Category: LLC

SBRN Lunch With the Experts: Change in Venue!

Posted on by Lorrie Reid
SBRN Lunch with the Experts:
Web Marketing Trends for 2017 and Optimizing for Mobile Device
The Florida SBDC Network assists thousands of new and growing businesses by providing services to help them successful in their decisions. They will be hosting a no-cost training session to help you better plan for the ever growing virtual trends this year.
Effective marketing for your business can make all the difference in its success. Learn from the experts how to expand your customer base with new trends and strategies!

When?
Wednesday, April 26, 2017

What time?
11:30AM to 1:00 PM

Where? (CHANGE FROM ORIGINAL LOCATION)
1250 North Hancock Road Clermont FL, 34711
Building 2, Room 102 & 103

How do I sign up?
This event is free but registration is required and seats are filling up fast! Visit the registration page to secure our seat to this event.
For information on this, and future events of the SBRN, see the flyer we have included below.

“NEW” IRS Collection Tactic

Posted on by Lorrie Reid

The IRS has sent us an interesting article that will affect many tax payers, we wanted to share this with you before the end of tax season.

Starting this month, the IRS will be using four private-sector collection agencies (PCA) to collect unpaid tax debts on the government’s behalf. This is authorized under a federal law that was enacted by congress in December of 2015. These are tax debts that are not currently being worked on and were assessed years ago. If a tax payer is being assigned to a private firm, there would have been multiple attempts to contact by the IRS in the past years.

  • How is this going to work?

The IRS will send an official letter to the tax payer and his or her tax representative informing them that they will be assigned to a PCA and will be given the name and contact information for the PCA. This mailing will also include a copy of Publication 4518 of what to expect.

Once your letter is sent, the designated private firm will send a letter to the tax payer with information that will assure that the transfer and all future collection calls are legitimate.

Important: The PCA are authorized to discuss payment options and payment agreements. However, all payments must be made directly to the IRS via check, or electronically. Never make a payment to a private firm or anyone besides the IRS or U.S Treasury. For more info on payment options, click here.

For a list of the agencies selected, visit this page.

  • Prepare for phone scams!

There will be scammers who jump at this opportunity to pose as PCA employees. It is important to know that these agencies will only be assigned if you owe money from previous tax years. You will be made aware about these PCAs before you hear from them.

The IRS or PCA will never:

  1. Call to demand immediate payment using a specific method such as prepaid card or wire transfer
  2. Threaten to call local police or other law-enforcement groups
  3. Demand payment without the opportunity to question or appeal the amount owed
  4. Ask for any credit or debit card numbers over the phone

You don’t need to wait for a call or letter from the IRS! It is important to always come forward and pay what you owe, or set up a payment plan. For a list of ways to take advantage of this, visit IRS.gov.Tax filing deadline is approaching soon! Business Resource Partners has an Enrolled Agent on staff who will directly represent you to the IRS if ever needed. We would be happy to prepare and file your business and personal taxes! Give us a call to set up an appointment (321) 236-2771 or visit us at 310 Almond Street Clermont, FL 3711.

Need More Time to Pay Your Taxes?

Posted on by Lorrie Reid
Your taxes should always be filed on time regardless of whether or not you can pay what you owe. This prevents you from having to pay a penalty.
If you cannot pay your taxes in full by the April 18th deadline, here are four things you should know according to the IRS.
  1. File on time & pay as much as possible:

You have the option of paying online, by phone, or with the IRS2Go App. Visit this page for electronic payment options.

  1. Get Loan or use a credit card to pay the tax:

The interest and penalties by the IRS for failure to pay are higher than the interest rates of a bank or credit card company. For your credit card options, click here.

  1. Use Online Payment Agreement Tool:

Get ahead! Plan for your payments using the IRS Online Payment Agreement Tool. You may also file Form 9465 which is the Installment Agreement Request with your tax return. This allows you to set up a direct debit agreement and not have to worry about sending a check each month.

  1. Don’t Ignore a Tax Bill:

The IRS may take collection action when you ignore a tax bill. The best option is to call the number on the bill and talk about payment options.

Beginning in 2017, all taxpayers using a software product for the first time may need their Adjusted Gross Income (AGI) from their prior year’s tax return to verify identity. To learn how to verify identity and electronically signing your return, visit this page.

For all your present and future tax needs, Business Resource Partners is more than happy to provide you with tax preparation and filing.  Our Enrolled Agent will directly represent you to the IRS if ever needed. Our office also offers Payroll Services, HR, Virtual office space, and more! Call us to set up your appointment at (321) 236-2771, or visit us at 310 Almond Street Clermont FL 34711.

Is Your Personal Information REALLY Protected?

Posted on by Lorrie Reid
Protecting your personal information such as social security number and finances is always important any time of year, but most importantly during tax time.
We found an article published on the IRS.gov website about protection specific to computers and we wanted to share some key facts.
The IRS says to treat your personal information like cash, don’t hand it out to just anyone. Much of your information can be taken and used to steal your identity and open new accounts. Be wary of websites or people asking for personal information claiming that it is necessary, many scammers will attempt just about anything to get this information from you.
What practical steps can you take to protect yourself better?
  1. Avoid Phishing Scams:
Scammers can pose as banks, credit card companies, IRS, or third party working for governing authorities. Different methods can be used to get your attention such as winning something, urgent personal information update requirements. Never open an attachment or link of a suspicious e-mail. These oftentimes contain malware and can harm or hack your computer and information.
  1. Protect Personal Data:
Do not carry your social security card with you or anything that may include this number. Do not include this number when filling out forms on paper or online. Scammers will ask you to include this number in documents even when it is not needed.
  1. Use Strong Passwords:
When creating or updating passwords to your online data, always use 10-12 characters. Try not to use common information such as important dates or names. Be as unpredictable as possible! Don’t use the same password for multiple accounts and never send these through text or email. Always use a secure Wi-Fi network to prevent other networks from accessing your information.
  1. Use Security Software:
Always have security software installed on your computer. Most come with a pre-installed firewall, but it is important to have one that protects from viruses, Trojans, spyware and adware. Parents, use the parental control options and educate children about suspicious websites and emails.
  1. Back Up Files:
It is important to always save important documents such as tax returns, finances, etc into a removable USB as a back up. Have paper copies to help in the next year’s tax preparation and always keep track of where these are stored and who has access to them.
Business Resource Partners will help with your tax needs including preparation and e-filing. Time is almost out for tax filing! Give us a call or stop by our office to meet with one of our tax prep experts!

$1 Billion Available!

Posted on by Lorrie Reid

The IRS has unclaimed federal income tax refunds totaling more than $1 Billion for roughly 1 million taxpayers who did not file a 2013 income tax return.

If you or someone you know did not file for taxes in 2013, you may be afraid to do so now for fear that you’ll be penalized or in legal trouble. Did you know there is no penalty for filing late if you are due a refund? You can still file a 2013 tax return with the IRS no later than this year’s Tuesday, April 18th deadline. There are an estimated 66,900 individuals who may be due 2013 refunds in Florida, totaling about $67,758.

The law usually provides most tax payers with a three-year window of opportunity for claiming a refund. The unclaimed money becomes property of the U.S Treasury if the tax payer does not file a return within the three years. If you are filing a 2013 tax return this year, make sure you properly address mail and postmark the tax return by the April 18th date.

If you have not filed taxes for 2014 & 2015, your check for your 2013 refund may be held. The refund will be allocated to any debts such as a state tax agency, money owed to the IRS, child support, or student loans.

You could lose more than just a refund for the year of 2013 if you do not file your taxes. Low or moderate income workers may be eligible for Earned Income Tax Credit (EITC). In 2013, this credit was worth as much as $6,044.

If you have questions about how to get forms for prior year’s tax returns, visit the Forms and Publications page on the IRS website. These forms are available to you at no charge.

If you are missing any forms such as W-2, 1098, 1099, or 5498 for the years 2013-2015, you should contact your employer, bank, or other payer. If you are unable to get these forms from a previous employer, you can use the IRS’s tool for Getting Your Transcript Online and obtain your Wage & Income Transcript. You may also file Form 4506-T to request a transcript of your 2013 income and use the information to file your tax return

If you need to file your 2013 or later tax returns, Business Resource Partners will gladly provide this service for you! Please call our office and schedule your appointment with our tax professionals at (321) 236-2771 or visit us at 310 Almond Street Clermont, FL 34711.