The Internal Revenue Service is warning taxpayers of a new ‘unclaimed refund’ scam. This scam attempts to mislead people into believing they are owed a tax refund. This is another example of identity thieves posing as the IRS in hopes of tricking people into providing valuable personal information – allowing them to steal identities and […]
Intern Introduction – Paige Vandenberg
Paige Vandenberg joined Geenen & Kolean as an intern in January 2023. She is a Junior at Hope College with a dual major in Business and Public Accounting, looking to pursue her CPA after school. Paige is from Fremont, Michigan and graduated from Fremont High School. Although she has enjoyed her time here at GK, […]
Intern Introduction – Henry Evenhouse
Henry Evenhouse joined Geenen & Kolean as an intern in January of 2023. He is a junior at Hope College and is majoring in Public Accounting. Henry was raised in Minocqua, Wisconsin and attended Lakeland Union High School, where he competed in Wrestling and Track & Field. Henry is super excited to get married to […]
Standard Mileage Rate Increases July 1, 2022
The IRS has announced it is making a midyear increase to the optional standard mileage rate. As of July 1, 2022, the standard mileage rate for business travel will be 62.5 cents per mile for the last half of the year (up from 58.5 cents per mile for the first half of 2022). Typically, this […]
Intern Introduction – Anna Mason
Anna joined Geenen and Kolean as an intern in January 2022. She is a Junior from Hope College studying Public Accounting with a minor in Classical Studies. Anna attended a small classical high school in Hudsonville, MI, where she ran cross country and track. Q: What do you hope to learn from your internship? […]
Intern Introduction – Kaylyn Holtrop
Kaylyn Holtrop joined our firm as an intern in January 2022. She is a Junior at Hope College and is majoring in Public Accounting and Business. Kaylyn grew up in Grand Rapids, MI and went to Kenowa Hills High School, where she played basketball and soccer. Kaylyn went on to continue basketball at Hope College […]
Michigan Unemployment Compensation 1099-G Forms Delayed
Several taxpayers will need to hold off on filing their tax returns a bit longer this year. Taxpayers who received Michigan unemployment benefits in 2021 are still waiting on Form 1099-G that reports these benefits. The Michigan Unemployment Insurance Agency (UIA) recently announced that 1099-G forms will not be ready until the end of February […]
Stimulus Payment and Child Tax Credit Letters
In order to be prepared for this tax filing season, be on the lookout for letters from the IRS if you 1) received the third stimulus payment and/or 2) received advanced Child Tax Credit payments in 2021. The IRS will begin sending out Letter 6475 in late January. This letter applies to those who received […]
Issuing Form 1099s
As we enter the new year, it is once again time for trade and businesses to issue Form 1099s. Payments totaling $600 or more (unless specified otherwise) in a year that you make in the course of a trade or business may require you to issue a Form 1099 to the payee. Below is a […]
Year End Payroll
As 2021 comes to an end, we recommend businesses start preparing for year-end payroll forms sooner rather than later. Below are a few suggestions on what to do to get ready for year-end payroll forms: Review employee’s addresses and social security numbers so they are accurate on W-2s. Review Health Savings Account (HSA) and retirement […]