Schaus & Company, P.C.

04/18/2023

Our office will be closed
April 19-21, 2023

06/09/2022

New IRS Mileage Rates effective 07.01.2022 – The IRS just released new, adjusted mileage rates for travel beginning mid year 2022 effective July 1, 2022. Business Travel - 62.5 cents per mile and
Medical/Moving - 22 cents per mile.

01/15/2021

The IRS will begin accepting and processing 2020 individual tax returns on Friday, February 12th. It is later this year than in previous years, usually is in January, because additional time is needed to implement tax law changes from the Consolidated Appropriations Act which was signed into law on December 27, 2020.

04/15/2020

Want to check the status or need to provide direct deposit info for your Stimulus payment? The IRS has made it easy to do that by clicking the link below.

We’re committed to helping you get your economic impact, or stimulus, payment as soon as possible. See if you are eligible for an Economic Impact Payment.

11/14/2019

IS YOUR LLC IN GOOD STANDING? 🤔

LLC's registered in OK are required to file an Annual Renewal Certificate to remain in good standing with the state. Annual Certificates are due on the date the LLC was formed with the state plus a 60 day grace period. These must be filed each year along with a nominal fee. If you do not file the Annual Certificate your LLC becomes inactive and not in good standing. If you believe your LLC might not be in good standing, don't worry, the state has a reinstatement process.

11/06/2019

Did you know you might not be able to obtain or renew your passport if you have delinquent federal tax debt of $52,000 or more? If you have a valid passport, then the State Dept may revoke your passport or limit your ability to travel outside the U.S.

12/27/2017

Tax Cuts and Jobs Act - For individuals who normally itemize their deductions on Schedule A we are recommending that you prepay the second half of your real estate taxes and your fourth quarter state income tax estimates prior to 12/31/17. This is because, beginning in 2018 the deduction for taxes in general will be limited to $10,000. Please call us if you have any questions.

12/15/2017

IRS announces 2018 standard mileage rate. The 2018 rate is 54.5 cents per mile for business travel.

01/13/2017

Oklahoma Tax Commission Suspends 1099 Filing Requirement – The OTC issued the following notice January 11, 2017. “We’re listening to you. We understand submitting 1099s electronically will be difficult for many small businesses. Therefore, we are suspending ONLY the requirement for 1099 submission effective immediately. W-2 and W-3 submission is still a requirement.” The electronic filing of W-2s and the W-3 are still due February 28, 2017 unless the OTC makes other exceptions.

12/21/2016

2016 Tax Return Due Dates – For 2016 tax returns prepared and filed in 2017 the IRS has changed certain due dates. The biggest change is that 2016 partnership tax returns (Form 1065) will now be due March 15, 2017. This is a month earlier than normal. C-Corporations (Form 1120) which used to be due March 15th are now due April 15th. S-Corporations (Form 1120-S) are still due March 15th and Trusts and Estates (Form 1041) are still due April 15th.

12/13/2016

New IRS Mileage Rates for 2017 – The IRS just released the new mileage rates for travel beginning January 1, 2017. For Business Travel - 53.5 cents per mile, Medical/Moving - 17 cents per mile, and Charitable - 14 cents per mile.

12/09/2016

As the year winds down and tax season approaches, tax scams become more popular. We urge you to exercise caution if you receive emails or telephone calls indicating they are from the IRS. The IRS will NEVER call and demand immediate payment using a specific payment method such as prepaid debit/gift cards or wire transfers, initiate contact by email or text message, threaten to immediately bring in law officials to have you arrested for not paying, demand payment without the opportunity to question or appeal the amount, or ask for credit or debit card numbers over the phone. The link below is an article from the IRS detailing specific scams they are seeing and what to do if you are a target of a scammer.

IR-2016-164, Dec. 8, 2016 Español