Taxes

Taxes are due TODAY – April 15, 2013!  Don’t forget to file.  The IRS offers many FREE and low cost options to tax payers.  Check them out.

Can’t file?  File an extension.  The IRS released some great information on extensions and what you have to do.  Hint…owe money?  You still have to pay if you file an extension!

 

An expatriate employee is an individual working and living in a country other than their country of origin.  The terms expatriate and immigrant are closely related, but differ in the general context of how they are described.

Persons entering the United States from other countries seeking permanent residence are generally classified as immigrants.  Expatriates are usually deployed for business purposes for the convenience of an employer.  Length of service in a different country does not usually exceed 5 years.  Employees spending time in a foreign country in excess of 5 years, run the risk of becoming “de-facto” to the host country.  In this case the labor and wage laws of the country they are residing in can override the protection from their country of origin.  Expatriate employees are also referred to as a PCN or parent-country national.

Expatriate employees customarily enjoy the benefit of excluding some of their foreign earned income and housing costs from taxation. To qualify, they must pass one of two tests:  The bona fide residence test or the physical presence test.  Bona fide residence consists of a full tax year of uninterrupted habitation in the foreign country.  Physical presence calls for an individual to be present in a foreign country for at least 330 days in a consecutive 12 month period.  Expatriate employees are still considered residents of their country of origin. Meaning the income earned abroad is fully taxable to the resident country.

The IRS has released their “Dirty Dozen Tax Scams for 2013″ YouTube videos.  Check them out!

You can read about their top dozen scams online in their newsroom too.

Did you know the IRS has $197 million in unclaimed refunds from 2009?  Are you one of the 984,000 tax returns that didn’t get filed in 2009?  Don’t miss out on your refund!  File your 2009 return TODAY if you haven’t before it is too late!  The window of opportunity to file your 2009 return expires April 15, 2013! There is no penalty if you are due a refund!

Why haven’t some people file for 2009?  Some people may not have had enough income to be required to file. but but that doesn’t mean you aren’t owed a refund.

Don’t miss out on your Earned Income Tax Credit!  The credit for 2009 could be as high as $5,657.  To claim this credit you must file a federal return and it helps out low to moderate income families.

Need to file your 2009 return before it is too late?  Get your forms from the IRS!

With the summer months approaching, the urge for teenagers to find their niche in the workplace will be greater than ever.  For some employers this “temporary” workforce is vital especially in the fast food industry.  With so many rules and regulations, it can be difficult to know what the employer is required to do when it comes to proper documentation and scheduling.  There are a few pieces of information employers must know in order to stay in compliance when hiring teenage employees.

As with any employee, W-4, I-9 and supporting documents are a necessity for record keeping and compliance purposes.  It is important to determine if you are required to have a work permit for the teenager.  Verify if you need the minor’s legal guardian and school (during the school year) to complete the Parent/School Authorization form.  If any of these items are required you must keep it in their employment file. As a basic rule of thumb, teens have special work requirements regarding hours of work, prohibited duties, wages, breaks & meal periods. These are only a few of the rules when hiring teenagers. 

Employers are responsible for understanding local, state and federal laws which apply when hiring minors. State law will often be more restrictive and have more requirements than federal law, so it is important to check your state DOL rules and regulations for specific hours and times. Visit the Department of Labor website www.dol.gov, for your particular state for more information on permits and age verification certificates.