VOLUME 14 – FALL 2015

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vol-14-01Taxpayers Who Used ‘Get Transcript’ Feature on IRS Website Should Be on the Lookout for IRS Letter, Advises Sigma Tax Pro

The IRS is sending out over 200,000 letters to taxpayers who were affected by ‘Get Transcript’ data breach

Delray Beach, Florida, August 21st 2015

After the initial reports of the issue with the IRS’s ‘Get Transcript’ application that surfaced in May, an internal review has now revealed the full extent of the fraudulent attempts to access taxpayers’ information. Jody Dovich of Sigma Tax Pro states “many tax professionals were already aware of the issue and informed their clients when the news first broke.” However, the IRS will now be sending letters out to all taxpayers who may have had their information stolen by criminals. The IRS maintains that the criminals did not gain access to internal IRS databases however. /p>

The IRS will also be offering a number of additional services to those affected by the issue. These services include free credit protection as well as Identity Protection PINs. The IRS also believes that stolen data may have been taken with a view to filing fraudulent returns next year. For this reason, anyone affected should take all precautions to protect themselves using credit monitoring and the PIN system.

Sigma Tax Pro provides a full range of essential services for tax pros. This includes industry leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base. Sigma is also launching a new identify theft product called IDShield which will be released in September of this year.

Contact: Jody Dovich
Sigma Tax Pro
+1 561-450-6422
Email:http://www.prweb.com/EmailContact.aspx?prid=11351557

 


 

vol-14-02Sigma Tax Pro Reminds Parents and Students to Check on All Education Related Tax Benefits Available

Taxpayers should check to see if they will qualify for either of two college tax credits or other education-related tax benefits for 2015.

Delray Beach, Florida, August 21st 2015

As America says goodbye to summer and heads back to school, students and parents should check to see if they can take advantage of any education-related tax benefits. The two main benefits are the American Opportunity Tax Credit and the Lifetime Learning Credit which are available to taxpayers who pay qualifying expenses for an eligible student. The IRS considers eligible students as the taxpayer, spouse and their dependents. The American Opportunity Tax Credit can provide a credit for eligible students, however the Lifetime Learning Credit provides a maximum credit per tax return.

Jody Dovich of Sigma Tax Pro highlights the importance of being aware of these often overlooked benefits: “When it comes time to file taxes, everyone is looking to squeeze every last dollar out of their refund and this is a great way to do just that.” Nonetheless, it is vital that tax pros are aware of the specific details on these tax credits. They only apply to eligible students who are enrolled in eligible colleges, universities or vocational schools, including both nonprofit and for-profit institutions. Another caveat is that the credits are subject to income limits and this could affect the amount claimed on their tax return.

Sigma Tax Pro provides a full range of essential services for tax pros. This includes industry leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base. Sigma also offers its audit assistance product to protect tax pros and taxpayers in the event of an IRS audit.

Contact: Jody Dovich Sigma Tax Pro +1 561-450-6422

 


 

Greetings tax professionals!

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