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Thursday, 05 October 2017

Beware of IRS phone scams

Internal Revenue Service (IRS) phone calls continue to be one of the most prevalent scams going around. Taxpayers receive an unexpected phone call from someone claiming to be from the IRS and are demanded to send money for a bill they owe, or are tricked into sharing private information. These fraudsters seem very convincing when they call because they alter the caller ID, and use fake names and IRS identification badge numbers to appear legitimate. Phone calls tend to be one of the most common ways thieves retrieve personal information from taxpayers, but you should not fall for these tricks...

Rehmann announced today that Thomas Shemanski will serve as principal in its Jackson office. Shemanski serves clients in an advisory capacity, providing outsourced and interim CFO & CEO services, business financing solutions, turnaround management, strategic planning, system implementations and transactional advisory services. Prior to joining Rehmann in 2017, Shemanski was a founding partner and CFO for a business consulting firm that primarily served small to middle market companies, and he also worked for 10 years as a CFO for a $110 million multi-site Tier I automotive supplier.  He has held various interim executive roles where he lead a company through ownership transfer, introduced a significant new customer and assisted a new president’s transition into their role...

Rehmann announced today that it was named one of Michigan’s Best and Brightest in Wellness® by the National Association for Business Resources. The esteemed Best and Brightest in Wellness® awards program honors companies and organizations that recognize and celebrate quality and excellence in health and wellness. NABR annually awards organizations that have demonstrated a commitment to make their business and the community a healthier place to live and work. Winning organizations will be awarded at a prestigious awards gala on October 20, 2017 at The Henry Autograph Collection Hotel in Dearborn, MI...

On September 27, 2017, the Trump Administration, the House Committee on Ways and Means and the Senate Committee on Finance released a nine-page “Unified Framework for Fixing our Broken Tax Code,” presenting goals to lower business and individual tax rates. No legislative language has been released. We will be following this matter closely, providing you with relevant details as they are made available to keep you informed. A CCH Wolters Kluwer Tax Briefing on the framework can be found here...

On September 29, U.S. lawmakers approved the Disaster Tax Relief and Airport Extension Act which provides tax relief for taxpayers impacted by Hurricanes Harvey, Irma and Maria. The bill includes a handful of tax relief measures, including penalty-free access to their retirement accounts, eliminates a requirement that personal casualty losses must exceed 10 percent of adjusted gross income to qualify for a deduction, and provides a tax credit for 40 percent of wages up to $6,000 per employee, paid by a disaster affected employer to employees in core disaster areas...

Wednesday, 27 September 2017

Details of GOP tax reform plan released

On Sept. 27, 2017, Republicans released their Tax Reform Unified Framework that they expect will improve and accelerate economic growth. The proposed plan reduces the number of individual tax brackets from the current seven to three, 12 percent, 25 percent and 35 percent. The tax committees have leeway to create a higher fourth rate for wealthier individuals...

Rehmann, a fully-integrated financial services firm of CPAs and business consultants, wealth advisors and corporate investigators, has promoted Susan Majette to regional administrative manager for the Florida region. Stationed in Stuart, she is responsible for the coordination of administration for all Florida offices. Prior to joining Rehmann, Majette worked at Roegiers Goldin Chappel Nall and Associates as an administrative assistant and was promoted to office manager in 2016, shortly after the firm combined with Rehmann. Majette’s latest promotion mirrors the growth that Rehmann continues to experience in Florida...

Charles “Chip” Hoebeke, director of the Turnaround, Restructuring, and Insolvency practice at Rehmann, completed INSOL International’s prestigious Global Insolvency Practice course, earning the designation of INSOL fellow. INSOL, the International Association of Restructuring, Insolvency and Bankruptcy, is a worldwide federation of national associations for accountants and lawyers that focus their practices on turnaround and insolvency. There are currently 40 member associations globally with more than 10,000 professionals participating as members of INSOL International. Hoebeke achieved this esteemed recognition by completing INSOL’s Global Insolvency Practice Course, an advanced educational qualification curriculum focused on international insolvency...

The IRS announced tax relief programs for victims of Hurricanes Harvey and Irma, extending deadlines for filing taxes and exemptions. A statement by the IRS was released reminding calendar-year partnerships that the due date for filing a return after receiving an extension remained September 15 following a recent change in tax law. However, deadlines have been postponed and extended. For deadlines falling on or after September 6, 2017 and before January 31, 2018, taxpayers will have extra time through January 31, 2018 to file certain tax returns and make tax payments, including estimated payments...

On September 7, 2017, Equifax informed the public that millions of American's personal data was accessed by outside individuals. The breach was discovered on July 29, and Equifax said individuals "exploited a U.S. website application vulnerability to gain access to certain files...

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