Calling All American Airlines Pilots!

Are you a legacy American Airlines pilot?  Did you receive a retirement payout in 2013 and 2014 as part of American’s reorganization? New tax legislation was recently passed that allows you to rollover up to 90% of those distributions to a tax free retirement account. This may allow you to amend your 2013 and 2014 individual tax returns and save significant money on taxes paid in those years.  However you must act fast! The deadline to rollover accounts is June 15, 2016.

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Superhero or Not – Protect your Identity

Aside from lessons in morality and saving the Earth from evil, Superman illustrates the importance of one fundamental lesson that is often overlooked: protecting your identity. Since the majority of us cannot simply prevent thieves from stealing our identity by replacing our suit jackets and glasses with red capes and tight costumes – although we applaud you if you can – most of us have to rely on other preventative measures to protect against identity theft. Tracking bank  and credit card statements, protecting personal information, and periodically requesting copies of credit reports provides for early detection, thus preventing identity theft and diminishing headaches further down the road.

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IRS Phishing Scams and Cyber-Security

The majority of people are all too familiar with emails that contain enticing subject lines. Unfortunately, if it sounds too good to be true, it probably is. A popular new trend in phishing scams is for criminals to pose as IRS agents either offering refunds, or threatening collections if fines and back taxes aren’t paid. Some of these imposters even intimidate victims via telephone. The fraudsters threaten jail time if not immediately provided with personal credit card information to pay "back taxes."

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Reporting Health Insurance Coverage by Employers

Are you a large employer with 50 or more employees? The Affordable Care Act (ACA) may have some new reporting requirements for you. Beginning with the tax year of 2015, Applicable Large Employers (ALE) will be required to file health insurance coverage information with the IRS in addition to informing employees of the specific health insurance coverage the employer offers.

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