Profit Statements: The P&R Blog
Updated Employer Guide to Form I-9: Pay Heed (Not Uncle Sam!)
With the current political atmosphere, businesses must keep up with the latest legislation, especially payroll accounting regulations most relevant to you as an employer. Don’t let the seemingly simple Form I-9 fool you—it carries some of the strictest guidelines. Given the increasing inspections by Immigration and Customs Enforcement (ICE), use the following guide as a …read more.
Did You Use The Extension? Know The Rules
You may think that tax season is finally over. For many, it isn’t. In fact, for a growing number of taxpayers who filed for individual income tax return extensions, tax season is just beginning. For Patrick & Robinson CPAs, we’ve seen a consistent trend, and now almost half our clients will file their tax returns …read more.
Most IRS Regulations Exempt from President’s “2-for-1” Executive Order
President Trump recently signed an Executive Order (EO) aimed at reducing regulation. One of the main provisions of this EO requires two existing regulations be cut in exchange for every new regulation introduced. Interim guidance on implementing this “2-for-1” rule appears to limit its power to “significant” regulatory actions, a category not inclusive of most …read more.
Report Card on our President’s First Hundred Days
Tax reforms won’t likely be enacted in President Trump’s first 100 days in office. Per interviews with CNBC and Fox Business News, U.S. Treasury Secretary Steven Mnuchin expects a new tax law to be signed during the dog days of summer. “We want to get this done by the August recess. We’ve been working closely …read more.
Changing Your Name May Delay Your Tax Refund
If you, or someone listed on your income tax return, undertook a name change last year, your tax refund may be impacted. If the records at the Social Security Administration (SSA) don’t match the names listed on your tax return, your refund could be delayed. Here are some points to note: If you changed your …read more.