CBM Accounting Services

02/12/2019

When Will Taxpayers Receive Their 2019 Income Tax Refund?
Many are wondering - when will I get my check? First, with all of the major changes to the tax law, the tax season got off to a rocky start, which was complicated by the government shutdown. Still, the IRS started accepting returns in the last week of January. However, as with recent years, those with the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) will have refunds delayed until at least late February, since the IRS pays special attention to these credits, which have been abused in past years. This chart shows an estimated timeline for when a taxpayer is likely to receive their refund. If a return is delayed, use the "Where's My Refund?"tool on the IRS website - Or download the IRS2Go app to check your refund status. "When Can I Expect My 2019 Income Tax Refund?"

IRS Accepted .....Check Issued
1/28/19 - 2/1/19 Fri 2/8/19
2/4/19 - 2/8/19 Fri 2/15/19
2/11/19 - 2/15/19 Fri 2/22/19
2/18/19 - 2/22/19 Fri 3/1/19
2/25/19 - 3/1/19 Fri 3/8/19
3/4/19 - 3/8/19 Fri 3/23/19
3/11/19 - 3/15/19 Fri 3/30/19
3/18/19 - 3/22/19 Fri 4/5/19
3/25/19 - 3/29/19 Fri 4/12/19
(from MICPA web site) contact me @ https://cbmaccountingservices.com for professional bookkeeping services - QuickBooks Specialists.
( 248) 245-6538

Good business decisions start with accurate and timely accounting!

02/12/2019

Wondering About Your Tax Refund?

01/31/2019

For those of you who own a business - The deadline to file your 1096 for 2018 to the IRS is today 1/31/2019. This is a change from prior years. It used to be February 28th. I also recommend that you send it certified mail so you can track it. The Post Office is not delivering mail due to the cold but the service centers are still open.

01/28/2019

IRS Won’t Penalize Confused Taxpayers Following Changes to Code
Taxpayers who miscalculated how much they’ll owe the IRS this year won’t get hit with penalties — up to a certain point. The Treasury Department said it won’t penalize individuals who underpaid their estimated taxes for 2018, as long as they paid 85 percent of what they owe through withholding or estimated quarterly payments.

04/28/2016

Do you use Background Checks to screen Applicants? If so read this!!
Using Background Checks to Screen Job Applicants?
Legal Landmines Abound!
Evan M. Chall, Attorney | April 26, 2016
While it is common for hiring employers to use criminal background checks when reviewing a job candidate’s qualifications, federal law limits the extent to which such materials may be obtained and utilized.

The Fair Credit Reporting Act (“FCRA”) requires employers to make certain disclosures and to secure express authorizations from job applicants before obtaining and using any “consumer report” related to them. (A “consumer report” includes credit reports, criminal background checks and other information related to an applicant.)

The following steps should be utilized by employers before obtaining a consumer report as part of the hiring process:

Provide a certification: The FCRA requires that the employer obtaining a consumer report certify to the reporting agency that it will comply with the FCRA requirements in making use of the report and that it will not use the consumer report in violation of any equal opportunity laws or any other laws.

Verify applicant identity: A hiring employer should require applicants to furnish proper identification to confirm their identities.

Provide required disclosure to applicant and obtain signed authorization: The employer is required to provide a clear and conspicuous disclosure in writing to the applicant in a document that consists solely of the disclosure, stating that a consumer report may be obtained for employment purposes. The disclosure must be in a “stand alone” document – it cannot be made a part of any form including the employment application – and cannot contain any additional information except for the applicant’s authorization. The authorization must be signed by the applicant to confirm that he or she authorizes the employer to obtain the consumer report.

Note too that additional disclosures and notifications are required in the event that an employer decides to take “adverse action” against an employee or prospective employee (such as termination or a demotion) as a result of information obtained in a consumer report.

Employers who do not comply with the FCRA’s requirements face the risk of lawsuits and administrative complaints. Indeed, in recent years, a number of class action lawsuits have resulted in costly settlements and verdicts against large companies.

Please contact Wright Beamer today if you need assistance with FCRA compliance.

04/05/2016

This is good info!

Tax-related identity theft occurs when stolen Social Security numbers are used to file tax returns claiming fraudulent refunds.

03/08/2016

You can make a difference!

If you want to make a positive impression on your colleagues and advance your career, consider these tips to shine in meetings.

02/11/2016

We can Help you get ready for tax season!

Get Your Company Ready for Tax Season!
CBM Accounting Services can help you get your business records reconciled & ready for tax season. We are a local full service bookkeeping firm and we provide:

* A bookkeeping/accounting practice with over 25 years of experience
* Certified QuickBooks Pro Advisor in Desktop and Online
* Computerized bookkeeping on-site or at your facility
* Access to your accounting records through a secure cloud- based server
* Set-up and group or individual training for QuickBooks Desktop and Online
* Problem resolution for QuickBooks Desktop and Online
* Payroll tax expertise - constant monitoring of tax deadlines
* Weekly, Monthly, Quarterly or Annual service available

Please call Carol at 248-245-6538 to discuss your business bookkeeping needs! *Chamber members receive 10% off the
first $1,000 of bookkeeping services for new clients.*

02/11/2016

I was very honored to have been nominated for Woman of the year by the Novi Oaks Chapter of ABWA!

02/10/2016

IRS Warns Tax Preparers About Phishing Scams

Post Date: 1/28/2016
Last Updated: 1/28/2016

Summary
Cross References
- www.irs.gov

A phishing scam is the attempt to acquire sensitive information such as usernames, passwords, credit card details, taxpayer information, etc., often for malicious reasons, by masquerading as a trustworthy entity in an electronic communication.

The IRS is warning the tax preparer community that there are numerous phishing scams currently out there that are targeting tax preparers. The IRS advises that all tax preparers run deep security scans on their computer systems before engaging in this year’s filing season.

In one phishing scam, an email is sent to a tax preparer by a potential new client wanting to know the tax preparers procedure for taking on a new client and the information the client needs to send to the tax preparer. When the tax preparer responds to the initial enquiry, the potential new client provides a link and asks the tax preparer to click on the link to look at the information and provide a price quote for tax preparation services based upon the information provided in the link. Once the tax preparer clicks on the link, malicious spyware is placed on the tax preparers computer system in an attempt to steal sensitive information stored on the tax preparers computer. Never click on an email link from an unknown source, even if the potential client appears to be legitimate, and even if the tax preparer thinks his or her virus protection software will block the spyware.

In another phishing scam, tax preparers who renew their PTIN receive what appears to be a follow up email from the IRS asking the tax preparer to click on a link to see a mes- sage in their PTIN online account at the IRS. Never click on a link provided in an email, even if it appears to be from the IRS. Go to the IRS website and logon in the same way the tax preparer renewed his or her PTIN to see any message in his or her PTIN online account.

Here are a few suggestions provided by the IRS to avoid being the victim of a phishing scam:
- Avoid suspicious phishing emails that appear to be from the IRS or other companies. Do not click on the links. Go directly to their websites instead.
- Beware of phishing scams asking you to update or verify your accounts.
- To avoid malware, don't open attachments in emails unless you know who sent it and what it contains.
- Download and install software only from websites you know and trust.
- Use security software to block pop-up ads, which can contain viruses.
- Ensure your family understands safe online and computer habits.

02/05/2016

IMPORTANT NEWS for BUSINESS!!

Taxable Wage Base News

As you may know, in the third quarter of 2015, the Taxable Wage Base (TWB) - the maximum annual wage on which an employer must pay unemployment taxes – was lowered from $9,500 to $9,000 for the 2016 calendar year for employers who were not delinquent in the payment of unemployment contributions, penalties or interest.

Next week, employers who have an outstanding balance and/or have not filed an Employer’s Quarterly Wage/Tax Report will be mailed Form UIA 6354, Notice of Continuation of $9,500 Wage Base. This form advises employers that a delinquency exists on their UIA account and therefore, they are not eligible for the taxable wage base reduction for calendar year 2016.

However, you can qualify for the reduced taxable wage base if you file all missing reports and pay delinquent taxes, penalties and interest within 14 days of the mail date on the letter.

To submit a payment, it is recommended to do so electronically, through the Michigan Web Account Manager (MIWAM) at michigan.gov/uia. If paying by check, please print your UIA employer number on your check and make payable to: State of Michigan – UIA. Include Form UIA 4101, Employers Quarterly Tax Payment Coupon which can be found online at michigan.gov/uia under Employer Forms.

If you have any questions, contact the UIA’s Office of Employer Ombudsman (OEO) at [email protected] or at 1-855-4UIAOEO (855-484-2636). TTY customers may call 1-866-0004.

Unemployment Insurance Agency - Unemployment Insurance Agency

02/01/2016

Being a good manager means so much to your employees!