New Form 990 Changes
Tue, 01/31/2012 - 11:12 | by David BeidlerThe IRS posted the final 2011 Form 990, Return of Organization Exempt From Income Tax, and instructions on its website. Form 990 has become more and more complex as the role of nonprofit organizations has evolved in the United States. The latest version of the form contains a few significant changes, among them the requirement that an organization must complete Form 990, Part I of Schedule F, Statement of Activities Outside the United States, if it had foreign investments during the tax year valued at $100,000 or more.
Keystone Collections Group 2009 Letters
Wed, 01/18/2012 - 11:06 | by Bob Parks CPARecently, Keystone Collections Group, the bureau that took over the local tax collection services for the Lebanon County Earned Income Tax Bureau and several other local tax agencies has been mailing statements to taxpayers stating that additional taxes are due for tax year 2009. The agency has collected information from the Pennsylvania Department of Revenue for every taxpayer’s individual 2009 tax return. They are then cross-matching the PA income with the income reported on the taxpayer’s 2009 Local Earned Income Tax Return.
2012 Mileage Rates Announced
Tue, 12/13/2011 - 12:08 | by Brent A. Hoffman CPAIRS released the 2012 mileage rates as follows:
Business rate - 55.5 cents per mile
Medical or moving - 23 cents per mile
Charitable - 14 cents per miles
Employee Wage Compliance
Fri, 12/02/2011 - 14:22 | by Sandy SoderstedtYear end is a good time to review employee wage compliance.
The Fair Labor Standards Act (FLSA) which is regulated under the Department of Labor (DOL) establishes minimum wage, overtime pay, recordkeeping, and youth employment standards. Employers should take the time to review those policies to ensure full compliance with FLSA. Anything short of full compliance places employers at risk of lawsuits and fines. Here is a short summary of those guidelines.
IRS Extends Deadline in 27 Counties
Wed, 09/14/2011 - 09:58 | by Brent A. Hoffman CPAAs a result of Hurricane Irene and Tropical Storm Lee IRS has postponed deadlines for Pennsylvania taxpayers who reside or have a business in a federal disaster area until Oct. 31, 2011. This includes corporations and other businesses that previously obtained an extension until Sept. 15 to file their 2010 returns.
