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Tax Alerts

  • 1/7/2015

    Foreign Asset and Bank Account Reporting

    As in prior years, annual reporting of foreign financial assets and foreign bank accounts is required and there continues to be rigorous enforcement of significant penalties if the reporting is not done.

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  • 12/30/2014

    Wisconsin Wage Statement and Information Return Requirements

    This is a reminder that Wisconsin Department of Revenue no longer waives the filing requirement for employers and other payers doing business in Wisconsin to submit Forms W-2, 1099-R and 1099-MISC (with no Wisconsin withholding) to Wisconsin.

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  • 12/22/2014

    Tax Extenders Law has Passed!

    Finally, Congress passed the “Tax Increase Prevention Act of 2014” (Act), which the President has signed. The Act extends many tax breaks for business and individuals for 2014 (one year only). The key tax provisions that were extended are as follows...

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  • 12/17/2014

    1040 Online Payments with IRS Direct Pay

    The IRS recently launched IRS Direct Pay, a new method for submitting Form 1040 payments. IRS Direct Pay is an online paperless payment portal for paying individual federal income taxes due (including amended tax returns), requests for extension of time to file, and estimated tax payments for Form 1040.

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  • 12/11/2014

    HRAs & Excepted Benefits (including Medicare Supplemental Health Ins.)

    Health Reimbursement Arrangements (HRAs) are only allowed on a pre-tax basis if the HRA is integrated with an Employer Group Health Insurance Plan, as provided in a previous SVA Tax Alert. It requires...continued

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