Author Archives: schatzi

Jan
04
2023

How To Amend Your Tax Returns The Easy Way

It sometimes happens that after mailing in your tax returns, you realize, to your horror, that you have made a mistake (or two). If this sounds familiar it may be time to talk to a tax professional to get your returns amended. In some instances government tax reps will correct basic math errors and even accept basic returns that haven’t included all their paperwork. If that happens to you, great! If not, tax professionals are standing by to help.

But if you know you made a mistake with what you put down as your filing status, the amount of income that you received the past year, an error on your deductions or your credits, you will definitely need to go ahead and look into how to file for an amended tax return. The process is typically very easy and simple, depending on what type of error you made on your original tax return papers.

Filing an amended return requires Form 1040X if you are just correcting mistakes made on your 1040, 1040A, 1040NR, 1040NR-EZ or 1040EZ. These forms can be downloaded in PDF format from the IRS website. If you will be filing any additional tax relief returns, it is important that you wait until you receive the amount promised from your original refund before you file additional claim forms.

If you owe taxes and the due date has not passed yet, you will need to file a Form 1040X and make sure that you pay your taxes by the due date so that you are not faced with a lot of penalties and extra interest charges that could have easily been avoided. Due dates that fall on the weekend or on a government celebrated holiday, your due date will actually be on the very next business day (Monday through Friday).

If you require the assistance of a service center to help you fill out your tax amendment forms, you can find the address and other contact information for the location that is closest to you by looking at the Form 1040X instructions that are listed on the IRS website. You can also call the IRS customer service center and a tax professional can address your concerns over the phone.

There may be a situation come up when amending your tax return that may require the help from a legal advisor in order to get the refund amount that you deserve without any penalties. A tax lawyer is always a good investment when dealing with legal issues regarding the IRS and their paperwork. Some of the reasons why you may need the assistance of a professional lawyer are if you need someone to handle a highly complex, technical or legal tax issue that you can not solve on your own, if you have a taxable estate or you need to configure a estate planning strategy, and if you are planning on bringing a suit against the IRS, you will definitely require the help of a legal advisor.

These lawyers can also assist you with plans to find independent review of your case before you face US Tax Court, if you happen to be under criminal investigation with the IRS, or if you have every committed tax fraud, which would include claiming false income, deductions or credits. If this is your unfortunate circumstance then you you will need tax help from a tax lawyer in order to resolve your case.

It is important that you ask the lawyer that you plan on choosing if they have any type of experience working with similar cases to your own, and if they will, indeed, be able to help you with your own legal tax needs. If not then they may be able to refer you to another tax attorney that can help you with your case.

As you are filing your Form 1040X it is important that you remember to attach any copies that you may have of any original forms or schedules that you are changing or will need to be changed due to the amendment. This includes any W-2 forms that you may have as well as any you received after you initially filed your tax return. You can find all of the necessary tax forms that you will need by calling 800-829-3676 or visiting the IRS website. Keep in mind that amended tax forms can not be processed online by using the e-file system, even if you used this system to file your initial tax return. The usual processing time for a Form 1040X is typically eight to twelve weeks from the date that the IRS received your forms.

Dec
05
2022

Involving Finance in Six Sigma – Do it Early and Fully

By involving the finance department from the early stages of the project, you can have appropriate data at all stages to ensure that the project is on the right track.

Involvement of Finance

Throughout the project phases, the finance department works with the various teams to identify the benefits of the project. Teams benefit from the additional input by the finance expert’s participation. They agree upon the calculation of benefits upon implementation of the project. Before transferring the ownership of the solution to the process owner, a second review of the expected benefits is done using the gathered data.

The Belts do not have to take care of this function, which would be done by the finance personnel. After the project is executed, a final review is done to verify if the expected benefits are being achieved. If there is a deviation, it is discussed with the process owner, the reason for its failure identified, and areas of improvement marked. 12 months after the implementation, the company finds and reports the benefits. After that, a baseline is calculated using the improved key performance indicator (KPI).

Only those benefits beyond that baseline are reported. If there seems to be any improvements needed, a new Six Sigma project is generated. Some benefits are also achieved during the DMAIC process. All benefits, as well as key performance indicators, are reported every month in a prescribed format.

The KPIs that need to be improved are then taken care of. A comparison of both with the target set is done to find any improvements.

Here are some of the advantages of full involvement of the finance department:

Reliability

The finance department will be calculating the benefits honestly. There will be no misrepresentation of the data for the sake of records. Rather, they will report correctly, as savings and cost reductions are a matter of importance for them.

With the finance department involved in finance activities, the responsible team would be free to concentrate on improvements expected of them.

Standardization

Standardizing the calculation of benefits is constructive. By have consistency in the data generated for comparison, the results can be reliable and meaningful.

Incorrect Benefits

A process owner calculating the benefits may not be considering the effect that the process has outside the project. This effect has to be calculated for the overall success and profit of the organization.

Audits

Like other financial activities, the project results and benefits are also available to internal audits and other reviews of benefits.

Budgets

A successful process improvement should be included in the next financial budget. This will ensure that the improved KPIs become a permanent part of the system.

Proactive Finance

As a member of the finance department will be involved in the project, they will be in a better position to understand the business, and the factors and results influenced by the project.

The department will have a proactive approach to overall business improvement.

Accountability

The finance department is responsible for calculating and reporting the benefits of the process changes at various departments in the organization. By using their financial knowledge, they are in a position to ensure that the Six Sigma project has accomplished more than the previous year.

Six Sigma projects can be successful if implementation is linked with quantifiable financial results. By involving the finance department fully from the beginning, companies can ensure that project becomes successful financially.

Nov
03
2022

How To Amend Your Tax Returns The Easy Way

It sometimes happens that after mailing in your tax returns, you realize, to your horror, that you have made a mistake (or two). If this sounds familiar it may be time to talk to a tax professional to get your returns amended. In some instances government tax reps will correct basic math errors and even accept basic returns that haven’t included all their paperwork. If that happens to you, great! If not, tax professionals are standing by to help.

But if you know you made a mistake with what you put down as your filing status, the amount of income that you received the past year, an error on your deductions or your credits, you will definitely need to go ahead and look into how to file for an amended tax return. The process is typically very easy and simple, depending on what type of error you made on your original tax return papers.

Filing an amended return requires Form 1040X if you are just correcting mistakes made on your 1040, 1040A, 1040NR, 1040NR-EZ or 1040EZ. These forms can be downloaded in PDF format from the IRS website. If you will be filing any additional tax relief returns, it is important that you wait until you receive the amount promised from your original refund before you file additional claim forms.

If you owe taxes and the due date has not passed yet, you will need to file a Form 1040X and make sure that you pay your taxes by the due date so that you are not faced with a lot of penalties and extra interest charges that could have easily been avoided. Due dates that fall on the weekend or on a government celebrated holiday, your due date will actually be on the very next business day (Monday through Friday).

If you require the assistance of a service center to help you fill out your tax amendment forms, you can find the address and other contact information for the location that is closest to you by looking at the Form 1040X instructions that are listed on the IRS website. You can also call the IRS customer service center and a tax professional can address your concerns over the phone.

There may be a situation come up when amending your tax return that may require the help from a legal advisor in order to get the refund amount that you deserve without any penalties. A tax lawyer is always a good investment when dealing with legal issues regarding the IRS and their paperwork. Some of the reasons why you may need the assistance of a professional lawyer are if you need someone to handle a highly complex, technical or legal tax issue that you can not solve on your own, if you have a taxable estate or you need to configure a estate planning strategy, and if you are planning on bringing a suit against the IRS, you will definitely require the help of a legal advisor.

These lawyers can also assist you with plans to find independent review of your case before you face US Tax Court, if you happen to be under criminal investigation with the IRS, or if you have every committed tax fraud, which would include claiming false income, deductions or credits. If this is your unfortunate circumstance then you you will need tax help from a tax lawyer in order to resolve your case.

It is important that you ask the lawyer that you plan on choosing if they have any type of experience working with similar cases to your own, and if they will, indeed, be able to help you with your own legal tax needs. If not then they may be able to refer you to another tax attorney that can help you with your case.

As you are filing your Form 1040X it is important that you remember to attach any copies that you may have of any original forms or schedules that you are changing or will need to be changed due to the amendment. This includes any W-2 forms that you may have as well as any you received after you initially filed your tax return. You can find all of the necessary tax forms that you will need by calling 800-829-3676 or visiting the IRS website. Keep in mind that amended tax forms can not be processed online by using the e-file system, even if you used this system to file your initial tax return. The usual processing time for a Form 1040X is typically eight to twelve weeks from the date that the IRS received your forms.

Oct
03
2022

Connecticut Real Estate Agents

For people who are at all interested in Connecticut real estate, there are Connecticut real estate agents who are willing to assist and lend a hand. It should not be hard to choose the right agent who can help you find the right real estate for your purposes.

Who are these Connecticut real estate agents?

Connecticut real estate agents are also known in the real estate business as real estate brokers. They conduct real estate transactions with regards to any kind of real estate in the said area or location. These agents could be employed by a group or company who handles this kind of business. However, Connecticut real estate agents could also be the owner and the manager of their own agency.

Connecticut real estate agents assist sellers or buyers in marketing or in purchasing pieces of real estate property. There are agents who are mainly focused on helping clients market their properties and there are also agents who specialize in the buying process. However, there also are some agents who could do both. Connecticut real estate agents are required by law to have a license before they practice.

What do Connecticut real estate agents do?

The most basic thing that a Connecticut real estate agent does is to assist their clients in their Connecticut real estate transactions. They should be able to have the capability to let their clients purchase or market their Connecticut real estate property at the best possible price. These Connecticut real estate agents represent their clients during the whole transaction.