ITIN Renewals

ITIN Renewals

ISSUE More than 1 million Individual Taxpayer Identification Numbers are set to expire at the end of 2020 as the Internal Revenue Service completes the expiration of ITINs assigned prior to 2013. The IRS continues to urge affected taxpayers to submit their renewal...
ITIN Renewals

Cybersecurity: Avoid Phishing Scams

ISSUE The IRS and the Security Summit continue to issue “Tips for Tax Professionals” (that contain good information for all of us).  Today we look at Part 4 of the six-part series, “Working Virtually: Avoid Phishing Scams.” SITUATION Idaho Theological Seminary (ITS)...
ITIN Renewals

PPP: FTE – Loan Forgiveness Reductions?

ISSUE The Small Business Administration (SBA) released new PPP FAQs on August 4, 2020.  We wish they were more robust.  One of the issues covered is offers to rehire workers and how that works with the potential reduction in FTE. SITUATION Marathon Bible College (MBC)...
ITIN Renewals

Multi-Factor Authentication

ISSUE As a follow-up to last week’s “Tax Tips,” let’s look closer at one of the safeguards that the IRS and “Security Summit” noted in their reports.  Part 2 of the Security Summit Tips for Tax Professionals is entitled, “Use Multi-Factor Authentication to Protect...
ITIN Renewals

Cybersecurity Update

ISSUE Cybersecurity should be a priority for your institution.  The Department of Education has specific requirements under the Gramm-Leach-Bliley Act.  The IRS is in the process of releasing a five-part report on cyber protection when working remotely. SITUATION...