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IRS Offers Tips for Year-End Giving

WASHINGTON — Individuals and businesses making contributions to charity should keep in mind some key tax provisions that have taken effect in recent years, especially those affecting donations of clothing and household items and monetary donations. Rules for Clothing and Household Items To be deductible, clothing and household items donated to charity generally must be […]

ID Theft: Avoiding and Detecting

The South Carolina Department of Consumer Affairs in conjunction with the South Carolina State Library is offering a free webinar to provide information on avoiding and detecting identity theft.  The webinar will be conducted on Tuesday, December 18, 2012 10:30 AM – 11:30 AM EST. The webinar is free and open to the public.  Click […]

Plan Now to Get Full Benefit of Saver’s Credit; Tax Credit Helps Low- and Moderate-Income Workers Save for Retirement

WASHINGTON — Low- and moderate-income workers can take steps now to save for retirement and earn a special tax credit in 2012 and the years ahead, according to the Internal Revenue Service. The saver’s credit helps offset part of the first $2,000 workers voluntarily contribute to IRAs and to 401(k) plans and similar workplace retirement […]

South Carolina DOR cyber theft victims can now sign up for Identity theft protection without a computer

According to an article published in the State Newspaper, South Carolina tax filers who were subject to the social security number theft at the Department of Revenue will have a day to be able to sign up for the ProtectMyID identity theft protection without a computer.  Read the article for details. Computer technology has become […]

IRS Offers Tax Tips for “The Season of Giving”

December is traditionally a month for giving generously to charities, friends and family. But it’s also a time that can have a major impact on the tax return you’ll file in the New Year. Here are some “Season of Giving” tips from the IRS covering everything from charity donations to refund planning: Contribute to Qualified […]

Recommended actions in the wake of the SCDOR cyber hacking incident

It took a couple of weeks for the public to be notified of the theft of South Carolina tax information and a couple more weeks for useful information to begin to trickle out.  With that as the foundation of this issue it is apparent that speed is not going to save the day.  So there […]

2013 Standard Mileage Rates Up 1 Cent per Mile for Business, Medical and Moving

WASHINGTON — The Internal Revenue Service today issued the 2013 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2013, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 56.5 […]

Mandiant report & press conference on the South Carolina Department of Revenue cyber hacking incident

The released version of the Mandiant report can be found here.  Not much volume in the report.  It appears to be more of an executive summary.  The entire document is only 4 pages long (and one of those pages is the cover page). But it doesn’t really matter much since the report mostly focuses on […]

South Carolina hacking incident report released, heads roll

This looks as bad as we suspected it would be.  We have not read the report but several news outlets are reporting key details. The Post and Courier in Charleston has the best summary right now 1.  Yes, the thieves stole bank account information in addition to social security numbers. 2.  The State knows exactly […]

SC Department of Revenue hacking: What’s known, not known 3 weeks later

As we try to find out what has happened, and who it has happened to, in the SC Department of Revenue cyber hacking cases the details have been painfully slow in coming to light. State officials have drifted into basic radio silence with no new press conferences since the initial flurry near the beginning of […]