Whitepapers

Dear Clients and Friends:

Incredibly, 2013 is fast approaching its end. Although we, at POK, are barely past the extended return deadlines, there’s no time to sit back and relax because we’ve seen some startling developments within the government and know there are some big changes that could affect your 2013 Tax Return.

2012 began with great uncertainty over federal tax policy and now, with the end of the year approaching, that uncertainty appears to be far from any long-term resolution. A host of reduced tax rates, credits, deductions, and other incentives (collectively called the "Bush-era" tax cuts) are scheduled to expire after December 31, 2012.

Every person engaged in a trade or business, including partnerships and nonprofit organizations, must file information returns for each calendar year for certain payments made during such year in the course of the payor’s trade or business. The IRS requires 1096 and 1099 to be issued.