Premiere Tax and Accounting Services- Prescott

01/07/2020

The IRS has announced that it will begin to accept e-filed business returns today, January 7th of 2020, and will begin accepting individual returns on January 27th of 2020. The dead line to file 2019 tax returns and pay any tax owed is April 15th, 2020. The IRS is also encouraging everyone to consider filing electronically and choosing direct deposit, since it is fast, accurate and the best way to get your refund as quickly as possible.

01/06/2020

2020 Standard Mileage Rates: As of 1/1/2020, standard mileage rates for cars, vans, pickups and panel trucks will be 57.5 cents per mile for business purposes, 17 cents per mile for medical or moving purposes, 14 cents per mile for charitable deduction. These rates cannot be used to claim an itemized deduction for unreimbursed employee travel expenses or for moving expenses.

12/31/2019

As of January 1st 2020, the Arizona department of revenue will be lowering the TPT thresholds from $10,000 to $5,000 for businesses required to file and pay electronically.

12/19/2019

As of January 1, 2020 a new W-4, employees withholding allowance will be required. To see who it applies to and what’s changing click on the link below!

https://quickbooks.intuit.com/learn-support/en-us/set-up-employees/what-s-changing-with-the-federal-w-4/00/370494

12/18/2019

Taxpayers who think they paid too little during 2019 can still avoid a tax-time surprise by making a quarterly tax payment. The final quarterly tax payment for 2019 is due Jan. 15th, 2020. Click on the link below to read more from the IRS!

https://content.govdelivery.com/accounts/USIRS/bulletins/2723197?reqfrom=share

12/18/2019

Did you make a donation this year? Read this article to know if it is tax deductible.

The IRS has a tool that can help taxpayers be sure that their donations are as beneficial as possible,
https://www.irs.gov/charities-non-profits/tax-exempt-organization-search on the IRS.gov is a tool that allows users to search for tax deductible charitable contributions.

What the TEOS tool does:
Provides information about the organizations federal tax status and filings.
Mobile device Friendly
Users can find out if an organization has had its tax-exempt status revoked.
Organizations are listed under the legal name on file with the IRS
And more!

Tax payers can also visit this website to see if your donation is deductible: https://www.irs.gov/help/ita/can-i-deduct-my-charitable-contributions

Search for a tax-exempt's status

12/11/2019

Below is a link for a video from the IRS with a few tips to keep your phones and computers safe.

Find out how you can protect your phone and computer. For more information, go to https://www.irs.gov/taxessecuritytogether.

12/04/2019

As of December 02, 2019 the IRS has changed Mailing Addresses for the following forms for Exempt Organization Submissions.

Effective immediately, please use the mailing addresses below for Forms 1023, 1024, 1024-A and 1028.

Regular U.S. Postal Service mail:
Internal Revenue Service
P.O. Box 12195
TE/GE Stop 31A Team 105
Covington, KY 41012-0192

Deliveries by private delivery service:
Internal Revenue Service 7940 Kentucky Drive TE/GE Stop 31A Team 105 Florence, KY 41042

If you’ve had your submission returned to you undeliverable, please resubmit using one of the above addresses.

11/26/2019

The IRS will begin to conduct Face-to-Face meetings with Noncompliant Taxpayers

The IRS has announced that agents will begin conducting face-to-face meetings with individuals and businesses with ongoing tax issues. These meetings will take place in areas with a limited number of available revenue officers due to declining IRS resources. According to the agency, the primary purpose of the meetings is to make contact with taxpayers with a previously known tax issue that wasn't resolved through the mail. Initial face-to-face contact will almost always be unannounced. The IRS cautions taxpayers that visits from revenue agents shouldn't be confused as a scam. When an agent visits a taxpayer, he or she will always provide two forms of official credentials with a serial number and a photo. Taxpayers have the right to see both of these credentials.

For more information, see www.irs.gov/newsroom/special-irs-efforts-to-focus-on-tax-compliance-education-begin .

FS-2019-15, November 2019 ― As part of a larger effort by the Internal Revenue Service to ensure fairness in the tax system, the IRS is taking steps to conduct special compliance efforts for individual and business taxpayers in various communities.

11/26/2019

Premiere Tax and Accounting would like to announce that all taxes, accounting, payroll, etc. prepared by our firm are handled inside of the USA. Our client’s information is never handed off to third parties outside of the USA for tax preparation or any other work. Many CPAs and Tax Preparers are outsourcing their workload overseas and are paying preparers below the US minimum wage. At Premiere Tax and Accounting, we are committed to protecting your financial and personal data by keeping all documents and correspondence within our offices and between our team members only. All workers have signed a confidentiality agreement that does not allow them to share any details about information heard or seen in our offices. We take pride in our professionalism, focus on your success, and keeping all information secure and confidential.

11/23/2019

Travelers have been advised to not use free or public charging outlets for any electronics as they may contain malware and viruses. Read the link below to learn more about this topic!

Scam can lock devices permanently or steal information

11/22/2019

AZDOR announces that corporations will have the option to e-file starting January 2020! Read the screenshot below for more details.