NEWSLETTER

    August 2010

  Office Hours

  IRS Notices

  Homebuyer Credit

  Exemption from SE

  Form 941

Our California office remains open year-round.  Someone is usually in the
office 30 hours a week.  The hours are flexible but I purposely staff the office
from 9 to 11 (California time) every Tuesday and Thursday so there are
specific hours that you can depend upon reaching someone.

If you receive a notice from the IRS or your state please contact our office
before you accept any changes.  This year we have noticed an increase in the
number of notices taxpayers are receiving and it appears that the changes
are incorrect more than 90% of the time.  Here are instructions on what to
do if you receive a notice:  http://ssfoundation.net/irs_notice.htm

Time has run out for the first-time home buyer credit.  If you do not have a
binding contract you can no longer qualify for this credit.  For those with a
binding contract the IRS has extended the deadline and you now have until
September 30, 2010 to close.

 

From time to time we receive phone calls from pastors who have filed Form
4361 and opted out of Social Security.  We know that many of you are
anxious to get back in.  There is currently no window for opting back in but
be assured that if a window does open we will do our best to spread the news.

We have noticed an increase in the number of churches receiving IRS notices regarding
the filing of their form 941’s.  All churches are required to file this quarterly report.  If the
church only employs a minister(s) be sure the box on line 4 is checked (If no wages, tips,
and other compensation are subject to social security or Medicare tax).

Sincerely,

James W. Rickard