The IRS has released its annual data book providing statistical data on its fiscal year (FY) 2012 and enforcement activities.  The data provides a map of what the IRS is focusing their resources on. 

We’ve pulled some interesting facts for individual, business, and other enforcement activities. Here we look at other interesting facts relating to IRS filing and enforcement activities:

The IRS has released its annual data book providing statistical data on its fiscal year (FY) 2012 and enforcement activities.  The data provides a map of what the IRS is focusing their resources on. 

In our 3-part series, we’ve pulled some interesting facts for individual, business, and other enforcement activities. Part 2 looks at where the IRS is focusing its resources on business returns and they compare to the prior year:

An employer sponsored 401(k) plan is a great tool to help employees save for the future, but it is important to understand your plan, and play an active role in monitoring your benefits to make sure you achieve your retirement goals.

The first step towards utilizing your 401(k) plan is understanding the key provisions of the plan and how it is managed. Once you have enrolled in the plan, your employer is required to provide you a copy of the Summary Plan Description (SPD), within 90 days. You should read through the SPD to gain an understanding of the main provisions of the plan. If you are unsure about any of the features in your plan, ask your plan manager right away.

Sarah Menge, CPA
Audit, Grand Junction Office

    

 

Dalby, Wendland & Co. would like to thank the Glenwood Springs Chamber Resort Association and its members for honoring us as the 2013 Philanthropic Business of the Year.  Partners Greg Keller, Steve Carver, Lisa Cunningham, Kevin Gibson, and Lynne Kleager attended the Roaring '20s themed event on Saturday, April 20th.

Glenwood Springs' managing partner Lisa Cunningham notes, "We are honored to be recognized among such extraordinary members of our community.  We congratulate the award recipients on their achievements."

The distinguished honorees were: Citizen of the Year - Marilee Rippy; ATHENA Leadership Award - Lorie Beattie Courier; ATHENA Young Professional - Jennifer Smith; DECA Entrepreneur of the Year - Jim Nieslanik; Chamber Ambassador of the Year - Jerry Pradier; Bosco Tourism Business of the Year - Glenwood Adventure Company.

Pictured L-R: Greg Keller, Steve Carver, Chamber President and CEO Marianne Virgili, Lisa Cunningham, Kevin Gibson, Lynn Kleager

So, the deadline for filing your 2012 tax return is fast approaching and you are beginning to feel overwhelmed with the pile of tax documents and receipts sitting on the dining room table. You start to wonder if you will even meet the April 15th deadline. The good news is you are not alone. The IRS says between 25% and 30% of all U.S. taxpayers wait until the last two weeks before the deadline to file their personal income tax returns (or file for an extension). Here are several last minute tax tips that will hopefully make your tax preparation experience much more enjoyable: 

Chris West, CPA
Grand Junction Office

 

Businesses have for years attempted to save on payroll taxes by classifying employees as independent contractors.  However, the IRS is aware of this and has recently rolled out a new initiative to identify and correct misclassification of employees.  In those instances where the IRS is successful in “reclassifying” independent contractors as employees, the bill for the employer is substantial: employers have to pay both the employer and employee payroll taxes as well as penalties and interest.

 

The IRS estimates that one in seven U.S. employers is guilty of misclassifying some of its employees, resulting in a loss of more than $4.1 billion a year in tax revenues. 

Here we wrap up our three-part series of important information for those just now contemplating 2013 taxes:

Some Things Stay the Same: These Breaks Were Restored

The tax breaks listed below expired at the end of 2011, but the fiscal cliff legislation retroactively restored them for 2012 tax returns (filed in 2013):

Deduction for Higher Education Tuition - This write-off can be as much as $4,000 or $2,000 for higher-income folks.

Option to Deduct State and Local Sales Taxes - If you paid little or no state income tax in 2012, you have the option of instead claiming an itemized deduction for general state and local sales taxes. The deduction is claimed on Schedule A of Form 1040.

 

Just starting your taxes?  Read on for Part 2 in our series of important information that may affect your filing outcomes:

 

Special Drill If You Did a 2010 Roth Conversion:

If you were among the many who converted a traditional IRA into a Roth account in 2010, the conversion was treated as a taxable liquidation of your traditional IRA followed by a contribution to the Roth account.

This week we are focusing on those who are just now starting this year's taxes.  In our series of three parts, we highlight some important information you may need to know.

Part 1

The Due Date:

Monday April 15 is the filing deadline for your 2012 Form 1040. Last year, the deadline was Tuesday April 17 because April 15 was a Sunday and Monday April 16 was Emancipation Day, a District of Columbia holiday that postponed the filing deadline for the whole nation.

 

It's okay if your return won't be ready by April 15. You can extend the filing deadline all the way out to October 15 by submitting an extension request to the IRS, using Form 4868, on or before April 15. Your request will be automatically approved.

 

Remember: An extension to file is not an extension to pay. You should pay whatever remaining federal income tax you owe for 2012 with the extension request.

In an effort to help close the "tax gap," the IRS has launched a new compliance program targeting the underreporting of income by business taxpayers that receive Form 1099-K information returns from credit card companies and third-party transaction networks.

The IRS will notify certain taxpayers who may have underreported their gross receipts be sending letters and notices. If your business receives a Form 1099-K because it accepts payment cards from customers, you may receive one of these letters.

The IRS has extended the time employers who want to claim the work opportunity tax credit (WOTC) have to file Form 8850, Pre-Screening Notice and Certification Request for the Work Opportunity Credit (Notice 2013-14).

Under the extension, employers who hire a member of a targeted group on or after January 1, 2012, and up to March 31, 2013, will be considered to have timely filed Form 8850 if it is filed with the designated local agency (a state employment security agency established under 29 U.S.C. §§49-49n) by April 29, 2013.

For additional information, contact your local Dalby Wendland tax professional.



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U.S. Citizenship and Immigration Services (USCIS) has issued a long-awaited revision of Form I-9, Employment Eligibility Verification.  This new form has grown from one to two pages, while the instructions have expanded from four to seven pages.  The form has a revision date of March 8, 2013, and an expiration date of March 31, 2016, and is available on the APA website at http://info.americanpayroll.org/pdfs/fpi/13c08-fi-9.pdf.

As an audit supervisor at Dalby, Wendland & Co., I have seen several instances where the importance and usefulness of accrual accounting in monitoring business performance and making business decisions is not fully understood.  We are all familiar with the old saying, “Hindsight is 20/20.”  This saying holds true when only monitoring your business on a cash basis of accounting since cash basis methods of accounting generally recognize transactions only when cash is exchanged, which tends to be at the end of the transaction cycle.  Read on for the benefits of accrual accounting.

 

Nate Fyock, CPA

Recently our tax professionals outlined some of the new health care legislation for this year, however, there is more to come with the following additional changes taking effect in the months and years after December 31, 2013.  Keep in mind these new requirements are a work in progress. For example, some of the rules in PPACA and HCERA have been repealed and the effective date of other rules has been modified (i.e., deferred, by IRS).

The IRS receives thousands of reports every year from taxpayers who receive emails out-of-the-blue claiming to be from the IRS. Scammers use the IRS name or logo to make the message appear authentic so you will respond to it. In reality, it’s a scam known as “phishing,” attempting to trick you into revealing your personal and financial information. The criminals then use this information to commit identity theft or steal your money.

Continue reading for key information on what to do if you think you are being "phished" and resources in the case you fall victim to scammers.

In January of this year, the IRS reported 734 identity theft enforcement actions, including indictments, search warrants, complaints and arrests. This follows 2,400 enforcement actions against identity thieves in fiscal 2012.

 

Tax identity theft involves the use of a legitimate taxpayer's Social Security number to fraudulently file a tax return and claim a refund.  In this era of electronically filing tax returns, the thief can file the return, get the refund, and be gone before the victim or the IRS have any clue that the theft has occurred.

Congress has enacted legislation that overhauls the U.S. health care system and affects nearly all taxpayers, many employers, and many elements of the health care industry (The Patient Protection and Affordable Care Act (PPACA) P.L. 111-148, and the Health Care and Education Reconciliation Act of 2010 (HCERA) P.L. 111-152). Some go into effect this year, and still others will be in place in 2014 and 2018. 

Following is a synopsis of tax changes we’ve compiled for your advantage for years beginning after December 31, 2012, regarding health care legislation. Keep in mind these new requirements are a work in progress. For example, some of the rules in PPACA and HCERA have been repealed and the effective date of other rules has been modified (i.e., deferred, by IRS).

Surtax on unearned income of higher-income individuals. An unearned income Medicare contribution tax is imposed on individuals, estates, and trusts.  For an individual, the surtax is 3.8% of the lesser of either (1) net investment...

 

 

What an honor! Firm employees and partners gathered on Friday, January 25th to accept the Business of the Year award at the Grand Junction Chamber's Annual Banquet event.

Dalby's President Steve Carver graciously thanked the community for its 65-years of support and provided some words of wisdom from Dalby's founders, "Walter Dalby and Wes Wendland, the firm's cofounders, would encourage those in 2013 to 'enjoy your work, be your best and give back to your community.'"

We wish to sincerely thank the Grand Junction Chamber of Commerce and its members for recognizing Dalby, Wendland & Co. as the 2013 Business of the Year.  

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Last month, Dalby, Wendland & Company announced the three winners of their annual Spirit of Western Colorado Award®. Since 2004, DWC has proudly and publicly recognized individuals and businesses that create lasting legacies throughout western Colorado. The awards honor the pioneer spirit of the west, which embodies vision, skill, and a can-do attitude that contribute for the better in our communities.

This year’s winners — law firm Hoskin Farina & Kampf of Grand Junction, historic restoration and construction company The Floyd & Lavonne Diemoz Family of Glenwood Springs, and long-time now-retired DWC employee David L. Hamby of Grand Junction — join such previous deserving award winners as The Bacon Family, Hospice & Palliative Care of Western Colorado, Rocky Mountain Health Plans, and DWC founder Wes Wendland.

Recent changes to the estate tax end in 2012.

Federal estate tax rates are slated to change again in 2013, unless Congress decides otherwise. No one is exactly sure what will happen, or what Congress will do, so it is important to plan now rather than wait.

Dalby, Wendland will present a free seminar on the topic tonight at the Loft Meeting Room at the Hotel Denver from 5:30 – 7:00 p.m. Beer, wine, and appetizers from the Glenwood Canyon Brewing Company will be served from 5:30 – 6:00 p.m.



Call you DWC tax advisor for more information.

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Dalby, Wendland & CO announces Michelle Meagher and Denise Distel have passed Intuits’ QuickBooks ProAdvisor Advanced Certification coursework to become Advanced Certified QuickBooks ProAdvisors. The QuickBooks Advanced Certification Program expands the expertise of ProAdvisors who already have extensive knowledge in QuickBooks. The ProAdvisor certification accredits them as QuickBooks experts.



To gain access to the exam to become Advanced ProAdvisors, Meagher and Distel completed the three most current version years of QuickBooks Certification and will complete annual update courses to maintain ongoing knowledge in the latest version of QuickBooks.



Dalby, Wendland is a Diamond Level Member with Intuit Software, which enables the firm to pass along software discounts of 35% to clients.



Dalby, Wendland has QuickBooks ProAdvisors in all of the firm’s locations.  Tracy Barner, CPA, EA, Jennifer Bullock, Janna Burk, and Rita Coder are QuickBooks ProAdvisors in the Aspen,...

Habitat for Humanity operates 50 ReStores across the U.S. including one right here in the Roaring Fork Valley.

The stores receive contributions from contractors with excess supplies, lumberyards, demolition crews salvaging reusable materials, home improvement centers and individuals who are remodeling their homes.

Click here to read the article from the Dalby, Wendland newsletter or visit www.dalbycpa.com to sign up for the biweekly newsletter (sign up at the bottom right-hand side of the page). 

Dalby, Wendland & Co. is a proud sponsor of Habitat for Humanity and we are looking forward to a DWC work day this Tuesday at a Habitat House in Silt, Colorado.

Dalby, Wendland is a public accounting and business consulting firm that has provided audit, accounting, and tax services to a wide range of businesses, industries, and individuals since 1948. Recently Accounting Today ranked Dalby, Wendland a regional leader in the magazine's Top 100 Tax and Accounting Firms and Regional Leaders in the U.S.

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Home

According to Reuters, the U.S. Supreme Court upheld President Barack Obama's healthcare law today in a 5-4 ruling. The nation's highest court preserved the law's "individual mandate" requiring that most Americans obtain health insurance by 2014 or pay a tax. The justices also preserved, with some changes, a provision of the law expanding the Medicaid health insurance program for the poor.

Go to www.dalbycpa.com to sign up for the Dalby, Wendland newsletter or sign up for our RSS blog feed to receive the latest news and information on how the healthcare law might affect taxpayers in the future.  

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Periodically, we spotlight local charities in our area and this week we invite you to join Alpine Bank’s nonprofit Facebook challenge!



Alpine Bank has selected seven community nonprofits to compete for the most votes.

For every vote a nonprofit receives, Alpine Bank will donate $1 to that organization regardless of whether they win the challenge or not. The nonprofit with the most votes at the end of the challenge will receive an additional $500 donation from Alpine Bank.



Go to Alpine Bank's Facebook page and click on the 'Contest' app tab at the top of the page to vote for the nonprofit of your choice.



You can only vote once. The challenge will run through June 15 so vote today!



Here are the featured nonprofits:



*    Colorado Animal Rescue

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Do you know the potential perks of hiring a child to fill a summer job at your business?

This article in the Dalby, Wendland newsletter explains how, under the tax law, putting your kids to work in your business can be a win/win situation.

This is a good way for kids to gain experience, some extra cash and income, while you reduce your employment tax costs and income tax liability. There is even a way for your children to put some of their earnings away on a tax-favored basis for college or a first home.

Contact us to see if your business is qualified or sign up for our newsletter here.

 

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Did you know that you can renegotiate your lease and boost your company's bottom line in the process? Dalby, Wendland offers some quick ideas on how to generate extra income from your lease. Dalby, Wendland has accountants who are experienced in commercial real estate.

Ten Tips on Technology for Business Owners

What would you do if all of your data and essential information were gone or in the hands of someone who could do harm to you or your company?

Most companies do not answer this questions until it’s too late and they have had a security breach.

Think of the role technology plays in our personal and professional lives: it helps us engage with clients and colleagues; it can give businesses an edge on competition; it often provides new tools to run a business in an effective and efficient manner, and it allows us to create new ways of selling products and services.

Although technology is a prime concern for both small and large businesses, typically, small businesses have fewer defenses than big companies even though cyber criminals target smaller businesses just as often as they target larger companies.

Because one security breach could shut down your entire network and compromise important data, it is important to provide safeguards that...

What would you do if all of your data and essential information were gone or in the hands of someone who could do harm to you or your company?

Most companies do not answer this questions until it’s too late and they have had a security breach.

Think of the role technology plays in our personal and professional lives: it helps us engage with clients and colleagues; it can give businesses an edge on competition; it often provides new tools to run a business in an effective and efficient manner, and it allows us to create new ways of selling products and services.

Although technology is a prime concern for both small and large businesses, typically, small businesses have fewer defenses than big companies even though cyber criminals target smaller businesses just as often as they target larger companies.

Because one security breach could shut down your entire network and compromise important data, it is important to provide safeguards that will help protect you, your business information,...

 Although “giving away” money to reduce your taxable estate is a common strategy to reduce estate taxes, in order to be valid, the gifts must be "complete" by the time the donor dies, which means that checks must have already been written and paid by the bank.

When is a Gift “Complete?”

Click here to receive the DWC biweekly newsletter straight to your email in box.

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Western Colorado accounting firm is ranked as regional leader by Accounting Today.

Tech Tips from a CPA: Uncertain times require secure technology.

Question: Dalby, Wendland has served companies of all sizes and in many industries for the past 64 years. The region has been through several “booms and busts” and a couple of recessions, so you have a unique angle on Western Colorado. From your perspective, what is the jobs outlook for 2012?

Answer: “In general, businesses and other organizations continue to be flat regarding growth.  Therefore, it seems adding jobs will remain flat for awhile.  We are not seeing too many businesses hiring and training for the short term, unless there is a longer term benefit to their investment. The result seems to be that everyone is working very hard with the resources they currently have and waiting for the next big opportunities to expand during this election year and what happens following."



Sign up for the Dalby, Wendland blog, or follow us on Facebook and Twitter to receive the latest news and perspectives on the business...

Dalby, Wendland will launch into our 64th tax season next week!



As we step into a New Year and see the many challenges that face you and your business, we want to remind you that you can count on us as business advisors.



In a challenging economy, many small and medium-sized businesses rely on our specialized services in audit, accounting, and tax matters to stay compliant. 



Whether it’s financial forensics, estate and gift tax advice, wealth management, the buying or selling of a business, real estate matters,...

Dalby, Wendland is looking for an experienced tax accountant to join our team.

The candidate must have two to five years experience with a local or national firm along with an accounting degree. Must be a CPA candidate or have an active Colorado CPA license. A strong general accounting background is necessary along with solid technical skills and the ability to maintain client relationships. The right candidate will be able to manage multiple clients and have contact with a range of individuals and businesses in a variety of industries. 

Dalby, Wendland is a professional firm that offers excellent opportunities for professional career growth and advancement.



Email resume to HR@dalbycpa.com or visit www.DalbyCPA.com.

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We're looking for a Senior Tax Accountant with 2-5 years experience in public accounting who has been with a local or national firm for a few years and would you like to be part of an outstanding firm in Western Colorado. Our ideal candidate is a high energy CPA with a can-do attitude, solid technical accounting skills, and strong oral and written communication skills. Must be able to manage multiple clients and have contact with a range of individuals and businesses in a variety of industries. This is a professional firm that offers excellent opportunities for professional growth and career advancement. Requirements:

3-5 years experience with a mid-sized CPA firm Accounting degree and an active Colorado CPA license or be a CPA candidate Strong general accounting background Solid technical skills ...

Several of our Dalby, Wendland colleagues will be out in the community this weekend taking part in different events throughout the Roaring Fork Valley.

Dory Light and Jamin Heady-Smith will perform this weekend as part of Glenwood’s Alpine Master Chorale concerts. Dory is part of our administrative support team and Jamin-Heady Smith is a CPA who specializes in IRS tax and resolution matters.

Also, Mark L. Groves, CPA, who is one of our Glenwood Springs principals, will be singing and performing with the Mountain Madrigals this weekend.

Mountain Madrigal Singers is an adult volunteer choral group in Glenwood Springs who presents annual Christmas concerts, free to the public.

 

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We're looking for a Senior Accountant with 2-5 years experience in public accounting who has been with a local or national firm for a few years and would you like to be part of an outstanding firm in Western Colorado. Our ideal candidate is a high energy CPA with a can-do attitude, solid technical accounting skills, and strong oral and written communication skills. Must be able to manage multiple clients and have contact with a range of individuals and businesses in a variety of industries.  This is a professional office that offers excellent opportunities for professional growth and career advancement.

Requirements:

3-5 years experience with a mid-sized CPA firm; Accounting degree and an active Colorado CPA license or be a CPA candidate; Strong general accounting background; Solid technical skills Ability to maintain client relationships. Email resume to HR@dalbycpa.com. Visit www.DalbyCPA.com.

 

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Due to the flat home market, many homeowners will make more improvements on their homes instead of selling. Tax Tip: Home improvements can add to your basis and may reduce your taxes at the time of a future sale, but home repairs do not give the same tax benefits.

 

Call one of our experienced tax accountants for more information on how to benefit from home improvements.

 

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The Internal Revenue Service today announced that it will extend help to more innocent spouses by eliminating the two-year time limit that now applies to certain relief requests.

According to the IRS, they are making this change to improve the process to make it fairer for an important group of taxpayers. "Today’s change will help innocent spouses victimized in the past, present and the future," said IRS Commissioner Doug Shulman

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On Friday, July 15, 2011, the Internal Revenue Service advised truckers and other owners of heavy highway vehicles that their next federal highway use tax return, usually due Aug. 31, will instead be due on Nov. 30, 2011.

Dalby, Wendland’s accountants and auditors are experienced in the construction industry trades throughout Western Colorado. Our experienced accounting and audit teams can assist with: 

Bookkeeping and payroll compliance services

Construction Budgets

Construction Company Tax Regulation

Construction IRS Audits and Inquiries

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The Treasury Department and the Internal Revenue Service issued a notice yesterday announcing plans to phase in the requirements of the Foreign Account Tax Compliance Act (FATCA).

According to the IRS, “the new law targets noncompliance by U.S. taxpayers through foreign accounts. Under the notice’s phased implementation approach, foreign financial institutions (FFIs) and U.S. withholding agents are given adequate time to build the systems needed to fully comply with FATCA.”

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Dalby, Wendland Co., P.C. will offer three days of beginner, advanced, and payroll QuickBooks classes Monday, July 25 – July 27 at Dalby, Wendland & Co., P.C. at 201 Centennial Street in Glenwood Springs.  The fee is $115 for each class and $60 for the payroll class.

Dalby, Wendland & Co., P.C. is a certified QuickBooks ProAdvisor.  To register by phone or for class information call Kelly at 970-945-8575. To register by e-mail contact  KWard@DalbyCPA.com. Registration is required.

Dalby, Wendland also offers full-range bookkeeping services that can help reduce your operating expenditure and give you the confidence that your business is observing payroll rules and regulations.

Late payment of payroll taxes may result in severe penalties. The benefit of our bookkeeping...

Steven D. Hovland, CPA, Cr.FA, a manager at Dalby, Wendland & Co., P.C in Grand Junction, has achieved the prestigious designation, Certified Forensic Accountant, Cr.FA,® by the American College of Forensic Examiners Institute. (ACFEI).



A forensic accountant is a professional investigator who uses accounting, auditing, and research training to conduct financial examinations. Forensic accountants can uncover such crimes as fraud, embezzlement, and improper business practices and they are often called to testify in court about their findings.



The ACFEI is the world’s largest forensic science association, and an important part of its mission is to recognize experience and continuing educations of professionals who conduct forensic examinations. 



The designation Certified Forensic Accountant, Cr.,FA® identifies...

There are many reasons to create an estate plan that will benefit you and your family in future years. While estate planning can be a sensitive and complicated matter, it is wise to plan for the transfer of assets now with a team of Western Colorado accountants experienced in estate planning.



Due to legislative changes it is important to review your estate planning strategies.  We can help define your objectives and analyze the potential tax implications as well as offer alternatives aimed at minimizing future tax burdens.  Call one of our tax professionals today.  

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Investing in commercial real estate has its complexities and certainly isn’t for the faint of heart. Investors must perform financial analysis on various potential investment opportunities to determine the best possible performers and, hopefully, pick a winner. Here’s a brief overview of the financial analysis and key tax aspects involved in such investments.

One of the first steps in analyzing any real estate investment is the determination of the projected net operating income (NOI). NOI is calculated by subtracting operating expenses from the gross rental income from the property. Operating expenses include real estate taxes, maintenance, insurance, janitorial, accounting, management fees, etc. Many investors like to use projected NOI to calculate a “cap rate” on the prospective property. A cap rate is simply the NOI divided by the total purchase price of the property.  For example, if a potential real estate investment with a purchase price of $500,000 was projected to generate an NOI of $40,000, then...

The Internal Revenue Service announced an increase in the optional standard mileage rates for the final six months of 2011. According to the IRS, taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business and other purposes.

On July 1, 2011, the rate will increase to 55.5 cents a mile for all business miles driven from July 1, 2011, through Dec. 31, 2011. This is an increase of 4.5 cents from the 51 cent rate in effect for the first six months of 2011.

According to the IRS, taxpayers may calculate the actual costs of using their vehicle rather than using the standard mileage rates.                                                                             ###

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Glenwood Springs, CO  – Dalby, Wendland Co., P.C. will offer three days of beginner, advanced, and payroll QuickBooks classes Mon., July 25 – Wed., July 27 at Dalby, Wendland & Co., P.C. located at 201 Centennial Street in Glenwood Springs.  The fee is $115 for each class and $60 for the payroll class.                 

Dalby, Wendland & Co., P.C. is a certified QuickBooks ProAdvisor. To register by phone or for class information call Kelly at 970-945-8575. To register by e-mail contact  KWard@DalbyCPA.com. Registration is required.  

Dalby, Wendland & Co., P.C., is a Western Colorado accounting firm that consistently ranks as one of the top professional accounting firms in the state. The firm opened it's doors in 1948 and now has offices in Aspen, Glenwood Springs, Rifle,...

The Colorado Department of Revenue will allow certain taxpayers to pay the full amount of overdue taxes, including one-half of any interest due, without being subject to any other civil or criminal penalties. The Colorado tax amnesty program will run from Oct. 1 through Nov. 15, 2011 and applies to taxes that were due on or before Dec. 31, 2010. The amnesty DOES NOT include 2010 Colorado income tax, which was due April 18, 2011.

Call Dalby, Wendland for other exclusions or for more information on the Colorado Tax Amnesty program.                                                                                                                                                                                                         ###

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The Spring 2011 Issue of the Statistics of Income Bulletin is now available on the IRS’ website at www.irs.gov. The issue features information on high-income individual income tax returns filed for tax year 2008.
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According to Colorado Governor John Hickenlooper’s office, some taxpayers will be allowed to pay certain overdue taxes, including one-half of any interest due, without being subject to any fine or civil or criminal penalty otherwise provided for by law.

Hickenlooper signed legislation on June 3, 2011 that approves a tax amnesty program that will run from October 1 through November 15, 2011. According to the legislation “the amnesty program applies to: corporate and personal income taxes; sales and use taxes and county or municipal sales taxes collected by the Department of Revenue; gasoline and special fuel taxes; cigarette and tobacco products taxes; severance taxes; certain local improvement district sales taxes; sales and use taxes imposed by the Regional Transportation District, the Denver Metropolitan Scientific and Cultural Facilities District, Metropolitan Football Stadium, and regional transportation authorities; and local marketing and promotion...

Some divorce cases may involve complex financial issues if there are businesses or family entities involved. For divorces that involve equitable division of various assets or debts, attorneys will often engage a CPA experienced in complex financial issues that surround divorce.

Dalby Wendland has several experienced CPAs who have served as expert witnesses in court cases. Several principal partners at Dalby, Wendland also have special designations from the American Institute of Certified Public Accountants that include forensics, technology, and business valuation. Experienced CPAs like Dalby, Wendland can be instrumental in researching and explaining tax ramifications in divorce settlements.

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Make sure your personal and business tax records will be protected in the event of a disaster. 1.    Create a backup set of records electronically. Scan them into electronic format or download them to a backup storage device such as an external hard drive or copy them to a CD. 2.    Keep another set of records in a safe place. The original and the back up should be stored in two separate locations. This should include bank statements, tax returns, insurance policies, and other important documents. If the federal government declares your area as a major disaster area, special tax law provisions may help taxpayers and businesses recover financially from the disaster.

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Businesses and family entities in the agricultural industry face new economic challenges that are forcing them to think of innovative ways to grow their business and protect their land.

We would like to share some insights on the critical role information technology (IT) plays in business. IT is a driving force in the success of business and companies that use it will see their operations continue to grow, even in slow economies.

In a complex, competitive and round-the-clock business environment, companies must be efficient, fast and safe. That’s where IT can help significantly enhance performance. With a boost in efficiency and mobility, comes security risks, however.

Like many businesses, certified public accounting firms have widened their scope of technology skills to remain current on the latest knowledge, but also to learn how to keep important and confidential data safe.

Some businesses have come to rely more on auditors and accountants in business advisory roles for their companies because of the oversight and understanding such firms have of the business environment. CPA firms can help organizations and businesses streamline their processes, maximize productivity...

Pursue your profession and live your adventure in Western Colorado.

Taxpayers who needed extra time to complete their federal income tax returns likely filed for an extension. The government allows an automatic, six-month extension of time to file your tax return, making it due Oct. 15.

The government allows only an extension of time to file, however, and not an extension of time to pay. Taxpayers are required to make a good faith estimate of the balance of any taxes due with their returns and pay that amount when they file for their extensions.

Those who underestimate the taxes owed on their extensions, likely will owe interest and penalties when they file their returns on or before Oct. 15. The balance must be paid on or before the extended deadline. Of course, those who’ve overpaid and expect a refund can’t get an “advance” when filing an extension. The actual tax return must be filed before any refund check will be issued.

Now that you’re beyond the regular tax deadline and ready to complete your extended tax return, consider a few of the following common,...

Taxpayers who are unable to complete and file their individual tax return by the April 18th deadline can request an extension of time to file, which automatically gives them until Oct. 17, 2011, to submit their federal form to the Internal Revenue Service.

An extension gives an additional six months to file your tax return but it is not an extension of time to pay. All outstanding balances are due on April 18, 2011.

IRS Commissioner Doug Shulman addressed the National Press Club on Wednesday and answered questions regarding the IRS’ preparations for a possible shutdown of the federal government, which could happen Friday, April 8, 2011. Although Shulman said that “the president has made very clear that his goal is not to have a shutdown,” he told the audience that the IRS has “been doing some contingency planning around this.”

Shulman also emphasized that “people should file their taxes” and “the due date will remain Monday, April 18.”

He said that processing of e-filed returns would continue as normal if the government shuts down, and he encouraged taxpayers, “whether there is a shutdown or not,” to file electronically.

Schulman said that the processing of paper returns would be delayed if the government shuts down and that there would probably be a delay in refunds for taxpayers who file on paper.

The federal government is currently operating under a continuing resolution and not a formal...

ColoradoBiz magazine’s ninth annual ranking of professional-service firms ranks Dalby, Wendland & Co., P.C. as a top professional firm whose services provide fundamental support to Colorado industries.The firm opened its doors in 1948 and is entering its 63rd tax season this year. Dalby, Wendland is the largest accounting, auditing and business advisory firm headquartered in Western Colorado with offices in Aspen, Glenwood Springs, Grand Junction, Montrose,   Telluride, Rifle, and the Vail Valley.                                                                                   #

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Our very own Chris West sat down for a quick TV interview with KJCT8 in Grand Junction recenlty to talk about how common tax deductions could save you money. Watch the clip here for a couple of other tax season money savers you might have missed.

Some small businesses might think about outsourcing their bookkeeping and payroll to professional accounting firms who have experienced bookkeepers and QuickBooks ProAdvisors on staff. State and federal authorities, in their search for additional funds are more actively assessing penalties for non-compliance and this is a big concern for small business owners. To ensure that everything is being done correctly, some are hiring professional firms to do the bookkeeping.  In some cases, local outsourcing can be a cost-effective alternative for small businesses.

We have experienced bookkeepers in all of our Western Colorado locations:

Bookkeeping and QuickBooks Services in Glenwood Springs...

As of Tuesday, March 1, 2011, all Homeowner Associations with the state of Colorado must have registered with the Colorado Division of Real Estate under House Bill 10-1278 which was passed last year. HOAs must also file corporate reports with the secretary of state’s office.

Dalby, Wendland provides Audit, Review and Compilation Services for HOAs as well as assistance with HOA owner billing, financial reporting, and filing the HOAs tax return, which is required by law.                                                                                                                     #

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This article from Greg Keller recently appeared in the Aspen Times and the Glenwood Springs Post Indepedent.

The Vail Daily recently spotlighted Dalby, Wendland CPAs Michelle A. Winstead and Jason A. Anderson in an article that spotlights the Edwards accounting firm. The Vail Valley CPAs talk about the critical need for taxpayers to hire experienced accountants as new laws and legislation will have an impact on the way taxpayers file their returns this year.

Jason Anderson, CPA, is a 1998 graduate of Bellevue University in Bellevue, Neb. He specializes in income tax preparation and planning for businesses and individuals, foreign individuals and the real estate industry. Jason is currently in the process of obtaining the Certified Financial Planner designation. Michelle Winstead, CPA, grew up in Eagle County and is a 2003 Colorado State University graduate with a master's degree....

On February 8, 2010 the Internal Revenue Service announced a special voluntary disclosure initiative designed to bring offshore money back into the U.S. tax system and help people with undisclosed income from hidden offshore accounts get current with their taxes. The new voluntary disclosure initiative will be available through Aug. 31, 2011.

“As we continue to amass more information and pursue more people internationally, the risk to individuals hiding assets offshore is increasing,” said IRS Commissioner Doug Shulman. “This new effort gives those hiding money in foreign accounts a tough, fair way to resolve their tax problems once and for all. And it gives people a chance to come in before we find them.”

The IRS decision to open a second special disclosure initiative follows continuing interest from taxpayers with foreign accounts. The first special voluntary disclosure program closed with 15,000 voluntary disclosures on Oct. 15, 2009. Since that time, more than 3,000 taxpayers have come forward...

Dalby, Wendland provides Audit, Review, and Compilation services to businesses of all sizes throughout Western Colorado. Dalby, Wendland is ranked as one of Colorado’s top accounting firms for audit, accounting, and tax services. With 62 years of Colorado accounting, audit, and tax preparation, we have been the trusted accountants and business advisers to individuals and companies of all sizes throughout Western Colorado since 1948. Call us today and find out how experienced accountants can help guide you through the new 2011 tax laws. Some of the professionals at Dalby Wendland also have special designation in business valuation, financial planning and financial forensics from the AICPA.

The new Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act includes important depreciation changes for 2011 and 2012 that will benefit both small and large businesses. Even better, the best change is retroactive to the last part of 2010. The depreciation changes made by the new law are layered on top of changes made by last September's Small Business Jobs Act. Call our team of experienced certified public accountants in any of our Western Colorado offices to find out how your business can benefit from new tax laws.                                                                                     ###...

On January 22, 2011, the Associated Press reported that a Colorado lawmaker wants to change the way the state handles its conservation easements program because of delays hearing appeals that could result in foreclosures on hundreds of farms and ranches. At issue are tax credits that were granted to property owners in exchange for not developing their land. Some of those credits were later denied. 

For more information on the tax implications of conservation easements, please call us today.

On January 24 The Internal Revenue Service unveiled IRS2Go, its first Smartphone application that lets taxpayers check on their status of their tax refund and obtain helpful tax information.

"This new smart phone app reflects our commitment to modernizing the agency and engaging taxpayers where they want when they want it," said IRS Commissioner Doug Shulman. "As technology evolves and younger taxpayers get their information in new ways, we will keep innovating to make it easy for all taxpayers to access helpful information."

The IRS2Go phone app gives people a convenient way of checking on their federal refund. It also gives people a quick way of obtaining easy-to-understand tax tips.

Apple users can download the free IRS2Go application by visiting the Apple App Store. Android users can visit the Android Marketplace to download the free IRS2Go app.

"This phone app is a first step for us," Shulman said. "We will look for additional ways to expand and refine our use of smart phones and...

 

For daily tax updates and important information on the 2010 tax filing season, sign up for our newsletter or check back daily for upcoming IRS due dates and tax deadlines. Question:   

 

How do I know if I have to file quarterly individual estimated tax payments?

 

Answer:   

 

You must make estimated tax payments for the current tax year if both of the following apply:

 

You expect to owe at least $1,000 in tax for the current tax year, after subtracting your withholding and credits. You expect your withholding and credits to be less than the smaller of: ...

Dalby, Wendland, & Co., P.C. announces Denise R. Distel has earned certification as a QuickBooks Pro-Advisor. Distel has been with Dalby, Wendland for over 23 years and has considerable experience in bookkeeping, payroll services, accounts receivable, accounts payable management, payroll and transaction processing, and QuickBooks training and ongoing support. Distel is a QuickBooks Pro-Advisor for the 2010 and 2011 editions and is also certified with the American Institute of Professional Bookkeepers. QuickBooks designation is awarded to individuals who have successfully completed 16 hours of intense training. 



"Having a QuickBooks Pro-Advisor on your team is invaluable,” said Distel. “I work with small businesses all over the Uncompahgre...

Dalby, Wendland & Co., P.C. assisted the American Ski Cross Association with their Tax Exempt Application last fall, so we just wanted to take a moment to wish all the X Games athletes safety and success this week as they head to Aspen for the weekend.  The American Ski Cross Association is a 501 (c) 3 non-profit corporation dedicated to the support and development of U.S. Ski Cross athletes in national and international competition.

Dalby, Wendland can help set up and maintain your non-profit organization's tax-exempt status by handling all the IRS reporting and tax preparation. Be sure to hire an accountant experienced in nonprofit to guide you through the process.

Dalby, Wendland is one of the top ranked accounting firms in Colorado....

The Internal Revenue Service opened electronic filing on January 14, 2011 with a reminder to taxpayers that e-file remains the best way to get fast refunds and ensure accurate tax returns, particularly following several tax law changes in December.

IRS e-file is approaching the milestone of 1 billion returns processed. The electronic transmission system, which has revolutionized the way the IRS processes tax returns and made speedy refunds possible, has safely and securely processed 892 million tax returns since its national debut in 1990. In 2010, nearly 100 million people - 70 percent of the taxpayers - used IRS e-file.

“IRS e-file is the best option for everyone, especially for people impacted by recent tax law changes,” said Doug Shulman, IRS commissioner. “E-file ensures people can file accurately and get refunds quickly. With a new legislative e-file mandate for tax preparers, we anticipate that more tax return preparers will be using e-file...

The Internal Revenue Service today announced that small tax-exempt organizations may be able to shift to the simpler Form 990-N (e-Postcard) for their 2010 annual information reporting.

The IRS today issued guidance ( Revenue Procedure 2011-15) that will allow more tax-exempt organizations to file the e-Postcard rather than the Form 990-EZ or the standard Form 990.

For tax years beginning on or after Jan. 1, 2010, most tax-exempt organizations whose gross annual receipts are normally $50,000 or less can file the e-Postcard. The threshold was previously set at $25,000 or less. (However, supporting organizations of any size must file the standard Form 990 or, if eligible, Form 990-EZ).

A tax-exempt organization’s annual gross receipts or total assets are used to determine which of the three versions of Form 990 it is required to file. IRS.gov contains information about which form to file.

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The Internal Revenue Service today announced the 2011 inflation adjustments to the excise taxes on air transportation.

 

Excise taxes apply to the domestic segments of taxable air transportation and to the use of international air facilities. The Airport and Airway Extension Act of 2010, Part IV, signed into law on Dec. 22, 2010, extends these excise taxes to air transportation that begins or is paid for no later than March 31, 2011.

 

These excise taxes are adjusted annually for inflation:

 

For 2011, the excise tax on the domestic segment of taxable air transportation is $3.70, unchanged from 2010.

 

The excise tax for 2011 for international flights that begin or end in the United States is $16.30, up from $16.10 in 2010.

 

The tax on use of international air facilities also applies at a reduced rate to departures of interstate flights that begin or end in Alaska or Hawaii. For 2011, the international air facilities tax on these flights...

Proper tax planning along with a good tax strategy will help reduce your current tax bill and help you have a little more control over your financial destiny.

While many people don't think about their taxes until March or April, it is a good idea to start now.

Congress just passed the 2010 Tax Relief Act and President Obama signed the legislation that will give 95% of working Americans a tax cut.

The new law gives taxpayers some certainty in tax planning through 2012 concerning the individual income tax rates, capital gains/dividend tax rates and the estate tax. However, the provisions are temporary and the new law defers the ultimate fate of the Bush-era tax cuts to 2012, a presidential election year.

1.                  Payroll Tax Cut: The most immediate benefit is the 2% payroll tax cut for employees which will put money in your pocket now. It reduces the Social Security Tax withholding rate from 6.2% to 4.2% of wages paid. Self-employed individuals will pay 10.4% on self-employment...

Following last week’s tax law changes, the Internal Revenue Service announced today the upcoming tax season will start on time for most people, but taxpayers affected by three recently reinstated deductions need to wait until mid- to late February to file their individual tax returns. In addition, taxpayers who itemize deductions on Form 1040 Schedule A will need to wait until mid- to late February to file as well.



The start of the 2011 filing season will begin in January for the majority of taxpayers. However, last week’s changes in the law mean that the IRS will need to reprogram its processing systems for three provisions that were extended in the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 that became law on Dec. 17.



People claiming any of these three items — involving the state and local sales tax deduction, higher education tuition and fees deduction and educator expenses deduction as well as those taxpayers who itemize deductions on...

In 2011, personal exemptions and standard deductions will rise and tax brackets will widen due to inflation, the Internal Revenue Service announced today.

 

These inflation adjustments relate to eight tax provisions that were either modified or extended by the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 that became law on Dec. 17. New dollar amounts affecting 2011 returns, filed by most taxpayers in early 2012, include the following:

The value of each personal and dependent exemption, available to most taxpayers, is $3,700, up $50 from 2010. The new standard deduction is $11,600 for married couples filing a joint return, up $200, $5,800 for singles and married individuals filing separately, up $100, and $8,500 for heads of household, also up $100. The additional standard deduction for blind people and senior citizens is $1,150 for married individuals, up $50, and $1,450 for singles and heads of household, also up $50. Nearly two out of three...

Montrose, Colo. Dalby, Wendland, & Co., P.C. announced Ralph A. "Buck" Miller, CPA, has earned certification by the National Association of Certified Valuation Analysts (NACVA) as a Certified Valuation Analyst (CVA).



The CVA designation is awarded to individuals who have successfully completed the requirements of the National Association of Certified Valuation Analysts for the CVA designation.  These requirements include an intensive, week-long course of study and related testing, and the successful completion of an in-depth, extensive, and detailed case study.  CVAs must meet continuing education requirements to maintain the designation and must also conduct themselves in accordance with the standards of state and national boards.

Miller manages the firm's Montrose and Telluride offices.  He joined Dalby, Wendland & Co., P.C., in 1981 and became a principal in 1990.  He has 29 years of experience in all areas of business taxation, including real estate and real estate development, choice...

 

The Internal Revenue Service released instructions on December 17, 2010 to help employers implement the 2011 cut in payroll taxes, along with new income-tax withholding tables that employers will use during 2011.

Millions of workers will see their take-home pay rise during 2011 because the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 provides a two percentage point payroll tax cut for employees, reducing their Social Security tax withholding rate from 6.2 percent to 4.2 percent of wages paid. This reduced Social Security withholding will have no effect on the employee’s future Social Security benefits.

The new law also maintains the income-tax rates that have been in effect in recent years.

Employers should start using the new withholding tables and reducing the amount of Social Security tax withheld as soon as possible in 2011 but not later than Jan. 31, 2011. Notice 1036, released today, contains the percentage method income tax withholding tables, the lower Social Security withholding rate, and related information that most employers need to implement these changes. Publication 15, (Circular E), Employer’s Tax Guide, containing the extensive wage bracket tables that some employers use, will be available on IRS.gov in a few days.

The IRS recognizes that the late enactment of these changes makes it difficult for many employers to quickly update their withholding systems. For that reason, the agency asks employers to adjust their payroll systems as soon as possible, but not later than Jan. 31, 2011.

For any Social Security tax over withheld during January, employers should make an offsetting adjustment in workers’ pay as soon as possible but not later than March 31, 2011.

Employers and payroll companies will handle the withholding changes, so workers typically won’t need to take any additional action, such as filling out a new W-4 withholding form.

As always, however, the IRS urges workers to review their withholding every year and, if necessary, fill out a new W-4 and give it to their employer. For example, individuals and couples with multiple jobs, people who are having children, getting married, getting divorced or buying a home, and those who typically wind up with a balance due or large refund at the end of the year may want to consider submitting revised W-4 forms. Publication 919, How Do I Adjust My Tax Withholding?, provides more information to workers on making changes to their tax withholding.

The content presented in this article is taken from the information The Internal Revenue Service provides on their website at www.irs.gov

Call Dalby, Wendland for the latest on 2011 payroll taxes. 
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Congratulations to Lynn Kleager who celebrates 31 years with Dalby, Wendland & Co., P.C. today.

 

Lynn joined Dalby, Wendland & Co., P.C., in 1979 and became a principal in 1983. Lynn has considerable experience and expertise in the areas of tax accounting and compliance for individuals, partnerships, S corporations, limited liability companies, fiduciaries, multi-state returns, representation of clients before various tax authorities, financial planning, business valuations, marital dissolution accounting matters, expert witness in marital dissolution litigation, and litigation support activities.

 

Lynn also has special designation in business valuation and finanical forensics. Professional & Civic Associations

Certified Public Accountant – Colorado American Institute of Certified Public Accountants American Institute of Certified Public Accountants - Accredited in Business Valuation American Institute of Certified Public Accountants - Certified...

Dalby, Wendland & Co., P.C. celebrates 62 years in the accounting profession with two open houses in January, 2011, so save the date(s) now. The Client Appreciation and Open House Party for the Glenwood Springs Office will be on Tuesday, January 11, 2011. Location: 201 Centennial Street, (first floor), Glenwood Springs The Client Appreciation and Open House Party for the Grand Junction Office will be on Thursday, January 20, 2011. Location: 464 Main Street, Grand Junction More information to come as invitations are mailed in the next week.                                                                                                         #

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Dalby, Wendland & Co., P.C., a top Western Colorado accounting firm, will contribute advertorial articles to the Aspen Times, the Business Times in Grand Junction, and the Post Independent in Glenwood Springs, Colorado starting this month.  Article topics will range from end-of-year tax planning tips to articles on how new and impending tax laws might affect individuals and businesses.                                                                                                                #

 

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The Internal Revenue Service announced December 7, 2010 that interest rates for the calendar quarter beginning January 1, 2011, will decrease by one percentage point. The rates will be:  

three (3) percent for overpayments [two (2) percent in the case of a corporation]; three (3) percent for underpayments; five (5) percent for large corporate underpayments; and zero and one-half (0.5) percent for the portion of a corporate overpayment exceeding $10,000. Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. 

 

For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.  Generally, in the case of a corporation, the underpayment rate is the federal short-term rate plus 3 percentage points and the overpayment rate is the federal short-term rate plus 2 percentage points.  The rate for large corporate underpayments is the federal short-term rate plus...

Lynn Kleager, CPA, ABV, CFF and Mark Groves, CPA, two accountants from the top ranked Western Colorado firm of Dalby, Wendland & Co., P.C. participated in a live iTaxBlog discussion on the topic of the IRS Creating UNICAP Safe Harbor Methods for Auto Dealers.

 

Dalby, Wendland works with several auto dealers in Western Colorado. We provide excellence and expertise in business, financial, and consulting services to auto dealerships and their owners. Lynn Kleager has 31 years of experience in the profession and Mark Groves has more than 20 years of experience in the accounting profession.                                                                                                              #

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Dalby, Wendland & Co., P.C., the largest Colorado-based accounting and business consulting firm in Western Colorado, has once again been ranked by ColoradoBiz as one of the top Colorado Professional-Service Firms in the state in the December 2010 issue of ColoradoBiz Magazine.  

The annual ranking of professional-service firms covers eight industries whose services provide fundamental support to businesses: law, accounting, advertising/PR/marketing, architecture, engineering, general contracting, small-business healthcare carriers, and investment managers/financial advisers. ColoradoBiz provide a ranking of firms - usually by size - in each of those industries.   The rankings are of Colorado-based companies, except companies that are headquartered out of state but are determined to have a significant Colorado presence. 

Click here for the complete article: http://www.cobizmag.com/lists/colorado-professional-service-firm-rankings-2010/...

December 3, 2010

The Internal Revenue Service today issued the 2011 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning on Jan. 1, 2011, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

51 cents per mile for business miles driven 19 cents per mile driven for medical or moving purposes 14 cents per mile driven in service of charitable organizations The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on the variable costs as determined by the same study. Independent contractor Runzheimer International conducted the study.

A taxpayer may not use the business standard mileage rate for a vehicle after using any depreciation method under the Modified Accelerated Cost Recovery System (MACRS) or...

Dalby, Wendland Co., P.C. will offer three days of beginner and advanced QuickBooks classes Tues., Dec. 7 through Thurs., Dec. 9, 2010 at Dalby, Wendland & Co., P.C. at 201 Centennial Street in Glenwood Springs.  The fee is $115 for each class. Dalby, Wendland & Co., P.C. is a certified QuickBooks ProAdvisor. To register by phone or for class information call Kelly at 970-945-8575. To register by e-mail contact  KWard@DalbyCPA.com. Registration is required. There are only a few seats left so call now.

Dalby, Wendland & Co., P.C., the largest accounting firm headquartered in Western Colorado, is ranked as one of the top professional accounting firms in the state. The firm, founded in 1948, has offices in Aspen, Glenwood Springs, Rifle, Grand Junction, Montrose, Telluride, and the Vail Valley. Certified ProAdvisors are specially trained QuickBooks experts who have passed the Certification exam.                ...

The Internal Revenue Service is looking to return $164.6 million in undelivered refund checks. A total of 111,893 taxpayers are due one or more refund checks that could not be delivered because of mailing address errors. “We want to make sure taxpayers get the money owed to them,” said IRS Commissioner Doug Shulman. “If you think you are missing a refund, the sooner you update your address information, the quicker you can get your money.” A taxpayer only needs to update his or her address once for the IRS to send out all checks due. Undelivered refund checks average $1,471 this year, compared to $1,148 last year. Some taxpayers are due more than one check. The average dollar amount for returned refunds rose by just over 28 percent this year, possibly due to recent changes in tax law which introduced new credits or expanded existing credits, such as the Earned Income Tax Credit. If a refund check is returned to the IRS as undelivered, taxpayers can generally update their addresses with the “ Where’s My Refund?”...

Dalby, Wendland, & Co., Whitsitt & Gross, Mason and Morse Real Estate, and Cornerstone Mortgage will partner together and present a free foreclosure seminar Wed. Nov. 17, 2010 from 6-8 p.m. at the Glenwood Springs Community in Sopris Rooms A&B. The event is geared towards borrowers, developers, realtors, bankers, attorneys and CPAs and addresses critical accounting, banking, legal, and real estate issues regarding foreclosure.

Dalby, Wendland & Co., P.C., a Western Colorado CPA firm who has led the public accounting profession in the region for more than 60 years, is looking for a senior accountant for the Glenwood Springs office.

Glenwood Springs, Colo. - Dalby, Wendland, & Co., P.C. announces Lynn A. Kleager, CPA/ABV/CFF and Greg A. Keller, CPA/CITP/PFS/CFF have become Certified in Financial Forensics (CFF) by the American Institute of Certified Public Accountants. Lynn Kleager also became accredited in Business Valuation Services (ABV) by the American Institute of Certified Public Accountants.

Grand Junction, Colo. - Dalby, Wendland, & Co., P.C. would like to congratulate the following professionals on their recent promotions.