Author Archives: barbreeves

Cash payments more than $10,000.00 must be reported to the IRS within 28 days of receiving the money. This includes cash payments from same individual/business even if received multiple amounts (totaling $10K or more) within a 24 hour period for the same transaction. Furthermore, cash amounts less than $10,000.00, if suspicious, must also be reported.Continue reading “REPORTING CASH PAYMENTS OF $10,000 OR MORE”

Corporate Transparency Act Effective January 1, 2024 for new entities and January 1, 2025 for existing entities.  Existing entities in 2024 that dissolve before the deadline will still need to file. This Act was enacted as a part of the Anti-Money Laundering Act of 2020. This will be filed with the US Department of theContinue reading “More filing requirements”

I have been required to establish a Written Information Security Policy (WISP) by the enactment of the Gramm-Leach-Bliley Act through the Federal Trade Commission. I have attached a link for the Publication 5708 provided by IRS to assist any of you that might be affected by this as well. Personally, I think it is aContinue reading “WRITTEN INFORMATION SECURITY POLICY”

Please note new email address, taxes@barbarareevesaccounting.com I have changed to a secure (paid for) service as required by the government.   When transmitting documents, I still prefer sendinc.com, but just in keeping all correspondence secure, I decided on this service attached to my website as well.   Please make note.  I will check old account periodically, but eventuallyContinue reading “NEW EMAIL ADDRESS”

This is my annual nagging about updating business annual minutes. If you have any questions, let me know.

I could not be anymore grateful for this email from the IRS today. I have been contacted many times from clients that are terrified about owing taxes for which they received a phone call. It takes much of my time to calm them and reassure them that it was just a scam. The following informationContinue reading “WHEN AND HOW AN IRS AGENT WILL CONTACT YOU AND HOW TO RECOGNIZE AND REPORT SCAMS”

In preparation of this upcoming tax year: Long term capital gains tax: If you have any questions, give me a call.

Today is the deadline for taxes. You either file your taxes or request an extension.  This is also the deadline for paying any taxes owed, as extensions do not extend the paying of taxes.  At the very least, every effort should be made to pay as much as possible to reduce the liability at theContinue reading “TAX DEADLINE APRIL 18 2023”