Client Alerts Archives - Page 19 of 21

CLIENT ALERT: RITA Data Security Incident Could Affect 50,000 Taxpayers

Kathleen Hargrove on January 6, 2016

The Regional Income Tax Agency of Ohio (RITA) has revealed that personal information for approximately 50,000 individuals may be at risk following a data security incident.

According to RITA, a backup DVD is missing that may have contained names, addresses, Social Security numbers, Dates of Birth and other personal information for 50,000 taxpayers who submitted income tax documents to RITA on or before June 2012.

As a precaution, RITA will provide written notice to taxpayers whose information may have been on the DVD, and provide those affected with one year of free credit monitoring and identity protection.

The agency has indicated it has instituted a more secure backup procedure that does not require DVDs.

If you have questions, please contact your Whalen & Company representative.

More Information:

Press Release on Incident from RITA

CLIENT ALERT: IRS Releases Reduced Mileage Rates for 2016

Kathleen Hargrove on December 22, 2015

The IRS has released the optional standard mileage rates for 2016, and taxpayers will see reduced mileage rates for calculating deductions related to automobile use for business, medical or moving purposes.

CLIENT ALERT: Tax Extenders Legislation Signed Into Law

Kathleen Hargrove on December 21, 2015

Tax extenders legislation was signed into law on Dec. 18 as part of H.R. 2029.

CLIENT ALERT: Update on Tax Extenders Legislation

Kathleen Hargrove on December 18, 2015

On Tuesday, Dec. 17, the U.S. House of Representatives approved tax extenders legislation in a vote of 318 to 109; now the bill is headed to the senate.

CLIENT ALERT: Proposed Tax Extender Bill Includes Section 179 Deduction, Bonus Depreciation

Kathleen Hargrove on December 9, 2015

Earlier this week, U.S. House Ways and Means Committee Chairman, Congressman Kevin Brady, proposed legislation to renew numerous tax provisions for 2015 and 2016. The proposed bill includes maintaining tax provisions for Section 179 Deduction expensing and accelerated depreciation (bonus depreciation). The full list of tax provisions included in the bill can be seen here.

Congressman Brady is reported as saying that this bill is intended as a backup to extend tax provisions in the event that a larger deal cannot be brokered in congress.

The legislation is currently being considered by congress; Whalen & Company, CPAs will notify our clients as this bill progresses.