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IRS E FILE
 TAX PROS has
been YOUR OWN on
the block for 27
years.
Owned and run by former IRS employees who keep abreast of the tax law changes and partnered with the leading IRS approved software transmitter in this fast growing, service-based industry.
This combination makes for accuracy and expert knowledge of what must and must not and can and can't be
done to ensure you are in compliance with all applicable tax laws, while paying only what you have to and getting back
everything you don't.
We specialize in serving small business owners locally and nationwide with everything from registration
for employment and sales taxes, to now even DIRECT DEPOSIT Banking services in
the form of DEBIT CARD ACCOUNTS for you and your
UNBANKED
employees.
Whether you are a sole proprietor, partnership or corporation,
we can serve you.
This product is beneifical to any UNBANKED person, an employee
on their own, recipients of Social Security or SSI, Child Support or Alimony, unemployment and Government or other
Retirement checks. You can either have SOA print your check and pick it up
from us, or with a DEBIT
CARD ACCOUNT, your funds are credited
to your card THE DAY OF THE DEPOSIT.
So there's NO MORE LOST OR STOLEN CHECKS and
NO
MORE WAITING FOR THE MAIL.
If you receive an SSI or SOCIAL SECURITY CHECK and it comes on the
3rd of the month, with government checks, direct deposit is usually transacted a couple of days ahead of time and your
card will
be credited then. Even on Sundays and Holidays.
DIRECT DEPOSIT FOR ALL THROUGH TAX
PROS of SOA !
We also offer consulting services to help resolve problems you may be having with the IRS or state revenue agencies, from helping to understand complex and frightening notices to assisting with
installment payment plans or offers in compromise.
| STOP BEING ROBBED BY CHECK CASHIERS !* |
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| Get Your REFUND on Currency Connection Debit Cards |
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IRS REPRESENTATION AND
PROBLEM RESOLUTION
IRS &
MASSACHUSETTS
BUSINESS WEBFILE
TAX-EXEMPT STATUS
FOR YOUR ORGANIZATION
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| TAX BENEFITS AND CONSEQUENCES |
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| of the NEW Mandatory Health Insurance Law in Massachusetts ~ Ask Your Tax Preparer |
Effective as of July 1, 2007 ALL MASSACHUSETTS RESIDENTS HAD TO HAVE HEALTH INSURANCE
The Commonwealth of Massachusetts has passed this new law in April 2006 under MITT ROMNEY where the United States Congress has failed to address
the growing need for America to join the few civilized nations of the world that provide total HEALTH
CARE COVERAGE for all its citizens.
ALL EMPLOYERS in MASSACHUSETTS with 11 or more employees, were required under the law to have established by JULY
1, 2007, SECTION 125 HEALTH PLANS and offer health care coverage to their employees.
Section 125 is the section of the INTERNAL REVENUE CODE of 1986 which allows
for pre-tax deductions by employers for health insurance.
Employees will have health insurance premiums deducted each pay period before tax. Employees
can choose not to participate in their employer-sponsored plan but must get health insurance affordable to them before December
31st, 2007 or lose their personal exemption on their Massachusetts Tax return. For a single person, that translates to a loss
of refund of about $219.00. For tax year 2008, the penalty can be as
much as $912.00 and for 2009 ... $89.00 per month or $1,068.00
for those without health insurance.
Employers are also required to make a FAIR SHARE CONTRIBUTION toward
the premiums for each employee that elects to participate in their SECTION 125 HEALTH PLAN, and
though no set percentage is required, EMPLOYERS who DO NOT offer health insurance to their employees
face a penalty or surcharge of $295.00
PER EMPLOYEE, PER YEAR, for every employee not covered by Health Insurance.
This 2007 law is ENFORCED through the Massachusetts Department of Revenue and the Division of Unemployment Assistance. Among the information returns Massachusetts residents received in early 2008 for their
2007 Tax Returns is form 1099-HC which was needed for HEALTH
INSURANCE informaton required to complete your return. A SCHEDULE
HC with your subscriber information must accompany your MASSACHUSETTS FORM 1
or FORM 1-NR / PY tax return or a statement of indigence or to claim a religious exemption
from the new health insurance mandate.
Again, the premiums deducted from employees by employers is based on pre-tax dollars, so there are savings to both the employer and the employee. For More
Information on the NEW MANDATORY HEALTH INSURANCE LAW in MASSACHUSETTS, visit the
COMMONWEALTH CONNECTOR
Authority.
For questions on tax benefits or consequences of Section 125 Cafeteria
Plans and / or deductibility of your health insurance premiums on your state and federal
tax returns for 2008 and beyond, ask your TAX PREPARER or visit the MASSDOR and the IRS
| The NEW Health Insurance Law in Massachusetts |
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| Affects All Massachusetts Taxpayers for 2007 Returns |
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