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STRATEGIC ISSUES...ONLINE 
For week of January 22, 2007, Issue #292
Featured Articles:
1.  You Have Until April 17 to File and Pay
2.  Tech Tip Weekly:  Avoiding a Variety of Viruses
3.  Compliance Calendar
 

 
If you would like to have further information on any of these articles, let us know.  We would appreciate receiving your comments and/or suggestions, anytime!
acarroll@pmcpa.com
 

1.  You Have Until April 17 to File and Pay
 
The Internal Revenue Service announced today, taxpayers from across the nation will have until Tuesday, April 17, 2007 to file their 2006 returns and pay any taxes due.
 
You will have extra time to file and pay because April 15 falls on a Sunday in 2007 and the following day, Monday, April 16, is Emancipation Day, a legal holiday in the District of Columbia.
 
The April 17, 2007 deadline will apply to any of the following:
 
-2006 federal individual income tax returns, whether filed electronically or on paper.
 
-Requests for an automatic six-month tax-filing extension, whether submitted electronically or on a paper Form 4868.
 
-Tax year 2006 balance due payments, whether made electronically (direct debit or credit card) or by check.
 
-Tax-year 2006 contributions or a Roth or traditional IRA.
 
-Individual estimated tax payments for the first quarter of 2007, whether made electronically or by check.
 
-Individual refund claims for tax year 2003, where the regular three-year statute of limitations is expiring.
 
Please call our office if you have any further questions about this change.
 

2.  Tech Tip Weekly:  Avoiding a Variety of Viruses
 

The Internet brings the world to your doorstep, but it also brings hoaxters, scam artists, and phishers. Without the right protection, your computer is subject to getting sick from a virus. Viruses come in these different shapes and forms.

  • E-mail virus: This kind of virus reproduces itself by going into the recipient's Address Book, taking down names, and e-mailing itself to tens or hundreds of people at once. It's important to remember that no virus can spread inside an e-mail message. Viruses travel by e-mail, but not inside messages -- they travel in files attached to e-mail messages.
  • Time bomb: This is a virus that is programmed to lie quietly in wait on a computer until the appointed hour, when it "explodes" and causes damage.
  • Trojan horse: This virus masquerades as one kind of program but is really another. The game you thought you downloaded turns out not to be a game at all, but a virus. Trojan horses travel on the Internet by stealth, not by reproducing themselves quickly like other viruses.
  • Worm: This is a virus that quickly makes copies of itself on many computers. Worms infect a security hole in a network, and when they are inside the network, quickly copy themselves from computer to computer. Code Red, the most notorious worm, copied itself to a quarter-million computers during one day in July 2001.

Viruses slow Internet traffic. They clog computer networks. They make computers run more slowly by tying up a computer's processor. They destroy important files. Always be on the alert for viruses, and make sure that antivirus software is installed on your computer.

 


3.  Compliance Calendar


January 26
Employers. Semi-weekly depositors must deposit employment taxes for payroll dates January 20-23.

January 31
Individuals. Individuals who did not pay their last installment of estimated tax by January 16 may file their 2007 1040 returns and pay any tax due without penalty for late payment of last installment.

Businesses. Give annual information statements to recipients of certain payments made during 2006 using Form 1099 or other information return.

Employers. Semi-weekly depositors must deposit employment taxes for payroll dates January 24-26.

Employers. Employers provide employees with copies of Form W-2 for 2006.


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Prangley Marks, LLP
Accountants & Consultants
"The Way We Figure, We Are The Only CPA Firm You Will Ever Need"
11th Floor Bridgewater Place, 333 Bridge Street, NW, Grand Rapids, MI  49504-5356
Phone#:  616-774-9004, Fax#:  616-774-9081