January - July 2016
At Lewis & Schiefer, LLC, it is our goal to use electronic communication
as much as possible and reduce our environmental footprint.
Soon we will be offering electronic delivery of your annual tax preparation
packet through encrypted email. This is the first step towards transitioning
into several new phases of digital business for us.
For many years, we have been communicating electronically with the IRS as part
of the work we do for our clients. We see establishing our future online Client
Portal as part of an advanced and more available means of doing business.
We hope that everyone who already enjoys the many benefits that the internet
is now providing, will find managing your tax documents online an extra benefit
at Lewis & Schiefer, LLC.
In the future, we will be seeking your input, while we build your personal profile
and establish your connectivity.
We appreciate your patience and sincerely look forward to serving you.
Joe Schiefer & Roy A. Lewis
2016 TAX DEVELOPMENTS
July 20, 2016
The following is a summary of important tax developments that have
occurred in the past three months that may affect you, your family, your investments,
and your livelihood. Please call us for more information about any of these
developments and what steps you should implement to take advantage of favorable
developments and to minimize the impact of those that are unfavorable.
Date extended for employers to claim revived work opportunity tax
credit. The Code Sec. 51 work opportunity tax credit allows employers
who hire members of certain "targeted groups" to get a credit against income
tax. The credit was retroactively revived by the Protecting Americans from Tax
Hikes Act of 2015. The previous transitional relief for eligible employers who
want to claim credit has been extended. The transitional relief gives employers
three extra months-until Sept. 28, 2016-to file the forms necessary to claim
the credit for certain eligible workers. An employer that hires a member of
a targeted group, including a long-term unemployment recipient, who begins work
for that employer on or after Sept. 1, 2016, is not eligible for this transition
relief with respect to any such new hire....