Packard & Associates, CPAs

08/26/2019

Happy Monday to all our clients and fellow tax enthusiasts! How do you like to begin the week?

06/07/2018

Accounting Humor at it's finest! You are welcome.

05/18/2018

Even though tax season has ended, we are available for all your accounting needs!

04/18/2018

Update: Tax season is not over until tomorrow.

03/13/2018

Watch Out For These Tax Scams

Did you know that identity thieves can file a fake tax return in your name with only your Social Security number and birth date?

In 2016, there was a 400% increase in tax related phishing and malware attacks, and 969,000 potentially fraudulent refunds claiming up to $6.5 billion. You may be unaware that you’re a victim until you try to file your taxes and IRS tells you something’s wrong.

Here are four common scams to watch out for this year:

Phishing—Fraudsters send fake emails to trick would-be victims into sharing personal data. The real IRS would never initiate contact with you this way
Phone fraud—Identity thieves impersonate IRS agents. But, the real IRS states it will never call to demand immediate payment. You will first receive a mailed bill.

Tax preparer fraud—Use tax professionals? Watch out for emails that appear to be from them asking for private information. Delete and call your service directly.

Phony IRS agents visit your home—This scam often targets the elderly. Real IRS agents carry photo IDs, and will try to contact you before visiting.

02/27/2018

To those who have been waiting, refund processing began today for those claiming certain credits!

The Internal Revenue Service is beginning to release tax refunds for taxpayers who claim the Earned Income Tax Credit or the Additional Child Tax Credit after subjecting their tax returns to some extra scrutiny.

02/26/2018

The sun is out and it is another fabulous tax season Monday!

10/13/2017

The Social Security Administration said that the maximum amount of wages subject to the 6.2% Social Security tax in 2018 will rise a little more than 1%, after a much larger increase last year.

06/24/2017

NEW: Illinois rule change on cash basis audits for local governments. Details on our ICPAS State Legislative & Regulatory news web page: http://ow.ly/Na9i30cQu6P

06/22/2017

How much do you know about Social Security? Find out in this five-question quiz.

06/16/2017

Just a reminder if you get a call from someone claiming they are with the IRS.

The Internal Revenue Service (IRS) has issued a warning about a new telephone scam making the rounds.

06/01/2017

This could create major changes and hardships for small business....thoughts!?!

SPRINGFIELD, Ill. -- The Illinois House has approved a proposal that would raise the state's minimum wage to $15 an hour over five years. House lawmakers voted 61 to 53 Tuesday. Democratic state Rep. Will Guzzardi of Chicago says the plan would help working people make ends meet. Illinois' minimum w...