At Christianson we want you to be aware of industry-related legislative changes that may impact your biofuels business. There has been a change to drawback regulations that may qualify your exports for a refund of similar product import tariffs. Here’s how it may impact you: Duty Drawback Simplification Are you currently importing and/or exporting goods as a regular part of business? If so, you could be eligible for a reimbursement of certain duties, internal revenue taxes, and fees collected on the importation of goods. These refunds are allowed upon the subsequent exportation or destruction of goods. The Trade Facilitation and Trade Enforcement Act of 2015 recently underwent an expansion and simplification that allows for increased Read More...
Archives for September 2017
Equifax Data Security Breach and How it Impacts You
It was announced recently that Equifax Credit Bureau has suffered a massive data security breach. This is one of the most significant data breaches in history and it requires affected individuals to be proactive in ensuring their personal information is protected. We want to help by providing you as much information as possible. What Data was Breached? The information that has been compromised includes social security numbers (of 143 million consumers), names, birth dates, addresses, and some driver’s licenses. In some cases, some credit card numbers were also compromised. This information will allow the hackers to do significant damage to the people the breach impacts. What Should I do? First, you should look into whether or not your Read More...
Department of Labor Overtime Rule
At Christianson, we do everything we can to keep our individual and business clients in the know when it comes to legislative changes and updates. On August 31, 2017, the final ruling related to the new Department of Labor (DOL) overtime rule was issued which officially struck down the Obama-era rule. U.S. District Judge Amos Mazzant is saying that the Department of Labor (DOL) set excessively high salary thresholds which were proposed to go from $23,660 to $47,476 annually. Twenty-one states and many business organizations also argued that the salary limit and three year raises were not the intent of Congress. It doesn't look like the Trump administration will appeal this ruling but may decide on a middle ground salary in the Read More...
Scammers Continue To Target Taxpayers
[video_player type="youtube" youtube_remove_logo="Y" style="1" dimensions="560x315" width="560" height="315" align="center" margin_top="0" margin_bottom="20" ipad_color="black"]aHR0cHM6Ly95b3V0dS5iZS96MDBHdHp2VHhBWQ==[/video_player] Even with the tax filing season over for most, the IRS urges taxpayers to stay alert to new schemes involving the tax system. A new scam is linked to the Electronic Federal Tax Payment System (EFTPS). In this case, con artists call to demand immediate tax payment. The caller claims to be from the IRS and says that two certified letters have been return as undeliverable. The scammer threatens arrest if a payment is not made immediately by a specific prepaid debit card. Victims are told the debit card is Read More...