Platinum HCM

If you're using Paychex or ADP payroll services combined with an HR program, you're probably paying too much for your services. Platinum HCM offers your business better personalized services at a reasonable and affordable price. Here is a question asked by one of our payroll clients. If you have any questions about our payroll and HR programs, feel free to visit HR page on our website: https://platinumpayrollhcm.com/human-resource-management/ or send us an email: [email protected] or simply call us at (951) 849-7046. We look forward to hearing from you.

Platinum HCM is more than just a payroll agency, we are a service-based solutions company with a passion for providing quality services to keep your company compliant. Our HR Support Center and HR On-Demand is one of the many ways we accomplish that. Take a look at our video

HR Support Services

Greetings to All my Facebook Friends, Well, it’s that time of year again. The weather is changing, and the holidays are upon us. I hope you had a great year in 2019, and I wish you only the best in 2020. Not only does this time of year bring a change in weather, it also means that the president, like him or not, along with Congress and the Internal Revenue Services are making changes to the U.S. Tax Code, yes, there are more tax changes for 2019. There were many changes in th...e 2018 tax year; however, there are many more changes in 2019, some good, some bad; for example, (the tax penalty for NOT have health insurance has been eliminated, so goodbye to the $625 penalty). What a relief! If your tired of paying high prices for tax preparation, please give us a call, we offer reasonable and affordable prices, plus, we’re open year-round, Mon-Fri. Our company has been around since 1967 and we have over 110 years of combined tax preparation experience. I have attached my business card with all my information. Please feel free to call us with your questions, or to make an appointment. We look forward to serving you and serving you well. Tony https://platinumpayrollhcm.com/services-page/taxes/

2019 Due Diligence Requirements (Required by law under the tax code) Platinum Tax & Bookkeeping: As your tax professional, we are required to ask you additional questions next year (New and Returning Clients) that are required by the Tax Cuts and Jobs Act. Tax preparers must collect new information from clients who qualify for any of the following tax credits: Earned Income Tax Credit (EIC) Child Tax Credit (CTC)... American Opportunity Tax Credit (AOTC) Head of Household filing status (HOH) In addition to interviewing you and gathering the required information needed to answer all of the due diligence questions on Form 8867, Paid Preparer’s Due Diligence Checklist, we are now required to ask additional questions if the information you provide seems incorrect, incomplete, or inconsistent. So please don’t think that we’re trying to be difficult, IT’S NOT US! It’s the IRS’s way of cracking down on fraud. As tax preparers, we must keep copies for three years (either paper or electronic) of any documents provided by you that were relied on to determine whether any child is a qualifying child. We must also keep all worksheets showing how the credit was computed. Penalty for Failure to Perform Due Diligence For returns filed in 2019, the penalty is $520 per failure to meet the due diligence requirements. This penalty applies to each credit that is subject to the due diligence requirements. As a result, a single return could contain more than one $520 penalty! IRS Letter 5025 The IRS is sending letters to tax professionals who have submitted returns with questionable claims for refundable credits and head of household status errors. Letter 5025 is generated as an educational effort to notify preparers who submit a high number of returns containing these credits that they may not have met the due diligence requirements. While the letter is informational only, it serves to notify the tax professional that the IRS is monitoring returns prepared by them. The letter advises tax preparers to educate themselves on the due diligence requirements by taking an online training module. Form 8867 If you’re curious about the list of question that we may have to ask you, you can view them on the due diligence checklist at this link: https://www.irs.gov/pub/irs-pdf/f8867.pdf If you have any questions, please feel free to give me a call at: (951) 849-7046 Mon-Fri 9:00am to 5:00pm

Happy 4th of July from Platinum HCM #platinumhcm #platinumhrsupportcenter www.platinumpayrollhcm.com