2007 rebate checks? You'll need a valid social security number to get a rebate. The IRS will send a notice informing you how much you'll get and when it will arrive.  If you had your 2007 refund direct deposited, the IRS will wire the rebate to account noted on your 2007 return. If you filed for an extension, your rebate will be delayed. If you owe back taxes, the IRS will grab the rebate to pay your tax bill.

Questions: What is the federal minimum wage? Is an appointment required to have my taxes prepared? Can you e-file my return? What if I can't pay my taxes? What if I don't file my taxes? How do I report IRS scams? When can I expect my 2007 rebate check? How do gifts affect employment tax? Answers: What is the federal minimum wage? On May 25, 2007, President Bush signed into law H.R. 2206, the “War Funding” bill. Included in this bill was the “Fair Minimum Wage Act of 2007,” an amendment to the Fair Labor Standards Act. The new legislation increased the federal minimum wage for covered, non-exempt employees, currently $5.15/hour in three stages: •$5.85/hour, effective July 24, 2007 •$6.55/hour, effective July 24, 2008 •$7.25/hour, effective July 24, 2009. States with no minimum wage requirements may use the federal guidelines. If an employer is covered by both federal and state law, it must follow the law that is more favorable to employees. Florida minimum wage is currently $6.79/Hour. Top Is an appointment required to have my taxes prepared? No. Once you have complied your tax data, you may mail it in or drop it off. You may also scan your tax documents and either email or fax them to the office. Either way, please be sure to include a phone number where you can be reached in case there are questions concerning your tax preparation. Top Can you e-file my return? We have the technology to e-file various types of tax returns, but we only e-file returns which have been prepared by the firm. Prior to e-filing your return, you are required to sign a form authorizing us to electronically transmit your return. NOTE: Only current year returns are eligible for e-filing. Top What if I can't pay my taxes? The failure to pay penalty is .5% for each month (or part of a month) the payment is late. The maximum penalty for failure to file is 25%. If 90% of the tax was paid by the original due date of the return, a penalty will not be charged but interest will be charged on the remaining balance. A taxpayer can file Form 9465, requesting the IRS to enter into an installment agreement. An installment agreement does not stop the accrual of interest at the current rate on the unpaid tax. The late payment penalty will be .25% instead of .5% per month. NOTE: The IRS charges a fee of $105 for entering into an installment agreement. Top What if I don't file my taxes? A failure to file penalty is based on tax owed. Therefore, if no tax is due, no penalty will be imposed on a late filed return. If tax is due, the penalty is 5% per month (or partial month) up to a miximum of 25%. The minimum penalty for filing more than 60 days late is the smaller of $100 or 100% of tax due with the return. Top How do I report IRS scams? The IRS warns against cyber scams. One type of email message informs taxpayers their returns will be audited. Another offers information on tax law changes. In each case, the recepient is directed to click on a link provided by the sender which will allow access to the taxpayer's personal computer and personal information. If you receive such a notice, DON'T FALL FOR IT. Forward the solicitation to phishing@irs.gov then delete the message. If some calls saying they need your bank account information so they can deposit the upcoming tax rebate, DON'T BE FOOLED. The IRS does not contact taxpayers via unsolicited calls. Top When can I expect my 2007 rebate check? Rebate checks will begin going out in May. You should receive a notice from the IRS informing you how much you'll get and when it will arrive. If you had your 2007 refund direct deposited, your rebate will be wired to the account listed on your 2007 tax return. If you filed for an extension, your rebate check will be delayed. You'll need a valid social security to receive a rebate. Top How do gifts affect employment tax? In general, any amount transferred from the employer to an employee, whether directly or indirectly, is subject to social security, Medicare, income tax withholding, and federal unemployment taxes. Exceptions are “de minimis” fringe benefits. De minimis fringe benefits may include traditional holiday gifts (turkeys); occasional typing of personal letters; coffee and soft drinks; and occasional meal money or local transportation fare paid to enable an employee to work overtime. Further examples and information on de minimis benefits are provided in section 2 of Publication 15-B, Employer’s Tax Guide to Fringe Benefits (www.irs.gov/ir-pub/p15b.pdf. Cash or cash equivalents not excluded may be cash (whether currency, check, direct deposit, etc.) and cash equivalents (gift cards) are taxable compensation and must be reported as supplemental wages, regardless of the amount, for which employment taxes are owed. Both the employee and the employer shares of social security and Medicare taxes are owed. The employer is responsible for the employee portion if the deduction was not passed on to the employee. For examples on how to figure tax liability and corresponding wage amounts in this situation, see section 7 of Publication 15-A, Employer’s Supplemental Tax Guide (www.irs.gov/pub/irs-pdf/p15a.pdf. Top