IRS Debt Collection

The IRS statute of limitations is usually 3 years to audit or make an assessment. There are many exceptions from this rule that give the IRS 6 years or longer. And once an assessment is made, the IRS collection statute is normally 10 years. Incredibly, in some cases the IRS can go back 30 years! If you don't pay your income taxes and the IRS will come after you, But fail to pay PAYROLL taxes, and they can push even harder!
  
If you can't handle payroll taxes in-house, hire a payroll service!
(Forbes/RobertWood)

Contact Baldwin Accounting at 574-753-3498 for your payroll, bookkeeping, accounting or tax needs!

WROI Radio Show

Don't forget to tune in at 10:00 am on Wednesday to WROI 92.1. Barry will be discussing management issues that face businesses today. There will be a time to call in with questions and Barry will answer them at that time. The radio station can be streamed live at WROIFM.COM.

Stay Tuned!

Tune in Wednesday, June 10 to WROIFM.COM and listen to Barry and Tom discussing business management issues. This is the last topic in a series to help the business owner. The next session will be a question-and-answer time for Barry to answer YOUR questions. If you have a topic that you would like discussed, please call our office at 574-753-3498 or the radio station.

WROI Radio Show

Be sure to tune in to WROI-FM in Rochester at 92.1 to catch Barry discussing business issues with station owner Tom Bair! The program will start around 10:00 am and can be streamed live at WROIFM.COM. Topics such as Entity choice, business basics, and IRS Penalties will be discussed.

Tax Tip Tuesday - February 24, 2015

Tax Tip Tuesday - S Corporations that file late returns face a stiff fine...$195 for each month late, up to a maximum of 12 months, multiplied by the number of shareholders in the firm. So where a one-owner S company lacked reasonable cause for filing 11 months late, the Tax Court upheld the $2,145 levy. (Roshdieh, M.D. Corp., TC Summ. Op. 2013-113)

Warning From IRS Commissioner!

From AccountantsWorldDailyNews:
IRS commissioner Warns of Complicated, Possibly Delayed, Tax Season - The 2015 tax filing season  "will be one of the most complicated filing season we've ever had," IRS Commissioner John Koskinen said in a keynot address Tuesday to hundreds of attendees at the AICPA National Tax Conference in Washington.

2014 Tax Return Info

The health reform law will make filing a tax return more complex for millions of people. This will affect taxpayers AND tax preparers. You will need to use Form 8962 to reconcile the subsidies that were received in advance of taking the actual credit you are entitled to. This means you will have to have the form filled out and available to your tax preparer before you bring in your taxes. If you have questions, please call us at 574-753-3498.