Brewer Caley CPAs

The Financial Crimes Enforcement Network is enforcing a new ownership disclosure law. The penalties for not filing are drastic. We will be sending an email out to our business owners and anyone that may have property held in an LLC. Here is a link to the government website: https://www.fincen.gov/ Many business owners will file their own reports but anyone that owns an entity (including a single member LLC) will need to understand the filing requirements.

United States Department of the Treasury Financial Crimes Enforcement Network | FinCEN.gov WASHINGTON—Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) took another major step in support of U.S. Government efforts to crack down on illicit finance and enhance corporate transparency by issuing a final rule that establishes the framework for acces...

Tax Organizers were sent out on Friday, Jan 19th. If you requested a paper organizer, they will be mailed on Jan 22nd.

Happy New Year!

Tax Organizer will be going out next week.

In 2023, you can gift up to $17,000 per person without being required to file a gift tax return with the IRS.

We are hiring! Looking for a full-time Tax Accountant and a Part-time tax preparer.

Brewer Caley CPAs - Vancouver, WA Accounting & Tax Accountants, Tax planning & preparation, business specialists - Brewer Caley CPAs is a full service tax, accounting and business consulting firm located in Vancouver, WA

April 18, 2023, isn't just the deadline to file your taxes. It's your last chance to contribute an IRA for 2022.

The IRS leads their dirty dozen this year with Employee Retention Credit (ERC) scams. If you are a business owner with payroll, you have probably received several messages from pop-up "services" offering to help you get "your" money. Unfortunately for many, it is payroll tax money that you may have to repay and pay penalties and interest.

IRS opens 2023 Dirty Dozen with warning about Employee Retention Credit claims; increased scrutiny follows aggressive promoters making offers too good to be true | Internal Revenue Service IR-2023-49, March 20, 2023 — In a further warning to people and businesses, the Internal Revenue Service added widely circulating promoter claims involving Employee Retention Credits as a new entry in the annual Dirty Dozen list of tax scams.

Due to inclement weather conditions ❄️, our office will be closed today, Thursday, February 23.

Fraudsters have been going after PPP loan recipients. Since the loan information is available publicly, a business that received a PPP loan could be contacted by an actor with nefarious intent. Here is a link to some relevant warnings and suggested actions by Umpqua Bank.

Fraudsters Spoofing SBA Target PPP Loan Recipients Fraudsters armed with fake email addresses are targeting PPP recipients to obtain SBA loan relief login credentials. Learn how to spot them.

Our office will be closed December 26th and 27th for the Christmas holiday. We will be open on Wednesday for those last minute 2022 tax questions.

As of 12/30/22, the IRS has delayed the Form 1099-K $600 reporting threshold. The IRS says third-party settlement organizations will not have to report tax year 2022 transactions on a Form 1099-K, Payment Card and Third Party Network Transactions, to the IRS or the payee for the lower, $600 threshold amount that was enacted as part of the American Rescue Plan Act (ARPA) of 2021, P.L. 117-2.

Filing requirements for IRS Forms 1099 have changed again. Cash App users may be receiving 1099-K for non-business transactions. Check out https://www.brewercaley.com/1099s.php for more information.