Author - SFS Tax & Accounting

top 5 myths about tax refunds

Don’t Fall for These 5 Tax Refund Myths

It's tax time again! It's that time of year when those expecting a tax refund watch their bank accounts like a hawk or check their mailbox, waiting and wondering when that refund will arrive. If you are due a refund, it's natural to want to know when you'll get it. Every year though, myths about tax refunds abound, causing confusion and needless worry. Thanks to social media, texts, and instant messaging, these untruths spread faster and farther than ever before. So let's dispel...

February 19, 2018Read more...
Keep an eye out for the new W-2. There are many people phishing in fraudulent waters trying to bait you.

Keep an eye out for the new W-2 Phishing Scam.

There are many people phishing in fraudulent waters trying to bait you. Business owners the W-2 scam has reared its ugly head once again! The Form W-2 phishing scam that victimized countless businesses and employees last year evolved and also targets schools, restaurants, hospitals, tribal groups, and nonprofits. There are many people phishing in fraudulent waters trying to bait you. The IRS says the Form W-2 scam has emerged as one of the most dangerous phishing emails in the tax community....

February 6, 2018Read more...
Jeffrey Schneider, EA, CTRS, NTPIF

This week it’s all about, me, Your Tax Professional

This week it’s All About, Me, Jeffrey Schneider, EA, CTRS, Your Tax Professional! I recently had the distinct honor of being selected to serve on the Internal Revenue Service Advisory Council. The committee provides an organized public forum for IRS officials and representatives of the public to discuss relevant tax administration issues. IRSAC is a group of like-minded individuals, Enrolled Agents, CPAs, attorneys and folks from tax departments in other industries. I was appointed to serve on the Office of...

January 25, 2018Read more...
Jeffrey Schneider, EA, CTRS, NTPIF

Tax Cuts and Jobs Act of 2017 and What You Need to Know

Yep, it's Monday and not Thursday but last week was a busy one and I wanted to share this information about the Tax Cuts and Jobs Act of 2017 and What You Need to Know with you today. What do I do when I am not in the office? A week ago, I was a presenter for the Florida Society of Enrolled Agents’ Annual January Education Events in Deerfield Beach and Lakeland. I was in the office for 1½ days in between. I serve...

January 23, 2018Read more...
Don't Knock Yourself Out! Get help from SFS Tax

Don’t knock yourself out!

Don't Knock Yourself Out! Get help from SFS Tax. In my last letter to you, my fellow Green Thumbers, I mentioned that Ali and I did a lot of gardening for the fall. What I did not say was that I gave myself a concussion by knocking my head against a tree limb...twice!! Not sure what level of concussion it is, but all I can say is OUCH! Constant headaches, nausea, dizziness the whole gambit. The only thing that I...

November 2, 2017Read more...

Post Halloween Scammers

Post Halloween Scammers Now that Halloween is over and the ghost and goblins costumes have gone back into storage, you need to remember that scammers aren’t done with the impersonations and they keep this up all year round. You can avoid falling for scams by being aware of how and when the IRS contacts taxpayers. Here are eight things you need to know about in-person contact with the IRS employee: The IRS initiates most contacts through regular mail delivered by the United...

November 2, 2017Read more...
Everything You Need to Know… Hurricane Relief - Image of hurricane

Everything You Need to Know… Hurricane Harvey and Irma Relief

Everything You Need to Know… Hurricane Harvey and Irma Relief As our communities work to recover from Hurricanes Harvey and Irma, SFS Tax & Accounting Services shares the tax relief measures announced by the Internal Revenue Service (IRS) in response to the disaster. (Maria affects Puerto Rico, only) We hope this article will shed light on several tax relief measures announced by the Internal Revenue Service (IRS) in response to the disaster. After these events, the IRS issued public releases related...

September 24, 2017Read more...

IRS Offers Tax Filing Relief to Hurricane Irma Victims in Florida

IRS Offers Tax Filing Relief to Hurricane Irma Victims in Florida. SFS Tax & Accounting Services Helps Florida Affected Taxpayers. The Internal Revenue Service announced that Hurricane Irma victims in parts of Florida and other areas have until Jan. 31, 2018, to file some individual and business tax returns and make certain tax payments. The Florida counties noted as getting this relief are Broward, Charlotte, Clay, Collier, Duval, Flagler, Hillsborough, Lee, Manatee, Miami-Dade, Monroe, Palm Beach, Pinellas, Putnam, Sarasota, St. John's and...

September 13, 2017Read more...

Beware of Fake Charity Scams Relating to Hurricanes

Beware of Fake Charity Scams Relating to Hurricanes The Internal Revenue Service issued a warning about possible fake charity scams emerging due to Hurricane Harvey and encouraged taxpayers to seek out recognized charitable groups for their donations. While there has been an enormous wave of support across the country for the victims of Hurricane Harvey, and with the preparations for the incoming Hurricane Irma, people should be aware of criminals who look to take advantage of this generosity by impersonating charities to...

September 1, 2017Read more...

Learn about Tax Benefits for Education

Learn about Tax Benefits for Education The beginning of the school year is a good time for a reminder of the tax benefits for education. These benefits can help offset qualifying education costs. Here is information about two tax credits available to those who pay higher education costs for themselves, a spouse or a dependent. The American Opportunity Tax Credit (AOTC) is: Worth a maximum benefit up to $2,500 per eligible student. Only available for the first four years at an eligible educational or vocational...

September 1, 2017Read more...