Riley's Accounting Inc

05/08/2026

Have you received a letter from the IRS called Notice CP53E. If you get one, don’t panic—but do be careful. Lately, these notices have been popping up everywhere for two main reasons:

-->Errors: The IRS has reportedly sent many of these out by mistake. People who weren't even expecting a refund are getting them.

-->Scam Risks: Because so many people are confused, scammers are trying to use fake versions of this letter to steal bank account details.

If you receive a CP53E notice:

-->Check your records: Were you actually expecting a refund? If you already got your refund or didn't have one coming, the letter might be an error or a scam.

-->Don’t click or scan: Avoid using QR codes or links in the letter if you are suspicious.

-->Go to the source: Instead of following instructions in the letter, go directly to www.irs.gov and log into your "Online Account" to see if there are any real messages for you.

-->Wait for the check: If you do nothing, the IRS will usually just mail a paper check to your house after about 6 weeks.

As always, if you’re a client and you receive one of these, give us a call. I’m happy to look it over!

https://www.kiplinger.com/taxes/irs-refund-letters-spark-confusion-over-fake-cp53e-notices

https://www.cbiz.com/insights/article/irs-notice-cp53e-issued-in-error-what-taxpayers-should-know

Some CP53E IRS notices may be erroneous. Take a careful and informed approach to help avoid unnecessary action and reduce the risk of fraud.

05/05/2026

Was your PA Refund larger than you expected?
The Working Pennsylvanians Tax Credit (WPTC) is a new state-level tax credit modeled after the federal Earned Income Tax Credit (EITC). The state credit equals 10 percent of your federal credit.

If you qualified for the federal EITC, you automatically qualify for the state credit — helping to lower your taxes or increase your refund. The maximum state credit is $805.

The Department of Revenue will automatically calculate your WPTC and apply it to reduce your PA taxes or increase your refund.

https://www.pa.gov/agencies/revenue/resources/tax-types-and-information/personal-income-tax/working-pennsylvanians-tax-credit

04/15/2026

📣 𝗡𝗢𝗪 𝗛𝗜𝗥𝗜𝗡𝗚 𝗮𝘁 𝗣𝗲𝗻𝗻𝗪𝗲𝘀𝘁 𝗖𝗹𝗮𝗿𝗶𝗼𝗻! PennWest University is seeking a 𝗠𝗮𝗿𝗸𝗲𝘁𝗶𝗻𝗴 𝗮𝗻𝗱 𝗧𝗿𝗮𝗶𝗻𝗶𝗻𝗴 𝗖𝗼𝗼𝗿𝗱𝗶𝗻𝗮𝘁𝗼𝗿/𝗪𝗘𝗗𝗻𝗲𝘁 𝗣𝗿𝗼𝗴𝗿𝗮𝗺 𝗖𝗼𝗼𝗿𝗱𝗶𝗻𝗮𝘁𝗼𝗿 to support two impactful, grant-funded programs. This role works closely with the Small Business Development Center, helping expand outreach to new and existing entrepreneurs and small business owners, while also coordinating the WEDnet program to allocate funding for employee training needs. Reporting to the SBDC Director and based on the Clarion campus, this is a great opportunity to make a meaningful impact on local businesses and workforce development. Learn more and apply here: https://pennwest.peopleadmin.com/postings/1423

04/10/2026

Our clients with kiddos 10 & under have been applying for Trump Accounts. Start a retirement account now for your littles. Newborns born 2025 - 2028 will receive $1,000 towards their Trump Account from the Fed government. That $1,000 could turn into $6,000 at age 18, could be $15,000 at age 27, and could be $243,000 at age 55. ***Kiddos older than newborn up to 10 could receive $250.***

P.S. Chocolate? or Vanilla?

04/10/2026

We are here to help you through the tax season race...

03/31/2026

Small businesses...check this out...

Apply for the PA Fresh Food Financing Initiative

03/18/2026

Bring your small business, farming, and rental questions along with any other business related questions to me at 11 am. It's FREE!

🎉 Happy National SBDC Day! 🎉

We’re proud to support local entrepreneurs and small businesses across our region.

📣 Join us TODAY at 11 AM for our free “2026 Tax Talk w/Corry” Zoom Q&A! Register here - https://pasbdc.ecenterdirect.com/events/33190

03/18/2026

Every entrepreneur and farmer should have a relationship with a local PennWest Clarion SBDC business consultant. It FREE!!

03/11/2026

𝗧𝗵𝗲 "𝗧𝗿𝘂𝗺𝗽 𝗔𝗰𝗰𝗼𝘂𝗻𝘁" 𝗕𝗼𝗿𝗻 𝗯𝗲𝗳𝗼𝗿𝗲 𝟮𝟬𝟮𝟱
• 𝗪𝗵𝗮𝘁 𝗶𝘁 𝗶𝘀: A new type of savings account (like a "Starter IRA") owned by the child but managed by the parent/guardian until they turn 18.
• No $1,000 Bonus.
• 𝗧𝗵𝗲 $𝟮𝟱𝟬 "𝗗𝗲𝗹𝗹 𝗕𝗼𝗻𝘂𝘀": Age 10 and under (born roughly 2015–2024) qualify for a private $250 seed deposit from the Michael & Susan Dell Foundation.
o 𝗭𝗶𝗽 𝗖𝗼𝗱𝗲: Must qualify by ZIP code. Most zip codes surrounding Brookville have a median household income less than $150,000.
• 𝗛𝗼𝘄 𝘁𝗼 𝗴𝗲𝘁 𝗶𝘁: File IRS Form 4547 with the tax return to choose to open the account and claim the money.
• 𝗧𝗵𝗲 "𝗟𝗼𝗰𝗸" 𝗥𝘂𝗹𝗲: You cannot touch this money until the child turns 18.
• 𝗚𝗿𝗼𝘄𝗶𝗻𝗴 𝘁𝗵𝗲 𝗔𝗰𝗰𝗼𝘂𝗻𝘁: Parents, grandparents, employer can add more money later.
o The yearly contribution limit is $5,000 per year total.
o The money is invested in "All-American" stock market funds (like the S&P 500) so it can grow over the next 18 years.
• 𝗧𝗮𝘅 𝗕𝗲𝗻𝗲𝗳𝗶𝘁𝘀: You don't pay taxes on the growth every year. It grows "tax-deferred," meaning the tax isn't dealt with until the child takes the money out as an adult.
• 𝗪𝗵𝗮𝘁 𝗵𝗮𝗽𝗽𝗲𝗻𝘀 𝗮𝘁 𝟭𝟴? When your child turns 18, the account is theirs. They can use it for college, starting a business, buying a first home, or keep it for retirement.
• 𝗥𝗲𝗾𝘂𝗶𝗿𝗲𝗺𝗲𝗻𝘁𝘀: To sign up, the child must be a U.S. Citizen and have a Social Security Number before filing.
• 𝗧𝗶𝗺𝗲𝗹𝗶𝗻𝗲: File IRS Form 4547 now. Mid-2026 receive Activation Notice, log into www.TrumpAccounts.gov, receive $250. Watch for scams. Activation Notices will come directly from the U.S. Treasury and only point to a ".gov" website.

**Call us for more information**

03/11/2026

𝗧𝗵𝗲 "𝗧𝗿𝘂𝗺𝗽 𝗔𝗰𝗰𝗼𝘂𝗻𝘁" 𝗳𝗼𝗿 𝗡𝗘𝗪𝗕𝗢𝗥𝗡𝗦
• 𝗪𝗵𝗮𝘁 𝗶𝘁 𝗶𝘀: A new type of savings account (like a "Starter IRA") owned by the child but managed by the parent/guardian until they turn 18.
• 𝗧𝗵𝗲 $𝟭,𝟬𝟬𝟬 𝗕𝗼𝗻𝘂𝘀: Born between January 1, 2025, and December 31, 2028, the government will put a one-time $1,000 deposit into the account to get it started.
• 𝗛𝗼𝘄 𝘁𝗼 𝗴𝗲𝘁 𝗶𝘁: File IRS Form 4547 with the tax return to choose to open the account and claim the money.
• 𝗧𝗵𝗲 "𝗟𝗼𝗰𝗸" 𝗥𝘂𝗹𝗲: You cannot touch this money until the child turns 18.
• 𝗚𝗿𝗼𝘄𝗶𝗻𝗴 𝘁𝗵𝗲 𝗔𝗰𝗰𝗼𝘂𝗻𝘁: Parents, grandparents, and employers can add more money later.
o The yearly contribution limit is $5,000 per year total.
o The money is invested in "All-American" stock market funds (like the S&P 500) so it can grow over the next 18 years.
• 𝗧𝗮𝘅 𝗕𝗲𝗻𝗲𝗳𝗶𝘁𝘀: You don't pay taxes on growth every year. It grows "tax-deferred," meaning the tax isn't dealt with until the child takes the money out as an adult.
• 𝗪𝗵𝗮𝘁 𝗵𝗮𝗽𝗽𝗲𝗻𝘀 𝗮𝘁 𝟭𝟴? When your child turns 18, the account is theirs. They can use it for college, starting a business, buying a first home, or keeping it for retirement.
• 𝗥𝗲𝗾𝘂𝗶𝗿𝗲𝗺𝗲𝗻𝘁𝘀: To sign up, the baby must be a U.S. Citizen and have a Social Security Number before filing.
• 𝗧𝗶𝗺𝗲𝗹𝗶𝗻𝗲: File Form 4547 now. Mid-2026 receive Activation Notice, log into www.TrumpAccounts.gov, receive $1,000. Watch for scams. Activation Notices will come directly from the U.S. Treasury and only point to a ".gov" website.

**Call us for more information**

Trump Accounts provide eligible American children with tax-advantaged investment accounts courtesy of President Donald J. Trump.

02/27/2026

-Savings Accounts normally have sad interest rates.
-High Yield Savings Accounts operate the same yet have interest rates between 3 to 4%.
If you have a high yield savings account, tells us the name of the bank so everyone can make wise choices.