Fiscal Fitness 2004

first_imgIf you have to pay for help, shop aroundWhen you use a paid tax preparer, expect to pay a fee. Thisvaries greatly from one provider to another. It pays to shoparound.The fee you pay will also depend on the complexity of yourreturn, the number of forms required and any extra schedulesneeded. Most paid preparers will also charge for electronic filing,typically $10 to $15. Electronic returns are processed muchfaster than paper returns. A refund from a return electronicallyfiled on Thursday of this week will generally post to youraccount by Friday of the following week if you designate it as adirect deposit.Many companies now promise to give you your tax refund on thespot. These refund anticipation loans may sound like a good ideabut these short-term loans are an expensive way to get yourrefund. With electronic filing and direct deposit, the IRS will deposityour refund into your bank account within seven to 10 days. Itdoesn’t make good financial sense to spend several hundreddollars to get your refund a few days earlier.Whether you pay for your tax return or do it yourself, alwayschoose electronic filing with direct deposit of your refundinstead of a high-cost refund-anticipation loan. Free tax help may be availableBefore you pay someone to prepare and file your tax return, findout if you’re eligible for free tax help. The Volunteer IncomeTax Assistance program provides volunteers trained by the IRS toprepare, and in most cases, electronically file returns. Theseservices are free in most cities and in many rural areas. The VITA program targets people eligible for the Earned IncomeTax Credit. These are working families with children andhousehold income less than $34,500. Call 1-800-829-1040 for theVITA site nearest you.Senior citizens can often get free help preparing and filingtheir returns through the AARP Tax Counseling for the Elderlyprogram. TCE will usually prepare returns for EIC-eligiblehouseholds and senior citizens. The IRS can help you find a TCEsite near you.If you’re not a senior citizen and earn too much for VITA, youcan either prepare and file your own tax return or pay for help.Options range from professional accountants to commercialpreparation chains with in-house training. By Michael RupuredUniversity of GeorgiaAs tax season rolls around, many people begin to look for help toprepare and file their returns. Some prepare their own returns.But most turn to local tax services and pay to have their taxesfiled. When you shop for tax preparation services, remember that not allservices are alike. Comparison shopping can save you money bothin the fees you pay for the service and the amount of taxes youowe or the refund you’re due.last_img read more

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Governor Wolf Lauds Revenue’s Online Innovation for Businesses and Tax Professionals

first_img SHARE Email Facebook Twitter Governor Wolf Lauds Revenue’s Online Innovation for Businesses and Tax Professionals September 08, 2016center_img Efficiency,  Government That Works,  Innovation,  Press Release Harrisburg, PA – Governor Tom Wolf today praised the Department of Revenue for developing new innovative technology that is enabling businesses and tax professionals to access their expanded tax account information easier and faster while improving efficiencies for businesses and the department.“Businesses and tax professionals have been requesting online access to their tax account information with more details and the Department of Revenue delivered,” said Governor Tom Wolf. “Making statements of account available electronically will help all businesses – especially small business owners – get their tax information quickly so they can spend more time with their customers and clients.”Through this innovation, business taxpayers and tax practitioners using the department’s business tax system, e-TIDES, can request electronic delivery of their statement of account and receive a PDF in their e-TIDES account the next business day. A video overview of the new self-service feature is available here.Previously, taxpayers could only obtain a simple hardcopy summary after making a request in writing or by phone. Department staff would print and mail the document – which could be hundreds of pages long. Expenses surpassed $100,000 annually when the process was limited to reduce costs. Revenue Secretary Eileen McNulty made addressing the issue a top priority.“Businesses and tax practitioners want and need timely access to their tax information which they can now get through the electronic statement of account,” said Secretary of Revenue Eileen McNulty. “Our new feature was tested and vetted with the help of several tax practitioner organizations to ensure the complex and complicated project delivers the necessary information they need. I thank all of those involved for their support to help make this new tool a reality.”Launched August 1, eligible taxpayers can submit the request through e-TIDES and the electronic statement will arrive in the Document Center the next business day. The self-service feature provides more information than ever before. More than 40 types of taxes including corporate net income, sales, use, employer withholding and other business taxes are available.“The best part is the department worked with taxpayers and tax practitioners to develop this new tool,” said Jason Skrinak of Reinsel Kuntz Lesher LLP, Certified Public Accountants and Consultants, and a member of the Pennsylvania Institute of Certified Public Accountants. “It’s fast and easy to use while providing comprehensive tax information which is important to keep a client’s account with the department up-to-date.”The new electronic statement provides a summary of the taxpayer’s account including the three most recent tax periods that have been filed, non-filed tax periods, and tax periods with open liabilities, payments or credits, grouped by tax type. Additional sections show tax periods under appeal, unused restricted credits, and W2 annual reconciliation, if applicable. Detailed account information is below the summary.Security is always an important need for the department. To protect taxpayer information, businesses and tax practitioners must be registered with e-TIDES to request an electronic statement of account. Additionally, tax practitioners must be granted access by their client. The exact steps vary by account.Like Governor Tom Wolf on Facebook: Facebook.com/GovernorWolflast_img read more

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Cash-focused Gamesys sanctions £40m debt repayment

first_img Share Related Articles Enlarged Gamesys returns to UK growth eyeing FTSE250 spot  March 17, 2020 Share Submit StumbleUpon Gamesys halts UK advertising during lockdown April 23, 2020 Affiliate leaders confirmed for CasinoBeats Malta 2020 February 21, 2020 Gamesys Group Plc has sanctioned a £40 million repayment of its GBP corporate debt to rebalance the firm’s accounts and allow for stronger cash generation. The approved transaction sees Gamesys lower its long-term GBP corporate debt by 15%, resulting in an outstanding debt reduction of 7% for its combined GBP and EURO tranches.Gamesys governance underlined that the significant debt repayment forms part of the operator’s long-term strategy, delivering a better cash-generating enterprise for its investors. In its latest trading statement, Gamesys reported that its corporate net debt figure stood at £485 million, reflecting a net leverage ratio of 3x versus company EBITDA.“As we’ve stated previously, a key strategic goal for the board is to have our long-term leverage ratio in-line with our peers, which is currently in the range of one to two times adjusted earnings before interest, tax, depreciation and amortisation,” said CFO Keith Laslop. “Our significant cash generation allows us to rapidly de-lever and today’s paydown is an important first step in attaining that goal.”Gamesys is set to publish its full-year earnings results on Tuesday 17 March. Closing January trading, Gamesys issued a trading notice detailing confidence that the firm’s earnings would reflect the upper end of market expectations.last_img read more

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