans are required to begin receiving payments electronically. That means they will have to receive their benefits via direct deposit to a bank or credit union account or on a debit card. This article explains the new requirement, along with ten facts about Social Security that you might not know.

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Tags: Retirees, Individual Income Tax, Law, Financial Management, Consumer Alert, Articles, Retirement Planning

'Taxmageddon:' Prepare to Potentially Pay More on Investment Income

Posted on Tue, Jul 31, 2012

On January 1, 2013, an array of tax increases will kick in and leave Americans with significantly larger tax bills - unless Congress acts. Increases are scheduled on capital gains, dividends and the tax rates on wages. That's not all. More people will be liable for the estate tax, the alternative minimum tax and the marriage penalty. The payroll tax cut expires, which means employees will see smaller paychecks, and many other taxpayer-friendly provisions will end. The result has been dubbed "Taxmageddon." This article looks at what might happen to investment income rates and how you can prepare in the coming months.

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Tags: government consulting, Tax, Corporate Income Tax, News, Individual Income Tax, Law, Financial Management, business consulting, Articles

IRS Reminds Small Business Owners about Lucrative Tax Breaks

Posted on Tue, Jul 24, 2012

The IRS issued a reminder to small businesses about an expanded tax credit for hiring veterans and the credit for employer-provided health care coverage. Eligible employers can receive tax savings from these credits when they file their 2012 federal income tax returns. In addition, there is a program offered by the tax agency that allows businesses to reclassify their workers from independent contractors to employees in the future.

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Tags: Tax, Ron Kaley, Law, business consulting, Articles

Healthcare Tax Changes that Remain in Place

Posted on Tue, Jul 17, 2012

The massive healthcare legislation, which was upheld by the June 28th historic Supreme Court ruling, contains many tax provisions that go into effect at various times. The Supreme Court's decision will allow them to remain in place or phase in going forward. Here is a year-by-year chart of the tax and other changes, and what they might mean for you and your business.

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Tags: Tax, Healthcare, Law, Articles

The Supreme Court Adds Clarity to a Much Disputed Overtime Pay Issue

Posted on Tue, Jul 17, 2012

The U.S. Supreme Court recently put the Labor Department on the defensive, with respect to overtime pay for certain salespeople. The case may be good news for businesses. But employers still need to pay close attention to the undisputed elements of the Fair Labor Standards Act regarding overtime pay eligibility. Keep reading to learn how the Supreme Court decided this important case.

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Tags: case study, Customer Center, Law, Articles