Federal Student Tax Scam

ScamAlertThe IRS has issued a warning to taxpayers about bogus phone calls from people impersonating agency employees who demand payment for a non-existent tax that is referred to as the “Federal Student Tax.” (IR 2016-81) While the filing deadline has passed, scammers continue to use varied strategies to trick people, IRS said, adding that, in this case, students are being targeted. As described by the agency, if the victim does not react quickly enough to the demand for this fake “federal student tax,” the scammer threatens to report the student to the police. “These scams and schemes continue to evolve nationwide, and now they’re trying to trick students,” said IRS Commissioner John Koskinen. “Taxpayers should remain vigilant and not fall prey to these aggressive calls demanding immediate payment of a tax supposedly owed.” For further information, go to https://www.irs.gov/uac/newsroom/irs-warns-of-latest-scam-variation-involving-bogus-federal-student-tax.

Small Business Health Care Tax Credit Facts:

  • download (6)The maximum credit is 50 percent of premiums paid for small business employers and 35 percent of premiums paid for small tax-exempt employers.

  • To be eligible for the credit, you must pay premiums on behalf of employees enrolled in a qualified health plan offered through a Small Business Health Options Program Marketplace, or qualify for an exception to this requirement.

Memorial Day Facts

usaMemorial Day Facts: Memorial Day originally honored military personnel who died in the Civil War (1861-1865). Roughly 620,000 Americans died in the Civil War — making it the deadliest war in American history. About 644,000 Americans have died in all other conflicts combined.

The history of accounting

Th1024px-Paciolie history of accounting is thousands of years old and can be traced to ancient civilizations. The early development of accounting dates back to ancient Mesopotamia, and is closely related to developments in writing, counting and money; there is also evidence for early forms of bookkeeping in ancient Iran, and early auditing systems by the ancient Egyptians and Babylonians. By the time of the Emperor Augustus, the Roman government had access to detailed financial information.