Blog posts from: 2015
IRS gives employers extension on filing for Work Opportunity Tax Credit
The Internal Revenue Service is giving employers extra time beyond the 28-day deadline for submitting a form to claim the Work Opportunity Tax Credit after the WOTC was extended late last year by Congress. Notice 2015-13 provides guidance on Section 119...
Required minimum distribution deadline for seniors
The Internal Revenue Service is reminding taxpayers who turned 70-1/2 during 2014 that they most likely need to start taking required minimum distributions from their IRAs and other retirement plans by April 1. The April 1 deadline applies to owners...
SR Client Question: Can I avoid paying taxes on the sale of my primary residence?
A person selling his or her primary residence can, if certain conditions are met, avoid paying tax on some or all of the gain realized. This is allowed per code section 121 of the Internal Revenue Code. A maximum gain...
SR In the News: ShindelRock makes Crains’ 2015 List of Largest Accounting Firms
We're happy to be recognized again in Crains' Detroit Business this week as one of the largest accounting firms in Metro Detroit!
AICPA Legacy Scholarship application now available
The AICPA announced on Tuesday that the AICPA Legacy Scholarship application is now available on ThisWayToCPA.com for the 2015-2016 academic year. The new application process allows students to fill out a single application for all four AICPA Legacy Scholarship awards. The Legacy Scholars Program...
URGENT: IRS letter to confirm your identity is authentic
Taxpayers are suspicious of any "official-looking" IRS communications these days due to the prevalence of tax-related phishing and scam attempts, but if you get a letter from the IRS this tax season asking you to verify you identity, it's probably...
Watch for ShindelRock’s Monica Silwanowicz on WDIV Channel 4 Monday morning!
Our Monica Silwanowicz will field tax-related phone calls on WDIV Channel 4 this Monday, March 23rd from 5am – 7am. Be sure to tune in and catch Monica sharing her expertise with WDIV viewers!
SCAM ALERT: IRS Warns Tax Preparers are Scamming Taxpayers on Obamacare Payments
The Internal Revenue Service issued a consumer alert Friday warning taxpayers to beware of tax preparers who tell clients to give them their health insurance payments. According to the IRS alert, “reports are coming in from around the country describing...
Tips on managing the Net Investment Income Tax
2014 marks the second year that many high-income clients will be hit with the 3.8 percent investment income surtax that's part of the Affordable Care Act. The surtax on investment income applies to taxpayers with modified adjusted income above $250,000...
CPA vs. TurboTax: The value of an inquisitive mind
It's tax season, which means millions of Americans are evaluating their tax return preparation options and deciding which strategy is best for their individual scenario. For many, selecting a tax preparation software service like TurboTax might seem like the best option....