If you’re receiving a tax refund this year, the IRS reminds you that you can use it to buy U.S. savings bonds directly from the IRS. Here are the details.

* You may purchase up to $5,000 in U.S. Series I savings bonds.

* The total amount of bonds you purchase must be a multiple of $50. Any refund over the specified bond purchase amount can be deposited in your bank savings account, or you can request a check by mail.

* Bonds will be issued in your name. If you’re married and file a joint return, the bonds will be issued in the names of both spouses.

* The bonds will be sent to you by mail.

* You select this option when filing your 2013 return by using Form 8888, “Direct Deposit of Refund to More Than One Account.”

* Form 8888 gives instructions on selecting this option and specifying the amount of refund you want to use to buy savings bonds.

For additional information about Series I savings bonds, go to www.treasurydirect.gov.

If you do any of the following, you will need an Employer Identification Number (EIN) from the IRS:

If you operate your business as a corporation or partnership.

If you file reports for employment taxes, excise tax, or alcohol, tobacco and firearms.

If you have even one employee.

If you have a self-employed retirement plan.

If you operate as any of several other organizations.

Acquiring an EIN is very quick and simple. You do not need to complete the Form SS-4 unless you prefer to. Go to www.irs.gov. Once there, use the search box and type in EIN online. You will be taken to the page that allows you to answer questions online and you will get your EIN upon validation of your answers. You will be able to download and print your confirmation notice.

If you need assistance, please contact our office. We are here to help you.

If you can’t file your 2013 tax return by the April 15 deadline, file for an extension to get until October 15, 2014, to file. You can request the extension on paper, by phone, or online. You don’t need to explain why you need more time, but be aware that an extension doesn’t give you more time to pay taxes you owe. To avoid penalty and interest charges, taxes must be paid by April 15.

The rules for filing 2013 tax returns are straightforward for most people. Marital status, age, and income level are generally the determining factors. Here’s a quick overview of the income levels at which a 2013 return is required.

*Single individual…..$10,000

*Single individual, 65 or older…..$11,500

*Married individual, separate return, regardless of age…..$3,900

*Married couple, joint return…..$20,000

*Married couple, joint return, one spouse 65 or older…..$21,200

*Married couple, joint return, both spouses 65 or older…..$22,400

*Head of household…..$12,850

*Head of household, 65 or older…..$14,350

*Qualifying widow or widower (surviving spouse)…..$16,100

*Qualifying widow or widower (surviving spouse), 65 or older…..$17,300

Different IRS rules govern filing for dependents, those who owe special taxes (e.g., self-employment tax), children under age 19 and noncitizens. Also taxpayers due a refund should file regardless of income level.

For more information or filing assistance, contact our office.

Early this year, review the amount of income tax you’re having withheld from your wages to see if it should be adjusted. While you must meet minimum tax payment requirements, don’t overwithhold or you’ll be giving the IRS interest-free use of your money for a year. Don’t underwithhold either, or you face penalty and interest charges on the underpayment.

Your children may need to file a 2013 income tax return. A return is needed if wages exceeded $6,100, the child had self-employment income over $400, or investment income exceeded $1,000. If the child had both wages and investment income, other thresholds apply. Contact us for more information or filing assistance

Nearly every company, large or small, has to file Form 1099-MISC with the IRS and send a copy to recipients by January 31, 2014.

You use Form 1099-MISC to report miscellaneous payments to nonemployees. This includes fees for services paid to independent contractors, such as consultants, lawyers, cleaning services, and others. Generally, you don’t report fees paid to corporations, but there are exceptions (payments to lawyers, for example).

For details or filing assistance, contact our office.

Form 1099-K is a new information return sent to businesses by “payment settlement entities” reporting the amount of credit card and other electronic receipts that were processed for the business. The IRS also receives a copy of Form 1099-K and cross checks the reported amounts with the business’s total income reported on its tax return. Where the numbers don’t seem to make sense, the IRS sends notices to businesses telling them they “may have underreported gross receipts.” Notices go on to say “This is based on your tax return and Form(s) 1099-K, Payment/Merchant Cards and Third Party Network Transactions that show an unusually high portion of receipts from card payments.”

The IRS has sent thousands of letters labeled “Notification of Possible Income Underreporting” to small business owners. The notification project is ongoing as part of the IRS’s campaign to deal with the “tax gap,” the difference between taxes owed and taxes actually collected.

If you receive a notice, contact us immediately so that we can determine what response is required.

Thieves and con artists thrive during the holidays. All that good cheer, all those weary and distracted shoppers, all that money being spent – it’s a fraudster’s paradise. Here are a few tips to keep the bad guys at bay, whether you’re shopping online or at your local mall.

• Stick with reputable merchants. During the holidays, your e-mail in-box may be filled with unsolicited messages urging you to “click here.” Don’t. Scammers set up websites that mimic legitimate stores. Their sole purpose is to extract personal information from unwary consumers. If you don’t know the merchant, either type in the web address yourself or, better yet, shop elsewhere.

• Take care with charities. Of course, many legitimate church groups and nonprofit organizations engage in fund-raising activities during the holidays. If you’re confident that the group is above-board, go ahead and donate. But if you catch a whiff that something’s not quite right – the solicitor is too pushy or the guy at your front door evades reasonable questions about the organization – hold on to your money.

• Be attentive at the mall. Thieves love to lurk in and around shopping malls. So be aware. Take only the cash and credit cards you need to make purchases. Don’t be fooled by someone selling $10 Rolex watches or $50 Armani suits. Some crooks even hang out in store parking lots stalking potential targets. In one scam, a thief will approach a woman in a parked car and inform her that the vehicle is damaged. When she gets out to check, the thief’s partner absconds with the lady’s purse. If an activity or person seems suspicious, call 911 or mall security.

• Be on guard with gift cards. These little pieces of plastic can be great stocking stuffers, but they’re also prime targets for crooks. Scammers have been known to copy numbers from gift cards hanging in store displays. They then call a toll-free number to learn when the card is activated and use the card number to make purchases. One way to avoid this is to buy from retailers who keep gift cards behind the checkout register.