Posey Tax & Accounting Services, LLC

03/25/2025

Interim Final Ruling Announced!

01/25/2025

09/16/2023

Some insider small business knowledge from Posey Tax & Accounting Services LLC.

09/15/2023

Your Friday tax fact from Evergreen Park based Posey Tax & Accounting Services LLC.

09/15/2023

Despite warnings from the IRS, AICPA, and other professional tax organizations many business owners are being misled into filing for the Employee Retention Tax Credit for which they do not qualify. As a result, the IRS on Thursday, September 14 announced an immediate moratorium through at least the end of the year on processing new claims.

Despite warnings from the IRS, AICPA, and other professional tax organizations many business owners are being misled into filing for the Employee Retention Tax Credit for which they do not qualify.

09/14/2023

Increasingly complex tax laws make it more likely that errors are made or items are omitted on tax returns, but they can, and should be, corrected by amending the return, generally within 3 years of filing the original return. In some cases, the IRS will catch the mistake; don't delay in replying to the IRS if you receive a correction notice or other inquiry about your return.

Generally speaking, tax return mistakes are a lot more common than you probably realize. Taxes have grown complicated and the paperwork required to file proper tax returns is often convoluted. This is especially true if you're filing your taxes yourself.

09/14/2023

In this article, we'll explore the multifaceted impact of rising interest rates on start-up fundraising and delve into strategic approaches to navigate this shifting landscape.

09/13/2023

Wednesday Wisdom and Posey Tax & Accounting Services LLC = Success

09/12/2023

Unclaimed accounts from financial institutions, companies, and other sources are turned over to state unclaimed property departments if the owner can't be contacted and after a period of time as prescribed by state law. You may wish to check whether you have any lost accounts. Search "unclaimed property" on the Internet. The average claim is in excess of $800. Good luck!

Unclaimed property refers to accounts in financial institutions and companies that have had no activity generated or contact with the owner for a period of one year or longer (depending upon state law). It is estimated that one out of ten Americans have unclaimed property or money floating around so...

09/11/2023

Getting a letter from the IRS can make some taxpayers nervous - but it does not necessarily mean you are in trouble. Watch this video for quick tips on how you should handle this.