There is a new e-mail scam related to the Electronic Federal Tax Payment System (EFTPS) that we want you to be aware of. According to the IRS, the scheme targets...
Client Memo Fraudulent EFTPS E-Mail Scams
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Publications
Client Memo – Estate Beneficiary
Client Memo – Red Flags
Fraudsters exhibit behavioral warning signs of their misdeeds. These red flags are not to be ignored as they might be the key to detecting or deterring fraud. Employee...
Client Memo – Fraud Prevention
A strong system of internal accounting controls is important in preventing fraud. The internal control system consists of the mechanisms that are in place to protect...
Client Memo – Common Types of Fraud Schemes
There are two types of fraud, occupational fraud, and financial statement fraud. Of the two, occupational fraud is the most costly to small businesses. The common types...
Client Memo – Big Concern for Small Business
According to various studies conducted by the Association of Certified Fraud Examiners (ACFE, www.cfenet.com), the per-employee losses from fraud in the smallest...
Client Memo – IRS Warns of Phone Scams
We would like to bring to your attention a recent warning issued by the IRS about a phone scam that targets people across the nation. Callers claiming to be from the...
Client Memo – Privacy Notice
Your privacy is important to us, and maintaining your trust and confidence is one of our highest priorities. We respect your right to keep your personal information...
Client Memo – Privacy Protection
Unfortunately, we live in a world where our privacy is consistently being threatened, both online and through the various business and governmental organizations that...
Client Memo – Estate Planning Suggestion
With the end of the year fast approaching, we would like to remind you that this is a good time to evaluate your estate planning needs and strategies and consider...
Client Memo – Commitment to Security
Fishman, Block + Diamond, LLP (FBD) has made a strong and proactive commitment to information security in order to protect the sensitive information of our company, and...
Client Memo- Partnership Audit Rules Go Live
As you prepare and gather the 2017 tax data, I strongly encourage you to take this opportunity to review and modify your partnership agreements to be in compliance with...
Client Memo – Tax Time Scam Awareness
As the IRS announced the beginning of the 2018 tax filing season last week, it warned that this is the time when identity thieves and fraudsters are actively seeking...
Client Memo – Tax Cuts & Job Act
The new tax reform law, commonly called the "Tax Cuts and Jobs Act" (TCJA), is the biggest federal tax law overhaul in 31 years,...
Client Memo – Pass Through Income Under New Tax Bill
There has been a lot published about the pass-through deduction for income from pass-through entities (partnerships, LLCs, and S Corporations) which will lower the...
Client Memo – New State Law for Employees
Beginning January 1, 2017, employers with 10 or more employees will be required to electronically submit employment tax returns, wage reports, and payroll tax deposits...
Client Memo – New Taxpayer Procedure
Early last year, the Franchise Tax Board (FTB) implemented a new procedure to notify taxpayers of the name of the tax preparer who has access to their tax information...
Client Memo – Changes to IRS Partnership Audit Rules
The Bipartisan Budget Act of 2015 (the Act) enacted late last year repeals the existing partnership audit rules known as the Tax Equity and Fiscal Responsibility Act of...
Client Memo – Fake Tax Bill Notices
Two weeks ago the IRS issued an alert to taxpayers and tax professionals to be on guard against fake emails containing an IRS tax bill related to the Affordable Care...
Client Memo – Cyber Threats
In the last Presidential debate, the one topic that the candidates agreed on was that the cyber threats facing our nation are serious and potentially devastating. One...
Client Memo – Estate Planning
Two weeks ago the IRS issued proposed regulations that are aiming to eliminate the long-held practice of valuation discounts for lack of marketability and control for...
Client Memo – IRS Transcripts Available Online
The IRS recently relaunched its Get Transcript Online portal which allows taxpayers to download and print records of past tax returns or tax return summaries (the...
Client Memo – IRS to Change Partnership Audit Rules
Late last year, the Congress enacted Bipartisan Budget Act of 2015 (the Act) to repeal the existing partnership audit rules known as the Tax Equity and Fiscal...
Client Memo – CA Competes Tax Credit
California Competes Tax Credit is an income tax credit for businesses that are expanding or relocating to California. It is a tax credit program that Gov. Jerry Brown...
Client Memo – Protecting Americans From Tax Hikes Act of 2015
On December 18, the Senate passed and the President signed into law the Protecting Americans from Tax Hikes Act of 2015 (PATH Act) to extend or make permanent certain...
Client Memo – Tax Increase Prevention Act of 2014
On December 19, 2014, President Obama signed into law the Tax Increase Prevention Act of 2014 (TIPA) to extend various tax provisions that had expired at the end of...
Client Memo – CA FTB Web Pay Instructions
For instructions on how to make your payments to California Franchise Tax Board using the FTB Web Pay, please visit the site below and follow the instructions outlined...
Client Memo – Encrypted Email Enhancement
As you have no doubt read about in recent months the world of cyber security has repeatedly shown that electronic communications are subject to breaches and to...
Client Memo – CA Manufacturing Exemption
Beginning on July 1, 2014, a new California law allows manufacturers and certain research and developers to obtain a partial exemption of sales and use tax on certain...
Client Memo – Mandatory FBAR E-File
The June 30 deadline for filing the annual report to the IRS of a foreign bank and financial account (“FBAR”) is fast approaching and there is no extension of time...
Client Memo – Personal Information Security
As we strive to safeguard your sensitive personal information, we would like to remind you that regular email is not a secure method for sending sensitive data, such as...
Client Memo – IRS Transcripts
Late last month, the IRS launched a new Get Transcript Online portal which allows taxpayers to obtain records of past tax returns (the “Transcripts”). You can download...
Client Memo – Final Regulations on Capitalization of Tangible Property
On September 13, 2013, nine years after the initial announcement in 2004, the IRS and Treasury Department released final regulations addressing the proper...
Client Memo – Medicare Coverage Notice
The Medicare Modernization Act of 2003 requires employers who offer prescription drug coverage to Medicare-eligible employees to notify their policyholders if the...
Client Memo – IRS Dirty Dozen
The Internal Revenue Service recently issued its annual “Dirty Dozen” list of common tax scams, reminding taxpayers to use caution during tax filing season to protect...
Client Memo – Tax Rate Changes
President Obama signed into law, effective January 1, 2013, the American Taxpayer Relief Act (the “Act”) to avert the fiscal cliff by permanently extending some of the...
Client Memo – Year End Estate Planning
With the end of the year fast approaching and changes in the law scheduled to take place, we would like to remind you that this...
Client Memo – Changes in Federal, CA Income, Estate & Gift Tax Rates
With recent voter approval of CA proposition 30, the tax increases included in Obamacare, and the looming expiration of the Bush-era tax cuts both scheduled for January...
Client Memo – Electronic Delivery Consent Required
In 2012, the IRS issued regulations establishing guidelines for partnerships to electronically issue a schedule K-1 to partners, as well as detailing procedures for...