The Skinny on How to Import Your QuickBooks Data from Mac to QuickBooks Online

  If you use QuickBooks for Mac, you may be interested to hear that Intuit announced they will not be releasing any further versions of the Mac version of QuickBooks. If you have an older version than the 2016 QuickBooks for Mac, you are welcome to purchase the 2016 update and Intuit has stated they… Read more »

IRS won’t reject returns that are silent regarding compliance with ACA Individual Mandate

The IRS won’t require people to mark whether they have health insurance when filing their tax returns, a shift from current requirements under the Affordable Care Act’s individual insurance mandate. The agency walked back a previous decision to require an indication of coverage on tax returns after President Donald Trump signed an executive order Jan…. Read more »

Be prepared to validate identity when calling IRS

The IRS has issued some tips regarding taxpayer phone calls to IRS, including what information callers need to be able to provide to the IRS call center assistors to validate their identity. Noting that mid-February marks the agency’s busiest time of the year for telephone calls, the IRS has passed along the following tips regarding… Read more »

Short-Duration Contract Guidance Changes – What You Need to Know

During May 2016, the FASB issued Accounting Standards Update (ASU) 2015-09, Disclosures about Short-Duration Contracts. This standard updates ASC 944, Financial Services, and will require expanded disclosures, including the following: Incurred claims triangle(s) for up to 10 years: Incurred claims & allocated claims adjustment expenses (CAE) IBNR at end of period – broken out by… Read more »

Non-Profit Organizations Can Benefit from Accounting System Consultation

If you operate a non-profit business or organization, then you’re aware that there are a large number of tax laws and government regulations associated with your yearly operations. In some cases, minor discrepancies in filing certain documents and tax statements can cause significant problems. Here at Larson & Company, we offer accounting system consultation services… Read more »

Larson & Company Can Help with Tax Penalty Abatement

Every year, tax laws and regulations grow in complexity. At the same time, the Internal Revenue Service gives increased scrutiny to business tax reporting and income tax compliance. Being asked to report to the IRS to answer tax queries or being directly audited can cause a significant amount of stress. At the same time, it… Read more »

IRS Debunks Myths Surrounding Tax Refunds

As millions of people begin filing their tax returns, the Internal Revenue Service reminds taxpayers about some basic tips to keep in mind about refunds. During the early parts of the tax season, taxpayers are anxious to get details about their refunds. In some social media, this can lead to misunderstandings and speculation about refunds…. Read more »

Top Ways to Get Help Now From is a convenient place to get answers when it’s time to file a tax return. Many tools and services are here, available 24/7. Here are some helpful ways to use Get Answers to Tax Questions. The Interactive Tax Assistant covers many common tax topics. Type in a question or search terms and it can lead step-by-step… Read more »

Don’t Fall for Scam Calls and Emails Posing as IRS

  Scams continue to use the IRS as a lure. These tax scams take many different forms. The most common scams are phone calls and emails from thieves who pretend to be from the IRS. Scammers use the IRS name, logo or a fake website to try and steal money from taxpayers. Identity theft can… Read more »

Things to Remember When Choosing a Tax Preparer

Taxpayers should choose their tax return preparer wisely – with good reason. Taxpayers are responsible for all the information on their income tax return. That’s true no matter who prepares the return. Here are ten tax tips to keep in mind: Check the Preparer’s Qualifications.Use the IRS Directory of Federal Tax Return Preparers with Credentials and… Read more »