The Internal Revenue Service announced today additional details about the closures planned for May 24, June 14, July 5, July 22 and Aug. 30, 2013.

Due to the current budget situation, including the sequester, all IRS operations will be closed on those days. This means that all IRS offices, including all toll-free hotlines, the Taxpayer Advocate Service and the agency’s nearly 400 taxpayer assistance centers nationwide, will be closed on those days. IRS employees will be furloughed without pay. No tax returns will be processed and no compliance-related activities will take place.

The IRS noted that taxpayers should continue to file their returns and pay any taxes due as u

DepositAccounts.com, April 15, 2013
Sheryl Nance-Nash of DepositAccounts.com includes Dan Palmer, financial advisor at Rehmann, in an article outlining what to do with a 401(k) when an employee leaves their job. The article weighs in on options such as rolling the funds into an IRA or a new employer plan. Palmer suggests, “In many cases it can be advantageous to leave your funds in your current employer’s plan, especially if it is a large plan and that plan sponsor has done a good job of negotiating investment fees and overseeing investment options.”

Marla Janness of The Business Edge features Rehmann Principals Tony Curtis and John Pridnia in an article about the Pure Michigan Business Connect initiative that allows new and expanding companies in Michigan to take advantage of free services offered by various Michigan firms, including Rehmann. Click here for the full article.

Rehmann advisors are often called on by the national media to comment on the state of the economy and personal finance issues impacting investors. Recent media coverage includes The Wall Street Journal, and InvestmentNews. Learn more:

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In what is the first accounting sector contribution to date - and one of the largest overall - Rehmann has pledged $200,000 in services to Pure Michigan Business Connect, a statewide initiative designed to spur growth among the thousands of companies that call Michigan home.

"We are pleased to welcome Rehmann to the growing roster of companies that are lending their expertise to Pure Michigan Business Connect," Governor Rick Snyder said. "As a former accountant, I know well and appreciate just how valuable the company's accounting, consulting and tax services will be to many Michigan small businesses and our efforts to create more and better jobs."

Over the next five years

An insidious new threat is lurking on the Internet that accuses victims of viewing child pornography and other illegal content and then essentially holding their PC for ransom.

The Internet Crime Complaint Center (IC3) - a partnership between the FBI, the National White Collar Crime Center and the Bureau of Justice Assistance – is now alerting Web users of malware that delivers ransomware named "Reveton." The ransomware lures the victim to a drive-by download website, at which time the ransomware is installed on the user's computer. Once installed, the computer freezes and a screen is displayed warning the user they have violated United States federal law. The message further de

TROY, MI - Rehmann came away a big winner at the 2012 Michigan Association of CPAs (MACPA) Awards Dinner Monday night, receiving the Firm Appreciation Award and Outgoing Chair Award for Principal John Pridnia, CPA, CGMA.

"We understand how special our Firm is, but it’s still nice to receive confirmation from an organization as renowned as the MACPA," Rehmann Chairman and CEO Steve Kelly said. "The special recognition our colleagues received was especially gratifying."

Rehmann Principal Heidi Bolger, CPA/ABV, CMAP, received a Chair's Service Award as well as Outstanding Task Force award and recognition

The Social Security Administration has announced that Social Security and Supplemental Security Income (SSI) benefits will increase by 1.7 percent in 2013. The rates for Old-Age, Survivors and Disability Insurance (OASDI) and Medicare Hospital Insurance (HI) taxes will remain at a combined 7.65 percent in 2013. Based on the increase in SSI benefits, the maximum taxable earnings for OASDI purposes will increase from $110,100 to $113,700.

The SSA increases are based on the rise in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) for the third quarter of 2011 through the third quarter of 2012. For Social Security beneficiaries, the average monthly benefit

Consider it a belated holiday present from the Internal Revenue Service (IRS): a new program allows employers to reclassify employees while avoiding related penalties that might arise.

Under the IRS Voluntary Classification Settlement Program (VCSP), employers are allowed to voluntarily reclassify workers as employees and receive relief from payroll taxes otherwise owed if the employer:

• Consistently treated the workers as nonemployees,
• Filed all required Form 1099 for the workers in the previous three years, and
• Is not currently under audit by the IRS or the Department of Labor [IRS Ann. 2011-64, 2011-41 IRB 503].

The IRS is provi

At Rehmann, we're committed to delivering business wisdom to our clients. As part of that commitment, we want to draw your attention to timely tax-related information that might impact your private or professional tax landscape.

National Taxpayer Advocate Nina E. Olson recently released her 2012 annual report to Congress in which she describes several facets of tax-related legislation that, in her opinion, require reform. We have provided a link to this report so that you can read her statements and findings on tax reform, IRS funding and tax-related identity theft. Her recommendations would have a significant impact on current tax law and are worth reviewing.

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