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Accounting Tips by Hass Associates Individual and Business Tax Preparation Tax season is officially underway (Jan. 31 - April 15) and while it may be a painful process for some, delaying it can only bring a bigger headache. John Ams, executive vice president for the National Society of Accountants (NSA) says whether you owe money or anticipate a refund, getting it done early can prove beneficial. If you are owed money, your chances of getting it faster are better when you file early. If you owe money, you will at least know how much you owe and can begin saving to pay for it, says Ams. Anyone who hopes to file an extension should remember, it is only an extension of time to file your return, not an extension of time to pay. "You have to file the extension and the money you think you are going to owe. If you substantially underpay, you get a substantial underpayment penalty," Ams says. Taxes are due on April 15, period. And yes, the IRS does charge interest. If your return is not fairly simply, you may want to consult a tax professional for help. You can spend a lot of time spinning your wheels on complex issues, Ams says. If you need tax-preparation help this coming season, you can find a qualified tax preparer in your area, on the NSA website at www.nsacct.org. Click on "Find a Professional" or call 800-966-6679. [Discover More] You can also ask friends or relatives for recommendations, but be sure to find someone with expertise that matches your own financial situation, Ams says. Any tax preparer you use should have a professional tax identification number which he or she uses upon signing your return. You may also qualify for free tax preparation assistance. Click to read
Tips to avoid tax fraud - 1 views
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Reports say tax fraud victims have lost around US$15 million to cybercriminals since 2013. Fraudsters may come in many forms: - They can pretend to be an Internal Revenue Service (IRS) agent, who tricked their victims into paying thousands of dollars each through phone calls. Call recipients were threatened to pay up or get charged. - Some often used malware such as Trojan spyware, banking Trojans or remote access tools (RTAs) to gain access to potential victims' computers or bank accounts. - And the brazen ones present themselves as IRS agents and show up in your front door. Over the years, the attackers' means may have evolved but their goal remains the same, and that is to deceive victims into giving out their personal information, including Social Security numbers, banking information and other private details. Tax-related identity theft occurs when attackers uses your stolen Social Security number to file a fraudulent tax return early in the year. You may be unaware that you are already a victim until you try to file your taxes and discover that a return has been filed using your number.
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The mobile OS-maker Cyanogen has just raised USD 80 million in its Series C funding round with backing from Twitter, Rupert Murdoch and Qualcomm, making its goal of taking Android from Google all t...
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