 News Letter
& Profile
Judy K Klevorn, E. A.
Since
founding Hobbs & Bair, a Tax preparation and tax consulting firm in the Ann Arbor
area, Judy K. Klevorn has represented hundreds of individual taxpayers and small
businesses, many of which have employed her services for more than 20 years. As an
Enrolled Agent, she is licensed by the United States Treasury Department to represent
taxpayers before the Internal Revenue service in all areas of taxation and representation.
She is required to adhere to a strict code of ethics and must complete at least 72 hours
of Continuing Professional Education (CPE) over the three-year enrollment cycle to remain
active. This must include at least 2 hours of Ethics CPE each year.
Ms. Klevorn is a
Fellow of the National Association of Enrolled Agents Education Foundation, which
demonstrates the she has successfully completed a three-year training program certifying
her professional knowledge and expertise in all areas of Tax Representation and practice
before the IRS. She is a sought after tax instructor, having taught Continuing
Professional Education workshops to other tax professionals.
Professional
Memberships:
- National Association of Tax Professionals (NATP)
- Past Director of the Michigan Society of Enrolled Agents
- Michigan Society of
Enrolled Agents Education Committee. Developed education courses for Enrolled Agents,
CPA’s and Tax Attorneys throughout Michigan.
Education:
- Attended the university of Michigan
- Eastern Michigan University- B.B. A. in Accounting with the
Touche Ross award for the top Accounting student.
- Fellow of the National Association of
Enrolled Agents Education Foundation.
Specializing in:
- Individual Tax Returns
- International Tax Returns
- Small Businesses
- Partnerships, Corporations and LLC’s
- Accounting, Bookkeeping and IRS Audit Representation.
- Over 30 Years Experience
- Federally licensed to Practice Before the IRS
To get a copy of my 2009 year end tax update, e-mail me by doing
a “Ctrl click” - on my e-mail link jkklevorn@taxlady7.com
For a free tax consultation or tax questions, call
877-764-1271.
While most preparers provide honest service to their
clients, the IRS urges taxpayers to be careful when choosing a preparer –– as
careful as they would be choosing a doctor or lawyer. Even if someone else prepares a tax
return, the taxpayer is ultimately responsible for all the information on the return. For
that reason, taxpayers should never sign a blank tax form, and they should review the
return before signing it and ask questions on entries they don't understand.
Helpful Hints When Choosing a Return Preparer
- Be cautious of tax preparers who claim they can obtain larger
refunds than other preparers.
- Avoid preparers who base their fee on a percentage of the
refund. Use a reputable tax professional who signs the tax return and provides a copy.
- Consider whether the individual or firm will be around to answer
questions about the preparation of the tax return months, or even years, after the return
has been filed.
- Check the person’s credentials. Only attorneys, certified
public accountants (CPAs) and enrolled agents can represent taxpayers before the IRS in
all matters, including audits, collection and appeals. Other return preparers may only
represent taxpayers for audits of returns they actually prepared.
- Find out if the preparer is affiliated with a professional
organization that provides its members with continuing education and resources and holds
them to a code of ethics.
Reputable preparers will ask to see receipts and will
ask multiple questions to determine whether expenses, deductions and other items qualify.
By doing so, they are trying to help their clients avoid penalties, interest or additional
taxes that could result from an IRS examination
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2009 was a year of many major tax law
legislations
Information for Individuals
- Making
Work Pay Tax Credit. This
tax credit means more take-home pay for many Americans. To make sure enough tax is
withheld from their pay, consult a professional tax preparer. NEW SCHEDULE M
- First-Time
Homebuyer Credit Expands. Homebuyers who purchase in 2009 can get a credit
of up to $8,000 with no payback requirement. NEW FORM 5405
- Money
Back for New Vehicle Purchases. Taxpayers who buy certain new vehicles in 2009 can deduct
the state and local sales taxes they paid or other taxes and fees they paid in states
with no sales tax. NEW SCHEDLUE L
This new schedule also increases the standard deduction by certain real estate taxes,
new motor vehicle taxes or a net disaster loss.
- Education
Benefits. The new “American opportunity
credit” replaces the Hope Credit. This new credit and enhanced
benefits for 529
college savings plans help families and students find
ways to pay higher education expenses.
- The
newly-enacted Worker, Homeownership and Business Assistance Act of 2009. The new law expands the Net Operating
loss provision, and the new legislation extends the Homebuyer Credit to April 30, 2010. it authorizes the credit for long-time homeowners
buying a replacement principal residence, and it raises the income limitations for
homeowners claiming the credit.
- Enhanced
Credits for Tax Years 2009, 2010. Find details on the earned
income tax credit and the additional
child tax credit.
- Increased
Transportation Subsidy. Employer-provided
benefits
for transit and parking are up in 2009.
- Up
to $2,400 in Unemployment Benefits Tax Free in 2009. Individuals should check
their tax withholding.
- $250
for Social Security Recipients, Veterans and Railroad Retirees. The Economic Recovery Payment will be
paid by the Social Security Administration, Department of Veterans Affairs and the
Railroad Retirement Board. NEW SCHEDULE M
- Energy
Efficiency and Renewable Energy Incentives. These credits are back and expanded. Find out what individuals can do to
reap tax rewards.
- Health
Coverage Tax Credit. The credit increases from 65 percent to 80
percent of qualified health insurance premiums, and more people are eligible.
Information for Businesses. Some of
the provisions of the law primarily affect businesses.
- Making
Work Pay Tax Credit. Businesses should use the new withholding
rates for their employees. For pension plan administrators, new optional withholding
procedures are available to supplement the February withholding tables.
- Work
Opportunity tax credit. This
newly-expanded
credit adds returning veterans and "disconnected youth" to the list
of new hires covered by the credit that businesses may claim. Businesses have until
Oct. 17 to request certification for the tax credit for some new hires.
- COBRA:
Health Insurance Continuation Subsidy. The IRS has extensive
guidance for employers, including an updated Form 941, as well as information
for qualifying individuals.
- Energy
Efficiency and Renewable Energy Incentives.
- Net
Operating Loss Carryback. Small
businesses can offset losses by getting refunds on taxes paid up to five years ago. Information
on the carryback, an expanded section 179 deduction and other business-related
provisions, is now available. The Worker, Homeownership And Business Assistance Act
Of 2009 (WHBAA) further expands
the five-year NOL carryback to most businesses.
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