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Davis & Hylton

Accounting & Tax Service, PLLC

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12/1/2014 - We would like to remind all of our friends, family, and clients that next week is Client Appreciation Week! Come see us during regular business hours any day next week for snacks, gifts, and a chance to win 2 tickets to the UK vs TN basketball game in February!





11/21/2017 - Happy Thanksgiving to all of our friends, family, and clients!Our office will be closing at 12pm on Wednesday, November 22, 2017 and will be closed on Thursday, November 23, 2017 and Friday, November 24, 2017. We will reopen at 8:30am on Monday, November 27, 2017. We apologize for any inconvenience this may cause.



11/15/2017 - Open Enrollment :Just a reminder to all of our friends a clients that open enrollment for health insurance runs from November 1, 2017 through December 15, 2017. Don't forget to enroll!



5/18/2017 - Position Openings:

Administrative Assistant
Professional Accounting & Tax office seeking  full-time administrative assistant. Duties include but are not limited to invoicing, receiving payments, processing mail, faxing, scanning, and scheduling appointments. This position will be the first point of contact for all clients - answering phones and greeting clients in the office - as well as, a support role to all other staff. Administrative assistant must possess strong organizational skills and attention to detail, as they will often be the liaison between the partners and staff. Basic Quickbooks & Office 365 knowledge preferred, but not required. Position may include light cleaning, running errands, and additional tasks as needed. If interested, please hand deliver resume to front desk at  125 Clay Drive, Suite B, Berea, KY 40403 Monday through Friday 8:30am - 4:30pm. Please no e-mails or phone calls. 

 

 

Long-term Temporary Part-Time Tax Return Processor/Assistant
Professional Accounting & Tax office seeking Long-term Temporary Part-Time Tax Return Processor/Assistant. This position will average 1-2 partial days per week during the months of May through December. During the months of January through April hours for this position will increase to 5 days per week at up to 6 hours per day. Specific hours can be negotiated. Duties include but are not limited to organization and assembly of tax returns, scanning client documents, invoicing, and contacting clients. Processor/Assistant will work directly with partners to ensure follow-up on missing tax information and appropriate placement of new information received. If interested, please hand deliver resume to front desk at  125 Clay Drive, Suite B, Berea, KY 40403 Monday through Friday 8:30am - 4:30pm. Please no e-mails or phone calls.






12/21/2016 - Our office will be closed the following days for the holidays:
                                    - Friday, December 23, 2016
                                    - Monday, December 26, 2016
                                    - Monday, January 2, 2017
                     We apologize for any inconvenience this may cause.



12/21/2016 -
The IRS now plans to begin private collection of certain overdue federal tax debts next spring and has selected four contractors to implement the new program. The new program, authorized under a federal law enacted by Congress December 2015, enables these designated contractors to collect, on the government’s behalf, outstanding inactive tax receivables. As a condition of receiving a contract, these agencies must respect taxpayer rights including, among other things, abiding by the consumer protection provisions of the Fair Debt Collection Practices Act. The IRS has selected the following contractors to carry out this program:


CBE Group
1309 Technology Pkwy
Cedar Falls, IA 50613


Conserve
200 CrossKeys Office park
Fairport, NY 14450


Performant
333 N Canyons Pkwy
Livermore, CA 94551


Pioneer
325 Daniel Zenker Dr
Horseheads, NY 14845


For more information on this change, please CLICK HERE



11/16/2016 -  We look forward to seeing you all there!

                




11/11/2016 -For those of you wishing to get a jump on your 2016 taxes, we have posted a tentative version of our 2016 Personal and Business tax packets. Feel free to print these off, fill them out, and bring them in when you drop off the rest of your information or, as always, we will have them in the office for you to fill out. Remember, these packets are essential to our process and all clients are required to fill them out every year. If you have any questions or need to do any year end planning, please contact us at 859-986-1717. Thank you and we look forward to seeing all of you!

Click here to access the 2016 Tax Packets





6/27/2016 - Come see us at our new location: 125 Clay Drive, Suite B, Berea, KY 40403!

               

             

                                                         




6/7/2016 - We have some exciting news!

                 



5/5/2016-IRS PHONE SCAM HITTING LEXINGTON HARD



4/6/2016 - BEWARE! Scammers are at it again! We were alerted to a phone number today (202-552-5198) that left a message for a client saying that there had been a miscalculation on their tax return and to call them immediately. The IRS will not call you, they will send letters instead. If you receive one of these calls, do not give the caller any information and end the call immediately. Be safe, friends.



3/24/2016 -5 Records Required for Every New Hire

In order to comply with certain federal and state laws, employers must complete certain paperwork when bringing a new employee on board. Below is an overview of what new hire forms are required:


Notice of Coverage Options:
Under the Affordable Care Act (ACA), employers must provide a Notice of Coverage Options ("Notice") to all new hires. The purpose of the Notice is to inform employees of the availability of the Health Insurance Marketplace ("Marketplace") created in accordance with the ACA. All employers subject to the Fair Labor Standards Act (virtually all employers) must provide the Notice, regardless of whether the employer offers health coverage. The Notice must be provided in writing and may be hand delivered, sent by first-class mail, or sent electronically as long as the U.S. Department of Labor's electronic disclosure safe harbor rules are met. See 29 CFR 2520.104b-1(c), Disclosures through Electronic Media. The Notice must include: Information about the services provided by the Marketplace; How to contact the Marketplace; Information about the employer, including any employer-sponsored health coverage available; The potential impact on the employee if he or she purchases coverage through the Marketplace; and Information the employee will need to gather in order to apply for coverage through the Marketplace.
Note for ADP Clients: ADP makes the Employer Notice of Coverage Options letters available to you in the RUN Powered by ADP® Support Center. The version of the letter you provide to your employees will depend on whether you currently offer insurance coverage and the type of coverage you offer.

Form I-9:
Employers must complete a Form I-9 for each newly hired employee. The form is used to confirm that the employee is authorized to work in the United States. Complete Section 1 of the form by the end of the employee's first day of work and complete Section 2 within 3 business days. While you can complete the I-9 before the employee's start date, you must wait to do so until after the employee has accepted the job offer. Retain I-9 forms for at least three years, or for one year following the employee's separation from the company, whichever is later.

New Hire Reporting:
Federal law requires that employers submit certain information to their state regarding each new hire. Under federal law, employers generally must report new hires within 20 days of the employee's start date, but several states have shorter timeframes. Check your state's new hire reporting requirements to confirm compliance. All employers must comply with new hire reporting requirements. To fulfill federal new hire reporting responsibilities, employers must report: their company's name, address, and federal Employer ID Number; and the employee's name, address, Social Security Number, and date of hire. Employers have several options for reporting new hires, including submitting the new hire's W-4 or an equivalent form.
Note: Some states may require employers to use a particular reporting method, such as electronic reporting. Check your state's new hire reporting program for requirements and options.

Form W-4:
All new employees must complete a federal Form W-4. This form tells the employer how much federal income tax to withhold from the employee's pay. Some states also require a tax withholding form. Check your state law to ensure compliance. Employers should ask each new hire to complete a W-4 by the end of the employee's first day of work. Retain W-4s for at least 4 years.

State-Required Forms:
Many states also require that employers provide specific notices to new employees at the time of hire. For example, California requires employers to provide new hires with notices on state disability insurance, paid family leave, workers' compensation, and wage theft prevention laws, among other topics. Review applicable state law and provide new hire notices in accordance with your state's requirements.

Optional Forms:
In addition to the required forms listed above, it is a best practice to have new employees complete emergency contact forms, handbook acknowledgments, receipts of company property (e.g. laptop, building keys, etc.), and payroll authorizations (e.g. direct deposit) by the end of their first day of work.

 




3/17/2016 - We would like to make everyone aware of this "IRS" Phone Scam. Should you receive one of these calls, do not provide the caller with any information. Hang up and report the call to the authorities immediately.




2/19/2016 -
Using this link, social security beneficiaries can:

- Get a benefit verification letter
- Check their benefit and payment information and their earnings record
- Change their address and phone number
- Start or change direct deposit of their benefit payment
- Get a replacement SSA-1099 or SSA-1042S

Replacement forms can also be ordered by calling 1-800-772-1213 Monday through Friday 7:00 am - 7:00 pm or contacting their local social security office.





1/18/2016- Many of you may have received an IP PIN letter from IRS that refers to an incorrect tax year.  IRS announced there was an error in these letters.The incorrect letters are dated January 4, 2016, and should be received by you between mid-December and mid-January.  The letter tells you the IP PIN is good for filing your 2014 returns.  It should have said the IP PIN is good for filing your 2015 returns.There was no mention of IRS remailing the letters to show the correct year.  IRS did apologize for this confusion and any inconvenience. Some of you might have tossed the letters since you had already filed your 2014 returns a year ago.  Unfortunately, those of you who threw out the letter and no longer have a valid IP PIN for 2015 will likely have to suffer a delay in getting your returns processed and refunds issued while IRS verifies their identity. Please remember to contact our office any time your receive communications from the IRS or state before taking any action. 



1/14/2016- PLEASE BE ADVISED- Due to changing tax laws, Davis & Hylton will be requiring EVERY client to fill out information packets when filing their 2015 tax returns. In an effort to make this as convenient as possible for our clients, we are posting the forms online so that you may fill out the packets prior to visiting our office. These packets can be found at the links below.

2015 Business Tax Packet
2015 Personal Tax Packet




12/22/2015 - Merry Christmas and Happy New Year from Davis & Hylton Accounting! Our office will be closed December 23-25 for Christmas and closed December 31 & January 1 for New Year's. We apologize for any inconvenience this may cause. We hope you all have fun and safe holidays!





12/18/2015 - House Poised To Pass Tax Cuts



12/7/2015 - Congratulations to the winner of the UK vs EKU tickets - Lowell Sellards! And thank you to all of our wonderful clients who came out to see us for Client Appreciation Day!



11/12/2015 - Attention Clients: If you currently use ADP for your payroll and you receive a letter that looks similar to this regarding Labor Law Posters, please know that you are entitled to those posters for free through your payroll provider. Do not purchase these posters. Please contact our office with any questions or concerns at 859-986-1717.






9/24/2015 - To those who filed for an extension on their 2014 tax returns: We would like to remind you that all individual tax returns are due October 15th. In order to ensure the timely completion of your returns, your information must be submitted to us no later than October 1st. Failure to submit information by this deadline may result in additional fees. Please contact our office if you have any questions or need to make an appointment. Thank you!



9/17/2015 - The way you pay with a credit card will start to change October 1, so here's what you should know...



8/31/2015 - To those who filed for an extension on their 2014 tax returns: We would like to remind you that most Limited Liability Company, corporate, and partnership tax returns are due September 15th. All individuals who filed for extensions will have tax returns due October 15th. In order to ensure the timely completion of your returns, your information must be submitted to us no later than September 1st for LLC's, corporations, and partnerships or October 1st for individuals. Failure to submit information by these deadlines may result in additional fees. Please contact our office if you have any questions or need to make an appointment. Thank you!




3/28/2015 - Just a reminder of a couple of upcoming deadlines & related information!


                  April 1, 2015 - Partnership & Individual Tax Return Information Due to Davis & Hylton

                  April 15, 2015 - Partnership & Individual Tax Returns Due
                                            First 2016 Estimated Payments Due

Please remember that, due to changing IRS requirements, we will now require the submission of bank statements for all business tax returns, including schedule "C" businesses.
We would also like to remind you that most Limited Liability Company and corporate tax returns are due March 15th. All individual and partnership tax returns are due April 15th. In order to ensure the timely completion of your returns, your information must be submitted to us no later than March 1st for LLC's and corporations or April 1st for individuals and partnerships. Failure to submit information by these deadlines will result in filing an extension or additional fees.



2/26/2015 - Just a reminder of a couple of upcoming deadlines & related information!

                  March 1, 2015 - MOST Limited Liability Company & Corporate tax return
                                             information due to Davis & Hylton

                  March 15, 2015 - MOST Limited Liability Company & Corporate tax returns due

Please remember that, due to changing IRS requirements, we will now require the submission of bank statements for all business tax returns, including schedule "C" businesses.
We would also like to remind you that most Limited Liability Company and corporate tax returns are due March 15th. All individual and partnership tax returns are due April 15th. In order to ensure the timely completion of your returns, your information must be submitted to us no later than March 1st for LLC's and corporations or April 1st for individuals and partnerships. Failure to submit information by these deadlines will result in filing an extension or additional fees.



1/14/2015 - IRS cuts taxpayer services as filing returns gets harder



1/12/2015 - 6 Things To Do In January To Prepare For Tax Time


1/6/2015 - Hylton Earns Enrolled Agent Status

Kandi Hylton of Davis & Hylton Accounting & Tax Service PLLC recently accomplished the Enrolled Agent(EA) status.

 An enrolled agent is a person who has earned the privilege of representing taxpayers before the Internal Revenue Service by passing a three-part comprehensive IRS test covering individual and business tax returns. Enrolled agent status is the highest credential the IRS awards. Individuals who obtain this elite status must adhere to ethical standards and complete 72 hours of continuing education courses every three years.

Enrolled agents, like attorneys and certified public accountants (CPAs), have unlimited practice rights. This means they are unrestricted as to which taxpayers they can represent, what types of tax matters they can handle, and which IRS offices they can represent clients before.

NAEA states that Enrolled agents are considered America's Tax Experts.





12/30/2014- PLEASE BE ADVISED- Due to changing tax laws, Davis & Hylton will be requiring EVERY client to fill out information packets when filing their 2014 tax returns. In an effort to make this as convenient as possible for our clients, we are posting the forms online so that you may fill out the packets prior to visiting our office. These packets can be found at the links below.

2014 Personal Packet

2014 Business Packet



11/25/2014 -
                                                       



11/13/2014 - IRS Commissioner Predicts Miserable 2015 Tax Filing Season



11/10/2014 - Scam Phone Calls Continue; IRS Unveils New Video to Warn Taxpayers



11/3/2014 - Here Are the Companies That Have Been Hacked — And What to Do If You’re a Customer



9/22/2014 - Here's How Unfair The Tax System Is In Each State



9/10/2014 - Home Depot (HD) Hack Could Be Biggest Card Breach Ever



9/2/2014 - IRS calling? Nope. It's a scam



8/25/2014 - Tax Refunds May Get Hit Due to Health Law Credits



8/15/2014 - 9 Money Habits That Will Put You On The Path To Wealth



8/8/2014 - Davis Receives "Fellow" Distinction

For several years, Stephen E. Davis, partner at Davis & Hylton Accounting & Tax Service, PLLC in Berea, Kentucky, has been a member of the National Association of Enrolled Agents that specializes in representation work. These Enrolled Agents (EA's) are America's tax experts. Their members are the only federally licensed tax practitioners who specialize in taxation and have unlimited rights to represent taxpayers before the Internal Revenue Service.

Last summer, Davis began his quest to become a member of an even more elite group within the NAEA organization, the National Tax Practice Institute (NTPI) Fellows. NTPI awards the "Fellow" distinction to Enrolled Agents who successfully complete three levels of extensive study in representation of clients before the Internal Revenue Service. These NTPI Fellows are considered the top specialists in representation before the IRS.

Davis attended the first level of the program in August 2013 in Las Vegas, Nevada. In December 2013, he attended the second portion of the program and graduated from the NTPI leadership academy in Orlando, Florida. This month, Davis attended the National Association of Enrolled Agents Conference in Las Vegas, Nevada  for the third portion where he was awarded the high distinction of NTPI Fellow.

For more information on NTPI Fellows or the NAEA, please visit their website at www.naea.org.

If you are in need of representation before the IRS, please contact Steve Davis at 859-986-1717 or steve@davishylton.com





7/11/2014- Improper payments by federal government top $100B



6/30/2014 - IRS Announces Voluntary Certification Program for Tax Preparers



6/30/2014 - Offshore Tax Crackdown Opens With 30% Penalties for Banks - Bloomberg




6/18/2014 - You may owe the IRS $10,000- click here to find out why



6/16/2014 - AT&T Suffers Data Breach



5/27/2014 - Steve’s notes on “Where to invest Now for Safety and Income”




5/22/2014 - Please click here take our survey for a CHANCE TO WIN your choice of a $150 Lowes or Kohls gift card! Surveys must be completed by Friday, June 6, 2014. Drawing will be held on Monday, June 9, 2014.



5/22/2014- eBay Hacked, Urges All Members to Change Passwords Immediately



4/23/2014- This is One Social Security Document You Don't Want to Toss



4/21/2014 - IRS Seizing Tax Refunds of Children, Grandchildren Over Parents' Decades-Old Debts



3/24/2014 - Saving for a House: It's More Than a Down Payment



3/21/2014 - Largest-ever U.S. tax-fraud phone scam targets thousands: IRS watchdog



10/29/2013 - Don't forget to stop by our office on Thursday 10/31/2013 (Halloween night) between 6pm and 8pm. We will have candy for the little goblins..........and maybe a treat for the parents............
Have a safe & happy Halloween!!!!



10/28/2013 -   Contact us today to book your spot!






10/23/2013 - IRS News Release



10/11/2013 - The Search For Unreported Income



9/6/2013 - Gratuities Added for Large Groups Will Be Now Taxed as Service Charges




9/4/2013 - Tighter Mortgage Rules to Take Effect in 2014



7/26/2013 - Ten Midyear Tax Moves to Make Now




6/24/2013- Attention Pikeville/Prestonsburg/Paintsville/Salyersville, KY Areas:
 
                     



5/14/2013 - Be Aware of These 12 IRS Audit Triggers



5/14/2013 -
You can now use this link to check amended return statuses!

http://www.irs.gov/Filing/Individuals/Amended-Returns-(Form-1040-X)/Wheres-My-Amended-Return-1



4/19/2013 - New Services at Davis & Hylton Accounting

Now that tax season has passed, Davis & Hylton would like to announce some new enhancements to our services that might be beneficial in saving tax costs and easing the burden of record keeping for our clients and potential clients:

  • Quarterly review of accounting records in an effort to provide tax strategy, advice, and find ways earlier in the year to minimize the taxes being paid without waiting until year end when it may be too late to plan.
  • Current Quickbooks users and those who are interested in using Quickbooks can now receive training on-site, in our office, or remotely.
  • Quickbooks users or those interested in using Quickbooks who do not have someone to use the program or time to learn themselves, can now take advantage of on-site bookkeeping to get started or caught up on record keeping. In some cases, this service can also be done by bringing information to our office or remotely.
  • For those who currently handle their own payroll and would like for us to fill in while you are away or on vacation, we can provide these services on-site, in our office, or remotely.

The bottom line is we want to be available to you, for what you need, at a rate you can afford!


Depending on the service and needs, we have a very reasonable fee structure for all of the aforementioned services. Contact our office for a consultation and evaluation of your needs.



4/19/2013 - First Quarter Tax Changes 2013