3501 Tully Road Suite B • Modesto CA 95356
(209) 526-3091 • (209) 526-2287

Changes in the 2017 Tax Return Filing Season

on February 08, 2017

Each spring, Americans remember – at some point – that it’s tax season and that their tax return needs to be filed. The official deadline for your federal income tax return is April 15th – but that can shift on occasion, for example if it falls on a holiday or weekend.

New Overtime Ruling

on June 23, 2016

Back in 2014, President Obama directed the Secretary of Labor to update the overtime regulations to better reflect the Fair Labor Standards Act. This update should also simplify and modernize the rules so they’re easier to follow and understand. Recently, the Department of Labor issued its final rule that will potentially put more money in the pockets of middle class workers.

Where's My Refund?

on February 08, 2016

With tax season slowly underway and the average tax refund being around $2,957*, we are often asked “Where’s my refund?”

We know that you work hard for your money and, oftentimes, a tax refund may be the biggest check you get all year or the one you wait on to go on that vacation to Hawaii. Here is what happens after the e-file button is pushed and how to check the status of your tax refund.

The Form 1095

on December 29, 2015

During tax times, we are bombarded with lots of numbers and letters referring to different forms we may need. The most common, or well known, are most likely the Form 1040 and W-2. The one form that a large portion of taxpayers will be getting to know is Form 1095 and its various versions. The IRS recently released final regulations concerning these information returns.

60 Days - The Rule for Retirement Plan Rollovers

on November 04, 2015

Important for any rollover distribution is the 60-day rule. To rollover a retirement plan means depositing the amount distributed from one retirement plan and depositing those funds into another plan or IRA. If this is done within 60 days, the distribution will be considered rolled over.

New Tax Law to Double Fines

on September 08, 2015

The Trade Preferences Extension Act of 2015 was signed into law at the end of June 2015.

Learn more about what this could mean for your business.

What To Do In the Case of a Fraudulent Return

on August 28, 2015

Identity theft is an unfortunate reality.

According to the Wall Street Journal, over 800 million individual records have been stolen through major information breaches in the past three years, e.g. when databases such as Target or Anthem were compromised. With these numbers, every individual in the U.S. could have had their information stolen 2.5 times.

What happens when this information turns into a fraudulent return? Read on for more info!

Where's my refund? Why is the amount different?

on August 03, 2015

Each year, about 80% of the almost 150 million total tax filers get a refund.

Millions of these taxpayers are surprised when their refund is less than expected, delayed or never comes at all. Here are some of the common reasons why the IRS changes, holds or takes refunds.

Beware of Penalties on Health Reimbursement Plans

on July 21, 2015

In the past, companies could give employees an allotment of money sufficient to reimburse them for their costs of buying coverage or a portion of it.

They found this to be less expensive and have less administrative costs than having a group insurance plan to manage. As long as the employees could show proof that these funds were being used for this purpose, the funds were excludable from taxable income for the employees. Alternatively, companies could pay the premiums directly.

This has, however, changed.

CA Sick Leave Law: Amendments Coming with AB304

on July 28, 2015

California’s Sick Leave Law took effect on July 1, 2015. The California Legislature has formulated amendments to what is officially known as the Healthy Workplaces, Health Families Act of 2014 (HWHFA).

The proposed amendments, appearing in Assembly Bill 304, would treat some of the Paid Sick Leave Law’s worst maladies. To read the full text of the proposed amendments, click here.

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Clendenin Bird & Company, PC
3501 Tully Road Suite B • Modesto CA 95356
(209) 526-3091 • (209) 526-2287