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May 2021 Client Bulletin

May Client Bulletin
May Client Line


TAX RETURN FILING DATE
Just a reminder that the deadline to file your 2020 Federal and Pennsylvania state tax returns is May 17, 2021. The original filing date of April 15, 2021 was extended by the IRS. If you still need to provide us with your tax information, call us at 215-368-5755 or drop off your documents into our secure mail slot outside the office.

FROM THE DEPARTMENT OF LABOR AND INDUSTRY
Fraudulent claims filed via identity theft are on the rise nationally in an unprecedented way. Here are some warning signs that a fraudulent unemployment claim was filed involving you or your company:
• You receive paperwork/notice for an employee who never worked for you. We hear employers say: “I don’t know why this person would have entered me as their employer, I never heard of this person.” The answer is: because it probably wasn’t a person, it was probably a robot filing multiple claims at a time and choosing random Pennsylvania employers. Mark “Never worked here” on the form and send it back to us per the enclosed instructions.
• You receive paperwork/notice for an employee who is fully employed by you. Talk to the employee to ask if he/she opened a claim. Most times, they have no idea this is happening and are unaware that their identity is being used by a fraudster. If they did not file the unemployment claim, instruct the employee to report the fraud to us using the Report Fraud link on our website.
• You receive paperwork for yourself. Your identity was stolen and you should report the fraud to us using the Report Fraud link on our website.

If you do receive paperwork, it does not necessarily mean that payments have or will be made on that claim. Regardless, it is important for you to report it to the PA Unemployment office as soon as possible.

IRS DELAYS TAX REFUNDS
Because of the late passage of the Consolidated Appropriations Act, the IRS announced that they are delaying tax refunds. The agency couldn’t adjust its tax forms and computer systems in time before the start of the filing season to allow for efficient processing of tax returns where taxpayers elected to use their 2019 income for claiming some tax breaks. Millions of tax returns now need to be manually processed by the IRS’s Error Resolution System unit, and the IRS is placing those returns in “suspense” until an IRS employee is able to review them in order to verify the 2019 income or the prior Economic Impact Payment. Currently, there are approximately 8 million returns in the “suspense” stage until a review and manual processing can take place. Stay tuned!

MAY 31, 2021 OUR OFFICE WILL BE CLOSED
Memorial Day is a day of remembering the men and women who died while serving in the United States Armed Forces. Formerly known as Decoration Day, it originated after the American Civil War to commemorate the Union and Confederate soldiers who died. By the 20th century Memorial Day had been extended to honor all Americans who have died in all wars. It marks the start of the summer vacation season. Monday, May 31st our office will be closed.