Did You Get Married in 2013?

Article Highlights: 

• E-filing is not possible if married name does not match Social Security Administration (SSA) records.
• Use SSA Form SS-5 to update SSA records.
• A married status may produce unexpected tax results.

If you got married during 2013, don’t forget to notify the Social Security Administration (SSA), IRS, and Postal Service of your address and/or name change. If the SSA does not have the same name as used on your tax return, you may not be able to e-file your returns and your refund could be delayed. 

Here are some actions that you should take as soon as possible: 

1. Notify the Social Security Administration − Report any name change to the Social Security Administration so that your name and SSN will match when filing your next tax return. Informing the SSA of a name change is quite simple. File a Form SS-5, Application for a Social Security Card at your local SSA office. You can access the form on SSA’s Web site, by calling 800-772-1213, or at local offices. Your income tax refund may be delayed if it is discovered that your name and SSN don’t match at the time your return is filed.
   
2. Notify the IRS -  If you have a new address, you should notify the IRS by sending Form 8822, Change of Address. 

Click HERE to read more....

Tax Pro Plus Coupon - $50 Discount for New Clients!

$50 Off Tax Preparation

New Clients Only!

Must mention code #50TPP when making appointment.

Expires March 31st, 2014

 

Tax Pro Plus isn't just another tax preparation firm. We are proud to be Enrolled Agents (EAs), a prestigious designation from the Internal Revenue Service. An Enrolled Agent (EA) is a federally-authorized tax practitioner who has technical expertise in the field of taxation. We know taxation and are experts in all areas, including corporate, estate, individual, partnership and federal, local and state taxes. You can count on us for professional, timely and reliable services.

Did You Collect the Needed W-9s?

Article Highlights:

• The IRS Form W-9 is used to obtain independent contractors’ tax ID numbers.
  
• Tax ID numbers are required when filing 1099s.
  
• 1099-MISCs must be issued to independent contractors that are paid $600 or more during the year for performing services for a trade or business.

If you used independent contractors to perform services for your business or trade, and you paid them $600 or more for the year, you must issue them a Form 1099-MISC to get the deduction for their labor and expenses and avoid potential penalties. (This requirement generally does not apply to payments made to a corporation. However, the corporation exception does not apply to payments made for attorney fees and for certain payments for medical or health care services.)

Please click HERE to  read the entire article