News Quick List
- 2021 Tax Filing Date Extended
(posted: Mar, 2021)2021 filing date is now May 17.
- COVID-19 Update April 13
(posted: Apr, 2020)Stimulus payments, guidelines for Paycheck Protection Loans, & more.
- COVID-19 Update: Fed & State Tax Deadlines
(posted: Mar, 2020)IRS payment deadline delayed, but extensions must still be filed by April 15th
- COVID-19 Update: PSVS Still Processing Returns
(posted: Mar, 2020)We are working remotely to process tax returns during the Bay Area lock down.
- IRS Needs TAP Volunteers
(posted: Feb, 2020)Be a part of improving IRS service & customer satisfaction
- 7 Tax Implications of the New Lease Accounting Standards
(posted: Jul, 2019)Businesses need to prepare for the various tax implications that are likely to ensue.
- 2019 Key Deadlines for Businesses And Other Employers
(posted: Jun, 2019)Important 3rd quarter deadlines for businesses.
- February is B Corp Month
(posted: Feb, 2019)Learn a little about this business certification
- Fed relief for Californians Hit by Fires
(posted: Nov, 2018)Some victims of California's recent wildfires may qualify for federal Disaster Unemployment Assistan...
- 401k Limit Increases in 2019
(posted: Oct, 2018)Annual cost of living adjustments increase the dollar amounts for retirment accounts in 2019.
- Buy a Tesla Before the End of 2018
(posted: Jul, 2018)Tax credit will start to phase out in 2019
- Forming a California LLC?
(posted: Jul, 2018)Online tool lets CA owners submit LLC documents online
- IRS Online Tax Tools
(posted: Mar, 2018)IRS reminds you that they have a variety of useful tax tools online.
- New Email Addresses
(posted: Sep, 2017)Full list of PSVS email addresses is here!
- Our New Name: PSVS
(posted: Aug, 2017)We are now Polly, Scatena, Vasheresse and Sater!
- Partner Marcena May Retires
(posted: Jun, 2017)Congratulations and we wish her the best in her new chapter.
- Startups Have New Option for Research Tax Credit
(posted: May, 2017)IRS offers a new option for startups to apply their research credit.
- Amazon to Collect Sales Taxes Nationwide Starting April 1st
(posted: Mar, 2017)Adding the final four states means Amazon will be officially adhering to state sales tax laws.
- Understanding the Small Business Health Care Tax Credit
(posted: Jan, 2017)Find out if your business qualifies for a tax credit.
- PSVM Appoints Sabrina Sater Partner
(posted: Dec, 2016)Sabrina has been with the firm since 1999, and specializes in individual, partnership, corporate, an...
- IRS e-Services Requires Re-registration
(posted: Sep, 2016)Starting October 24 users will be asked to update their information.
- IRS Slashes Fee for Small Exempt Orgs
(posted: May, 2016)IRS lowers fee for small groups to apply for tax-exempt status, July 1st.
- Health Savings Account Limits Released
(posted: Apr, 2016)IRS has released the limits for HSAs for 2017
- Electronic Signatures with RightSignature
(posted: Feb, 2016)New! Convenient digital signing.
- Changes to Tax Credits in 2016
(posted: Jan, 2016)New law affects the child tax credit, the American opportunity credit, and the earned income tax cre...
- Tax Return Filing Deadlines Altered A Bit
(posted: Sep, 2015)For businesses, and owners with foreign accounts.
- California College Access Tax Credit Expanded and Extended
(posted: Aug, 2015)Includes changes to the CATC that favor taxpayers...
- IRS - Final Portability Rules for Estate Tax Exemptions
(posted: Jun, 2015)The final rules adopt temporary regulations issued three years ago with a few clarifying changes.
- More Time To Claim Work Opportunity Tax Credit
(posted: Feb, 2015)Under the extension, timely filing is now April 30, 2015...
- IRS: Outstanding Claims for FICA Tax Refunds Denied
(posted: Feb, 2015)IRS announced that it will reject all of the 3,000+ refund claims...
- MyRA Approved, Launches in 2015
(posted: Jan, 2015)The new myRA (my Retirement Account) savings plan was approved for employees without employer-provid...
- IRS Mileage Rate for 2015
(posted: Dec, 2014)Amounts change, but only slightly...
- Bare Minimum Tax Breaks
(posted: Dec, 2014)Over 50 tax breaks extended to the end of this year, avoiding delays in refunds for taxpayers but le...
- 401(k) Limit Increases in 2015
(posted: Oct, 2014)Save more in 2015!
- Changes to Cafeteria Plan Election Rules
(posted: Sep, 2014)New cafeteria plan election rules.
- Bill to Prevent Tax Refund Theft
(posted: Aug, 2014)Senate bill proposed to prevent tax refund theft...
- Auditing for GASB Pension Standards
(posted: May, 2014)The American Institute of CPAs' Auditing Standards Board has issued three auditing interpretations i...
- Commercial Real Estate Tax Changes for 2014
(posted: Feb, 2014)In June of last year, the Legislature passed Assembly Bill 92 (AB 92) which added California Revenue...
PSVS News
All the latest news that is "fit to print" - along with all our archived news items.
Bill to Prevent Tax Refund Theft
(posted: August 4th, 2014)
The Senate Finance Committee has proposed a set of changes to help fix the problem of tax refund identity theft.
This bill would make tax refund theft a felony, adds assistance for taxpayers who have been victims of identity theft, and requires the Internal Revenue Service to establish a new security feature that individuals can use to protect their tax return filings.
The problem of refund-related identity theft has grown dramatically in the last several years, forcing the Internal Revenue Service to deal with millions of phony returns each year claiming oversized refunds. These returns generally use a stolen Social Security number, and made-up income and deductions. The IRS has trouble blocking them all, because it usually doesn't get compensation data from third parties - such as employers - until later in the year.
If the bill passes, businesses would be required to report both employee compensation and certain non-employee compensation to the government earlier in tax season.
In addition, paid preparers would be required to file individual income tax returns and most information returns electronically, enhancing the IRS's ability to detect fraudulent claims; victims of tax refund theft would be assigned a single contact person within the IRS for help with correcting their tax records and receiving their tax refunds, and individuals' ability to use passwords would be expanded.
Congressional action on the bill is likely a ways off, but it is good to see the problem being addressed.
