Payday Masters

01/24/2025

FYI, the Supreme Court has just reinstated the BOI reporting requirement, overturning the preliminary injunction in place last month by a U.S. District Court in Texas. Any entity that has not yet complied with this law is required to do so at this time.

If you haven’t filed it yet, best get it done. If you need any assistance, our firm VC Comsulting Services / Payday Masters can help!

07/12/2023

COVID-19 Pandemic EIDL and PPP Loan Fraud findings by the Office of Inspector General is astounding!!
- Out of the $1.2 Trillion in EIDL and PPP Loan program aid sent out, it's estimated that over $200 Billion in potentially fraudulent loans was disbursed!!!

Read the entire white paper here:

The U.S. Small Business Administration (SBA) Office of Inspector General (OIG) conducted this review to provide a comprehensive estimate of the potential fraud in the U.S. Small Business Administration’s (SBA) pandemic assistance loan programs. Over the course of the Coronavirus Disease 2019 (COVI...

03/30/2023

BEST in the Biz!
Ronnie Lubischer & Anna Lubischer at
Burn and Blast 24 Hour Gym

03/28/2023

IRS provides extensions for filing requirements to individuals and businesses affected by the recent Mississippi Storms:

04/07/2022

What’s next? IIRS criminal investigators following the blockchain (following the money, as always!)

The users of the largest known child s*x abuse site in history thought their bitcoins were untraceable. They couldn’t have been more wrong.

01/02/2022

Do yourself a favor and read this amazing article now as we move dive into 2022!

While it was certainly a bit depressing to miss one of the few remaining Christmas mornings that my kids will find magical, I cherished the time with my pup.

09/30/2021

Have you received a scare letter form the IRS this month in regards to the Recover Rebate Credit (RRC) and a possible "math error"??
No worries! Just follow the instructions to call the number on the notice and get to a representative who will let you know exactly what is missing (if anything) and if there is an actual error on your return (or one that the IRS has committed)! You have 60 days from the date of the letter to call them, so hop to!

Here's a good article to walk you through it:

Tax changes like the ones brought by last year’s stimulus payments often trigger a surge in such problems; addressing them can lead to headaches for taxpayers

09/10/2021

BEWARE!! Phishing and Identity Theft Scam Alert!!

Today, September 10th, Many people will look at their bank accounts and notice a née deposit from the IRS linked to ongoing stimulus payments. You may not have received one abd you’re thinking “where’s mine?”

Then you receive an email from the IRS that looks like the photo below.

The IRS, however, will never email you like this abd will never have a link or button to click on to submit something or request your private info in this manner.

DO NOT click any buttons or links if you receive any emails like this. They are scams and emails with malicious code designed to download abd secretly install malware on your computer, phone or tablet, and ultimately steal your info or install randsomware on your device.

Be vigilant and be skeptical to avoid becoming a victim of cybercrime!!

PayDay Masters offers full-service Bookkeeping, Payroll, Tax Planning and Preparation, Business Accounting, Advisory and other critical services. We partner on 360° solutions that support and grow your business. We help you turn chaos into confidence and get where you want to go. Master Small Busin...

03/14/2021

Stimulus payments are rolling out from this weekend so check your bank accounts to see if and when you get them if you qualify!

Also some more good news!! The IRS is reviewing plans to implement the the exclusion of $10,200 in 2020 unemployment income received! Great news for people who were receiving unemployment and were worried about the coming tax bill for this added income!

Details can be found here:

f your modified adjusted gross income (AGI) is less than $150,000, the American Rescue Plan enacted on March 11, 2021, excludes from income up to $10,200 of unemployment compensation paid in 2020, which means you don’t have to pay tax on unemployment compensation of up to $10,200.

02/17/2021

Sad to say that the real victims here, the American Taxpayer, will be on the hook for the misappropriated and misspent/stolen relief funds and false unemployment claims for decades to come! Sad, but not surprised at all...

A senior federal law enforcement source said the fraud is so complex and multilayered that it will take months to develop a full accounting.