Filing Deadline for Employer Forms W-2 and 1099-MISC

For tax year 2016, the new deadline for filing employer copies of Forms W-2 and 1099-MISC is January 31, 2017.  In the past, employers had until February 28 to file these forms.   The new filing date, stated in a new federal law under the Protecting Americans from Tax Hikes (PATH) Act of 2015, gives the IRS more time to identify and prevent refund fraud.

The January 31 deadline to furnish employee’s copies of Forms W-2 and 1099-MISC remains the same.

Changes to the Federal Application for Federal Student Aid (FAFSA)

College students need to complete the Application for Federal Student Aid (FAFSA) to qualify for any needed financial aid. Two new changes have taken affect for the new FAFSA process:

  • You can now submit the FAFSA form as early as Oct 1st., instead of the previous Jan 1 submission date.  This is not the deadline, but students who apply earlier tend to receive more aid.
  • Going forward, you can base your answers on your federal tax return from the … Continue reading »

2016 Food Drive A Big Success

This year’s Borgida & Company Food Drive was another big success.

Along with over 1,000 pounds of food donated to M.A.C.C. Charities Food Pantry, the firm and its clients donated over $750 in monetary contributions as well. MACC employees shared their appreciation and commented on how great the need was. On the day that we made our delivery, they had stocked up fifty families.

We would like to thank everyone who donated towards the food drive this year. (See pictures below.)

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Borgida Celebrates Milestone

Local accounting firm celebrates a milestone in their 50th anniversary.

Borgida & Company, P.C., Certified Public Accountants, partners Peter Bartolotta of Niantic; Aaron Johnson of South Windsor, and Thomas Scanlon of Glastonbury and staff celebrated the firm’s 50th Anniversary at a cocktail reception at Cavey’s on Thursday, October 20th.

At the event Mayor Jay Moran presented the company with an official citation saying “that the Town of Manchester does hereby offer its sincerest congratulations to Borgida & Company” and that … Continue reading »

New IRS Email Scam

A new IRS scam has recently emerged. Fraudulent emails are being sent out asking taxpayers to pay a penalty for not having the required healthcare coverage imposed by the Affordable Care Act.

The IRS sends taxpayers notices by mail only, BUT unfortunately, there are some fraudulent letters also being sent by regular mail.

Please be aware:

  • IRS does not contact taxpayers by phone, email or text
  • IRS does not require payment from taxpayers with prepaid debit cards or an … Continue reading »
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