Keeping Data Safe in Tax Season (and Year Round)
Tax season is in full swing, which means we are collaborating with our clients everyday. For many, the tool of choice for sharing information electronically will be e-mail. It is quick, easy and everyone has it. However, when relying on e-mail to share personal information such as Social Security numbers, financial statements and 1098 forms, individuals are putting…
Are Clergy Eligible For Public Service Loan Forgiveness
The Public Service Loan Forgiveness (PSLF) Program forgives the remaining balance on your Direct Loans after you have made 120 qualifying monthly payments under a qualifying repayment plan while working full-time for a qualifying employer. For more details click the link below: https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation/public-service#qualifying-employment
How does the IRS decide whether a taxpayer is a Minister for Tax Purposes?
The IRS considers individual facts and circumstances to decide if a taxpayer is a Minister for Tax Purposes. Court cases and practices of different denominations have influenced IRS decisions. These five questions will help determine if a person is a Minister for Tax Purposes: Is the person ordained, licensed or commissioned? Does the person administer…
When Paying the IRS, Handle Checks With Care
Always provide the reason for the payment, the form number, and tax year on the front of the check – for instance, “balance due on 2015 Form 1040” or “2016 estimated payment.” Also include your daytime telephone number and Social Security number (joint filers should enter the number shown first on their return). Writing separate…
