Protecting Yourself Against IRS Scams

Provided by J.C. Harrison, Simplified Business & Tax Service

The Internal Revenue Service receives thousands of reports each from taxpayers who receive suspicious emails, phone calls, faxes, notices claiming to be from the IRS. They fraudulently use IRS name or logo as a lure to make the communications as more authentic and enticing. The goal of these scamsknown as phishingis to trick you into revealing your personal and financial information. The scammers can then use your informationlike Social Security number, bank account or credit card numbersto commit identity theft or steal your money.
Here are five things the IRS wants you to know about phishing scams.
1.  The IRS never asks for detailed personal financial information like PIN numbers, passwords or similar secret information for credit card, bank or other financial accounts.
2.  The IRS does not initiate contact with taxpayers by email request personal or financial information. If you receive an inquiry from someone claiming to be the IRS or directing you to another site:
  a. Do not reply to the message.
  b. Do not open any attachments. Attachments may contain malicious code that   will infect your computer.
  c. Do not click on any links. If you clicked on links in a suspicious e-mail or  phishing website and entered confidential information, visit the IRS website and  enter the search term 'identity theft' for more information and resources to help.
3.  The address of the official IRS website is www.irs.gov. Do not be confused or misled by sites claiming to be the IRS but ending in .com, .net, .org or other designations instead of .gov. If you discover a website that claims to be the IRS but you suspect it is bogus, do not provide any personal information on the suspicious site and report it to the IRS.
4.  If you receive a phone call, fax or letter in the mail from an individual claiming to be from the IRS but suspect they are not an IRS employee, contact the IRS at 1-800-829-1040 to determine if the IRS has a legitimate need to contact you. Report any bogus correspondence. You can forward a suspicious email to phishing@irs.gov.
5.  You can help shut down these schemes and prevent others from being victimized. Details on how to report specific types of scams and what to do if you've been victimized are available at www.irs.gov. Click on “phishing” on the home page.

Tax Time in Meadow Vista

MV Lions Club News & 2015 Events

Submitted by Etta Gross, Meadow Vista Lions Club

A special Thank you to all who purchased See's Candies from us in front of Holiday Market and at True Value Hardware.  The proceeds will be shared equally between Sierra Reach Ministries Food Closet and Meadow Vista Friendly Neighbors Club. We also appreciate those that attended the Crab Feed on February 7th. This fundraiser helps to support many of our yearly community causes and we appreciate your help.

Mark your calendars for our up- coming events:  

• Easter Egg Hunt, April 4 at  Placer Hills School play-yard (Soccer Field) begins at 10:00 a.m. SHARP!  The hunt is over within 10 minutes, so please arrive early.

• Mothers' Day Breakfast,  Sunday, May 10 at Sierra Hills School Auditorium. More information will be posted throughout town as we approach the dates.

We welcome potential members to join in our meetings held on the 2nd and 4th Wednesday at the Grange Hall.  Meetings start at 7 p.m.  For additional information contact our Club President Ron Carmichael at 637-5805 or any Meadow Vista Area Lions member.

Add Some Tradition to Your Holidays

By Ashlei Jackson, Qlixite

The holidays are centered around tradition! Everyone has that time-honored activity or item that reminds them of childhood memories of Christmas or Hanukkah or Kwanza...or however you celebrate - these traditions make this ‘Wonderful Time of the Year” special and give meaning to the holidays.    Thinking of adding a new tradition this year? Here are some various traditions that can add to your festive season!
• The Christmas Pickle - The exact country of origin for putting a pickle ornament on your tree is fairly unknown but visit any ornament section of the store and you’re bound to find a pickle ornament! The Tradition: The ornament is hidden on the tree on Christmas Eve. On Christmas morning, all of the children in the house take turns looking for the pickle ornament and the child who finds the Christmas pickle receives an extra present for his or her good work.

• Caroling - Also called a noel, song or hymn - the act of groups of people singing outside in the wintertime goes back to the Middle Ages making them some of the oldest musical compositions still regularly sung. The Tradition: Whether you physically go sing in a choir or caroling group - include singing as a family (not just listening) to your regular holiday activities to add an uplifting note.

• Hang Holly - To the Irish Celtics, holly represented both life and rebirth; the evergreen leaves symbolized life during a time when all else was bare and the red berries represented the coming of Spring. The Tradition: Add Holly to your home to welcome in the New Year and remind you of hope.

• Light a Rememberance Candle on the Winter Solstice - The Winter Solstice is the day of the year when the position of the earth in respect to the sun results in the shortest period of daylight hours. It became very important for many cultures to ‘remind’ people that the light would ‘return.’ The Tradition: On the evening of the Winter Solstice, sit in a darkened area and each person take turns lighting a candle. Whether you choose to light candles to symbolize those people who may have passed away or choose to have the candles represent goals is up to you. Leave the candles lit until bedtime, then use a lid to extinguish the flames instead of blowing them out which would blow away the good ‘luck’ or ‘memories.’

• Stocking Buttons - Children often go through minor depression the day you take down all decorations. The Tradition: On the chosen day of clean up, at dinner, a small box is set next to the dinner plate of each person. Inside is a button that relates to the person/child. After dinner each person sews the button on their stocking which then gets packed away. This special activity makes cleaning up a positive event.
Whether you choose to adopt one of these traditions or all of them - remember not to add so much to your plate that you end up adding stress. This is a wonderful time of year - let’s keep it that way!

How to Spot a Scam IRS Phone Call

By J.C. Harrison, Simplified Business & Tax Service

The IRS continues to warn the public to be alert for telephone scams and offers five tell-tale warning signs to tip you off if you get such a call. These callers claim to be with the IRS. The scammers often demand money to pay taxes. Some may try to con you by saying that you're due a refund. The refund is a fake lure so you'll give them your banking or other private financial information.

These con artists can sound convincing when they call. They may even know a lot about you. They may alter the caller ID to make it look like the IRS is calling. They use fake names and bogus IRS badge numbers. If you don't answer, they often leave an “urgent” callback request.

The IRS respects taxpayer rights when working out payment of your taxes. So, it's pretty easy to tell when a supposed IRS caller is a fake. Here are five things the scammers often do but the IRS will not do. Any one of these five things is a sign of a scam.

The IRS will never:

1. Call you about taxes you owe without first mailing you an official notice.
2. Demand that you pay taxes without giving you the chance to question or appeal the amount they say you owe.
3. Require you to use a certain payment method for your taxes, such as a prepaid debit card.
4. Ask for credit or debit card numbers over the phone.
5. Threaten to bring in local police or other law-enforcement to have you arrested for not paying.

If you get a phone call from someone claiming to be from the IRS and asking for money, here's what to do:

• If you know you owe taxes or think you might owe, call the IRS at 800-829-1040 to talk about payment options. Continued on page 11 You also may be able to set up a payment plan online at IRS.gov
• If you know you don't owe taxes or have no reason to believe that you do, report the incident to TIGTA at 1-800-366-4484 or at www.tigta.gov.
• If phone scammers target you, also contact the Federal Trade Commission at FTC.gov. Use their “FTC Complaint Assistant” to report the scam. Please add “IRS Telephone Scam” to the comments of your complaint.

Remember, the IRS currently does not use unsolicited email, text messages or any social media to discuss your personal tax issues. For more information on reporting tax scams, go to www.irs.gov and type “scam” in the search box.

Self-Employed Tax Info

By J.C. Harrison, Simplified Business & Tax

Generally, you are self-employed if any of the following apply to you:
• You carry on a trade or business as a sole proprietor or an independent contractor.
• You are a member of a partnership that carries on a trade or business.
• You are otherwise in business for yourself (including a part-time business)

WHAT ARE MY SELF-EMPLOYED TAX OBLIGATIONS?
As a self-employed individual, generally you are required to file an annual return and pay estimated tax quarterly.
Self-employed individuals generally must pay self-employment tax (SE Tax) as well as income tax. SE tax is a Social Security and Medicare tax primarily for individuals who work for themselves. It is similar to the Social Security and Medicare taxes withheld from the pay of most wage earners. In general, anytime the wording “self-employment tax” is used, it only refers to Social Security and Medicare taxes and not any other tax (like income tax).
Before you can determine if you are subject to self-employment tax and income tax, you must figure your net profit or net loss from your business. You do this by subtracting your business expenses from your business income. If your expenses are less than your income, the difference is net profit and becomes part of your income on page 1 of Form 1040. If your expenses are more than you income, the difference is a net loss. You usually can deduct your loss from gross income on page 1 of Form 1040. But in some situations your loss is limited. See Pub. 334, Tax Guide for Small Business (For Individuals Who Use Schedule C or C-EZ) for more information.
You have to file an income tax return if your net earnings from self-employment were $400 or more. If your net earnings from self-employment were less than $400, you still have to file an income tax return if you meet any other filing requirement listed in the Form 1040 instructions (PDF).

Tax Time in Meadow Vista, CA

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Scotch Broom Challenge 2013

IRS Plans Tax Season Opening in 2013

By JC Harrison, Simplified Business & Tax Services

Following the January tax law changes made by Congress under the American Taxpayer Relief Act (ATRA), the Internal Revenue Service announced today it plans to open the 2013 filing season and begin processing individual income tax returns on Jan. 30.

 The IRS will begin accepting tax returns on that date after updating forms and completing programming and testing of its processing systems. This will reflect the bulk of the late tax law changes enacted Jan.2. The announcement means that the vast majority of tax filers -more than 120 million households -should be able to start filing tax returns starting Jan 30.

 The IRS estimates that remaining households will be able to start filing in late February or into March because of the need for more extensive form and processing systems changes. This group includes people claiming residential energy credits, depreciation of property or general ,business credits. Most of those in this group file more complex tax returns and typically file closer to the April 15 deadline or obtain an extension.

Home Selling Insight

By Fred Eichenhofer, Sierra Pacific Real Estate

Why do some homes sell in days when others take months or don’t sell at all?
 When sellers or their real estate agent overlook any of the important ingredients of a successful sale, a home can linger on the market. Here are 3 reasons why a home doesn't sell quickly:

1. Asking Price is Too High.  When a home first comes on the market, the list price should be at or near the market value so buyers see it as a good value and put in an offer. The first 30 days are crucial! Pricing a house is very important even with low inventory. When buyers do not see the value in the home at the current listing price, or it’s priced far above a reasonable price range for the current market, buyers usually will not look at the house or write an offer.

2. Poor Marketing. Most real estate agents will do nothing more than put the house in the MLS (Listing system). You want an agent that will be aggressive with their marketing especially within the first 30 days. It is amazing how many agents will place a house on our listing system with no photos for days, thereby missing potential buyers that have already viewed the listing (without a photo), drastically losing potential buyers interest.

3. Home is not staged properly. A buyer wants to buy a home they can imagine living in with their family. Get the facts on how to stage your home properly. When buyers walk in the home, they should be able to envision themselves in the house as their new home.
 It is important to hire a Realtor you feel comfortable with, and a Realtor experienced to deal with all of the intricacies of a real estate transaction.
 Many times we see sellers select an agent that said their house would sell at a far higher price than the market would bear, only to sell months later at a price lower than other agents suggested. Be careful not to base your decision solely on an agent that gives you a price range higher than others, or one who will instantly cut their commission…keep in mind the old saying “You get what you pay for”.  There are a lot of expenses a listing agent incurs in order to market your home properly, other agents may not do because of the expense involved.  Lack of marketing to the public is a disadvantage for a seller, as well as initial pricing of a home. Marketing and pricing are very important aspects for a successful sale of a home.

Trick or Treat Trail 2012 in Meadow Vista

 

The Meadow Vista Merchants Trick or Treat Trail will be held in downtown Meadow Vista on Wednesday, October 31st from 3pm to 6pm. Children & Adults can visit the participating downtown merchants displaying a pumpkin poster for a treat.

 

Special Edition Tax Tip 2012

By J.C. Harrison, Simplified Business & Tax

The tax deadline may have just passed but planning for next years start now. The IRS reminds taxpayers that being organized and planning ahead can save time, money and headaches in 2013. Here are six things you can do now to make next April 15 easier.
1.  Adjust your withholding - Why wait another year for a big refund? Now is a good time to review your withholding and make adjustments for next year, especially if you'd prefer more money in each paycheck this year. If you owed at tax time, perhaps you'd like next year's tax payment to be smaller. Use IRS's Withholding Calculator at http://www.irs.gov/ or Publication 919, How Do I Adjust My Tax Withholding?
2.  Store your return in a safe place - Put your 2011 tax return supporting documents somewhere secure so you'll know exactly where to find them if you receive an IRS notice and need to refer to your return. If it is easy to find, you can also use it as a helpful guide for next year's return.
3.  Organize your recordkeeping - Establish a central location where everyone in your household can put tax-related records all year long. Anything from a shoebox to a file cabinet works. Just be consistent to avoid a scramble for misplaced mileage log or charity receipts come tax time.
4.  Review your paycheck - Make sure your employer is properly withholding and reporting retirement account contributions, health insurance payments, charitable payroll deductions and other items. These payroll adjustments can make a big difference on your bottom line. Fixing an error in your paycheck now gets you back on track before it becomes a huge hassle.
5.  Prepare to itemize deductions - If your expenses typically fall just below the amount to make itemizing advantageous, a bit of planning to bundle deductions into 2012 may pay off. An early or extra mortgage payment, pre-deadline property tax payments, planned donations or strategically paid medicals bills could equal some tax savings. See the Schedule A instructions for expenses you can deduct if you're itemizing and then prepare an approach that works best for you.
6.  Strategize tuition payments - The American Opportunity Tax Credit, which offsets higher education expenses, is set to expire after 2012. It may be beneficial to pay 2013 tuition in 2012 to take full advantage of this tax credit, up to $2,500, before it expires for more information, see IRS Publication 970, Tax Benefits for Education.
The IRS emphasizes that each household's financial circumstances are different so it's important to fully consider your specific situation and goals before making large financial decisions.

New IRS Fresh Start helps Taxpayers

By J.C. Harrison, Simplified Business & Tax

The Internal Revenue Service has expanded its “Fresh Start” initiative to help struggling taxpayers who owe taxes. The following three items explain the expanded relief for taxpayers.
 Penalty relief Part of the initiative relieves some unemployed taxpayers from failure-to-pay penalties. Penalties are one of the major factors a financially distressed taxpayer faces on a tax bill. The Fresh Start Penalty Relief Initiative gives eligible taxpayers a six month extension to fully pay 2011 taxes. Interest still applies on the 2011 taxes from April 15, 2012 until the tax is paid, but you won't face the failure-to-pay penalties if you pay your tax, interest and any other penalties in full by October 15, 2012.
1.  PENALTY RELIEF
 *Wage earners who have been unemployed at least 30 consecutive days during  2011 or in 2012 to this year April 17 deadline.
 *Self-employed individuals who experienced a 25 percent or greater reduction in  business income in 2011 due to the economy.
 TO QUALIFY for this penalty relief, your adjusted gross income may not exceed $200,000 if married filing jointly or $100,000 if filing status is single, married filing separately, head of household or qualifying widower. Your 2011 balance due can not exceed $50,000.
2.  INSTALLMENT AGREEMENTS
 An installment agreement is a payment option for those who cannot pay their entire tax bill by the due date. The Fresh Start provisions give more taxpayers the ability to use streamlined installment agreements to catch up on back taxes and also more time to pay.
3.  OFFER IN COMPROMISE
 Under the first round of Fresh Start in 2011, the IRS expanded the Offer in Compromise (OIC) program to cover a larger group of struggling taxpayers. An Offer in Compromise is an agreement between a taxpayer and the IRS that settles the taxpayer's tax liabilities for less than the full amount owed.
 Generally, an offer will not be accepted if the IRS believes that the liability can be paid in full as a lump sum or through a payment agreement. The IRS looks at the taxpayer's income and assets to make a determination regarding the taxpayer's ability to pay.

Protect Yourself from Cyber Criminals

Provided by J.C. Harrison, Simplified Business & Tax Service

The Internal Revenue Service receives thousands of reports each from taxpayers who receive suspicious emails, phone calls, faxes, notices claiming to be from the IRS. They fraudulently use IRS name or logo as a lure to make the communications as more authentic and enticing. The goal of these scamsknown as phishingis to trick you into revealing your personal and financial information. The scammers can then use your informationlike Social Security number, bank account or credit card numbersto commit identity theft or steal your money.

Here are five things the IRS wants you to know about phishing scams.

1.  The IRS never asks for detailed personal financial information like PIN numbers, passwords or similar secret information for credit card, bank or other financial accounts.

2.  The IRS does not initiate contact with taxpayers by email request personal or financial information. If you receive an inquiry from someone claiming to be the IRS or directing you to another site:
 a. Do not reply to the message.
 b. Do not open any attachments. Attachments may contain malicious code that   will infect your computer.
 c. Do not click on any links. If you clicked on links in a suspicious e-mail or  phishing website and entered confidential information, visit the IRS website and  enter the search term 'identity theft' for more information and resources to help.

3.  The address of the official IRS website is www.irs.gov. Do not be confused or misled by sites claiming to be the IRS but ending in .com, .net, .org or other designations instead of .gov. If you discover a website that claims to be the IRS but you suspect it is bogus, do not provide any personal information on the suspicious site and report it to the IRS.

4.  If you receive a phone call, fax or letter in the mail from an individual claiming to be from the IRS but suspect they are not an IRS employee, contact the IRS at 1-800-829-1040 to determine if the IRS has a legitimate need to contact you. Report any bogus correspondence. You can forward a suspicious email to phishing@irs.gov.

5.  You can help shut down these schemes and prevent others from being victimized. Details on how to report specific types of scams and what to do if you've been victimized are available at www.irs.gov. Click on “phishing” on the home page.

Fitness Is A Family Affair

By Shannon Smith, Stroller Strides

The American Academy of Pediatrics encourages regular physical activity for children aged 2 and up on most, if not all, days of the week for an average of 60 minutes a day. Regular activity is considered most important for obtaining health-related benefits, even if it is not vigorous exercise. Youth are inherently fit; current recommendations focus on making sure children stay active instead of retreating into a sedentary pattern.
The benefits of exercise are enjoyed by children as well as adults. Physical activity can help:
 • Prevent high blood pressure & high cholesterol
 • Strengthen bones
 • Ward off heart disease and other medical problems
 • Relieve stress
 • Maintain or achieve an appropriate weight for height and body build
 • Reduce risk for Type II Diabetes
 • Provide a healthy outlook on life

 Recommendations for youth fitness focus on promoting a variety of activities that are fun and can be easily incorporated into a child’s lifestyle. These activities can include team sports, individual sports, and recreational or lifetime activities, such as walking, bicycling, and swimming.
Any form of physical activity that is regular, enjoyable, and sustainable is the desired endpoint.
 Exercise will be most enjoyable, and thus, beneficial, if it is part of a family experience. Fitness should be a family affair and should be promoted as a fun, healthy way of life. Taking family bike rides, hiking together, swimming, or just running around on the playground are fun ways in incorporate family fitness. In addition to regular physical activity, a healthy, balanced diet filled with fruits, vegetables, and whole grains will help your children maintain fitness levels and healthy body mechanics. 

Tax Man News

By J.C. Harrison, Simplified Business & Tax

Be sure to fine-tune your estimated tax payments and withholding for 2011 if you owed a lot of tax for 2010 or you expect you'll be short for this year. You need to adjust estimated tax payments now. But you can wait until year-end to boost withholding, because withheld tax is treated as if paid evenly over the year. Additional income tax can be withheld from a Dec. IRA payout, for example. You needn't prepay all the tax you might owe for 2011, just an amount equal to 90% of it, or 100% of your 2010 tax bill (110% if your AGI exceeded $150,000 in 2010). Doing so avoids the underpayment penalty, even if you end up owing IRS a lot of tax.
 Self-employeds can amend prior year returns to deduct Medicare premiums as part of their income tax deduction for health insurance on Form 1040, IRS says in Pub. 535. Many didn't write off the premiums in pre-2010 years because the instructions for those prior years said the amounts were not deductible. Pub. 535 and the 1040 instructions for 2010 now expressly allow this write-off.

7 Cheap Ways to Boost Your Home's Sales Price by Spring

By Glenda Harrison, Sierra Pacific Real Estate

Spring is in the air!!  Are you contemplating selling your home?  Is your home listed but you aren't getting offers?  Get your home ready for the Spring buying season with these 7 easy tips:
1.  Retouch the Front Shell - Touching up the paint on the front-entry portion of the house can be an inexpensive but effective way to make the entire property more inviting.  You would be amazed by the amount of people that drive by a house and say, “Ah, that's not for me.”  Buyers tend to judge the interior of a home by the exterior.
2.  Trim the Greenery - Ensuring that your property's landscaping is well maintained helps make your home more alluring to prospective buyers as well. Property owners can hire professional landscapers or break out the lawn mower and get busy themselves.  Trim the trees, trim the hedges and add a little color to the flower beds.
3.  Paint the Interior - Putting a fresh coat of paint on the home's interior is a cost-effective way for sellers to make their home more appealing to buyers, but when choosing the color, homeowners should be conservative.  The caution is that your favorite color may not be the favorite color of the buyer.

4.  Don't Forget the Floors - Improving the condition of a home's flooring is also a smart move for sellersand you don't need to refinish wood floors or install new carpets to make them more attractive.  Re-buff the hardwood floors and/or have the carpets and tile cleaned.

5.  New Light Fixtures - Replacing old or broken light fixtures with new ones can also be a low-cost way to add value.  Installing a nice new light fixture in the foyer near the home's entrance can be a particular benefit.
6.  Freshen Up the Bathrooms
Getting rid of mildew stains on the bathroom caulking can boost a home's appeal as well.  Such stains scream, 'These people haven't taken care of this house.  It's going to be a money pit.”  Use a razor blade to remove the old caulk, and replace it with new, mildew-resistant caulk.
7.  New Stove in the Kitchen - While some homeowners might think the only way to jazz up a dated kitchen is a full-on remodeling job, a much less costly alternative is buying a new stove.  If there is an updated stove in the kitchen, it is amazing how that draws people in!
Be sure to contact a local Merchant Realtor with all your Realtor needs and questions.