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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 providing temporary relief (through 6/30/13) to allow taxpayers who have not filed all required Form 1099 for the previous three years to be eligible for a modified VCSP and still receive partial relief from employment taxes...

Friday, 30 November 2012

Federal Tax Day

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...

John Pridnia recognized with multiple awards 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 as an outgoing MACPA board member...

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...

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, Rehmann will offer companies in the early stages of development accounting, consulting and tax services through its offices across Michigan...

Thursday, 09 February 2012

In the News

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...

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