SKR+Co Alert: Healthcare act's "play or pay" employer provisions, senior property tax confusion, IRS identity theft warning + more!
February 28, 2013
IRS releases guidance on health care act's "play or pay" provisions
The IRS has issued extensive proposed regulations implementing the employer-shared responsibility provisions, also known as “play or pay,” of the Patient Protection and Affordable Care Act of 2010. The regulations address numerous topics. This article focuses on which employers must provide affordable health coverage, the requirements for such coverage and the penalties for failing to provide it.
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Clarification for seniors regarding property tax deferral and exemptions in Colorado
There has been some confusion regarding a green mailer insert that many of us received with our annual property tax statement. If not read carefully, (both sides), this form can be misleading. So to clarify what programs are available to senior citizens in Colorado, we've highlighted both the property tax deferral and exemption information in this article.
Read the Full Article Here
Helpful tools in tracking your refund are getting heavy traffic
On February 14th, the IRS issued a statement that it is experiencing heavy volume on "Where's My Refund?" on irs.gov and also the refund feature on the IRS2go phone app, causing delays and service disruptions.
The IRS strongly urges taxpayers to only check on their refunds once a day. IRS systems are only updated once a day, usually overnight, and the same information is available whether on the Internet, IRS2go smartphone app or on IRS toll-free lines.
Here are some tips to help you with your refund questions:
Have your Social Security number, filing status and refund amount ready before using a refund tool.
Only check “Where's My Refund?” once a day as your information will not change.
To avoid system delays, the best time to check on refunds is evening and weekends.
What you should know about identity theft
The IRS reported this month that they have seen a significant increase in refund fraud that involves identity thieves who file false claims for refunds by stealing and using someone's Social Security number. We thought this would be a good time to remind you that the IRS does not initiate contact with taxpayers by email. So if you receive such an email soliciting personal or financial information, forward it to the IRS email@example.com. For phishing scams by phone, fax or mail, call 1-800-366-4484.
To read IRS Tax Tip, "Ten Things the IRS Wants You to Know About Identity Theft", Click Here.
This alert covers a number of different topics and you may have some questions. Please feel free to contact us by phone at (719) 630-1186 or Secure Email if we can assist you in any way.