Cyber security: it’s not if, but when

Posted by Juan Carlos Hernandez on Oct 25, 2017

Cyber security: it’s not if, but when

In 2003 The Security Rule was enacted by the Department of Health and Human Services. Standards for the security of electronically protected health information were set. Six years later Massachusetts filed regulations to protect personal information of residents of the Commonwealth. In 2015, the Federal Trade Commission sued Wyndham Worldwide Corporation for their lack of data security, which led to millions of fraudulent dollars charged on consumers’ cards, and hundreds of thousands of dollars, along with account information was sent to a registered website in Russia. This year alone, Target, Sonic, and Equifax all had security breaches, compromising millions of consumers’ private information.

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Topics: disaster, fraud prevention, information technology, cybersecurity, consulting

Harvey Disaster Declarations and Additional Tax Relief

Hurricane Harvey Tax Update

In August 2017, at the request of Texas Governor Abbott, President Trump began making disaster declarations for Texas counties expected to be impacted by Hurricane Harvey.  Additional Texas counties have been added to the Harvey disaster declaration list through October 2017 which include Dallas and Tarrant counties. (For a complete list of the Hurricane Harvey covered disaster areas:  https://www.irs.gov/newsroom/help-for-victims-of-hurricane-harvey) This declaration permitted the IRS to postpone certain deadlines for taxpayers who reside or have a business in the Presidential Disaster Areas. (For additional information click here for our Hurrican Harvey communication)

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Topics: Accounting Tips, Tax, hurricane harvey, IRS, disaster, relief

The Aftermath of Hurricane Harvey – Individual Casualty Losses

Hurricane Harvey Tax Update

As the victims of Hurricane Harvey continue to put their lives back together, an area of concern is casualty losses. In this communication we discuss:

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Topics: Accounting Tips, Tax, hurricane harvey, IRS, disaster, relief

Harvey Victim Relief — Tax Treatment

Posted by lgtcpa on Sep 20, 2017

Source: "Employer Sponsored Disaster Relief Benefits" by Postlethwaite & Netterville ("P&N")

HOW EMPLOYERS CAN HELP EMPLOYEES

Many employers are now looking for ways to help employees in the wake of this crisis. A few ways employers can help employees include: 

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Topics: Accounting Tips, Tax, Financial, hurricane harvey, IRS, disaster, relief

Relief Due to Hurricane Harvey Qualified Employer Retirement Plans

Hurricane Harvey Tax Update

We continue our communications regarding relief available to those impacted by Hurricane Harvey. This week we discuss, in general, relief available specifically to qualified employer retirement plans, specifically loans and hardship distributions, for those qualifying due to Hurricane Harvey.

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Topics: Accounting Tips, Tax, hurricane harvey, IRS, disaster, relief

Harvey Tax Relief Information

Hurricane Harvey Tax Update

On Wednesday, August 23, 2017, the lives of Texans all along the Texas Gulf Coast were forever changed by Hurricane Harvey. We know that many of you, including family and friends, have been personally impacted by Harvey and we are praying for strength, comfort, and hope for all.

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Topics: Accounting Tips, Tax, hurricane harvey, IRS, disaster, relief