The IRS has unveiled a People First Initiative to provide immediate relief to taxpayers. The IRS has initiated several steps to help those who are dealing with tax liabilities and other tax issues in these uncertain and difficult times. This is the first time in a long time we have seen the IRS go to this…

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Dear Clients, In recent news, the IRS and the President have issued statements confirming the extension of the federal tax filing deadline to July 15, 2020. The first communication came this morning in a tweet from the Secretary of the Treasury. Additional information can be found here: https://www.accountingtoday.com/news/trump-moves-tax-day-to-july-15-because-of-coronavirus You can also read the passed bill here:…

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Finding the right person to head up your company’s finance and accounting department can be challenging in today’s tight labor market. While it may be tempting to simply promote an existing employee, external candidates may offer fresh ideas and skills that take your financial reporting to the next level. Here are four traits to put…

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Why Tax Planning is So Important Now Tax Planning is more important than ever before. The IRS just enacted the largest changes in the past 30 years. While the federal income tax regulations are now more complicated than ever, the benefits of strategic tax planning are more valuable than ever before.   What is Tax…

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Document and Record Retention

  Electronic Documents and Record Retention A frequent question that we receive from clients with Colorado businesses is what are the federal and Colorado rules related to record retention and electronic document storage and retrieval? Federal law states that all taxpayers subject to income tax must keep books and records that are sufficient to establish…

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