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Accounting and Accountability

Oct 8, 2021

In this episode:

  • The IRS has a significant backlog processing income tax returns.  They have sent out over 9M math error notices regarding COVID relief funds.
  • The 10% penalty for taxpayers 59.5 and older from pulling funds out of an IRA is waved if the funds are being used for educational expenses.
  • IRS collection...


Sep 10, 2021

Unpaid payroll tax numbers are soaring.

1099Ks will start being issued to vendors who received more that $600 in credit card sales.

Employers who elected to defer payments on the 6.2% SS match need to look into repaying that money.

Divorced parents who use the “every other year” method for claiming children may want...


Aug 27, 2021

In this episode: 

  • Current proposals including:
    • Required Minimum Distribution age increase
    • Catch-up Contributions may be treated like Roth IRAs
    • Raising the state and local cap from a $10,000 to $15,000 deduction

The story of Jack Abramoff, known as the "Man who Bought Washington". 


Feb 12, 2021

Faw Casson reviews the newest proposed COVID-19 relief package highlights including new stimulus payments for individuals, the potential enhancements to the Earned Income Tax Credit, and talks of an increase in the Child Tax Credit.  Are you a sole proprietor? There are benefits from deferring your Social Security Tax...


Jan 15, 2021

This week we dive into the second round of Payroll Protection Program loans and discuss what is different and what has changed from round one.  Then we discuss the Employee Retention Credit that is now available to those businesses who took advantage of the PPP loans.  

Our white collar crime story focuses on Joel...