SHAMOKIN - Senior tax advisers Dave Nowroski, Brian Tressler and Benjamen Gerrity from Financial Experts LLC, 131 E. Independence St., completed a three-day conference hosted by the Internal Revenue Service in Washington, D.C.
Participants from across the United States spent three days taking part in seminars and workshops and completing courses on a wide range of tax topics.
According to the IRS, the difference between what is owed to the agency in taxes and what is actually collected, commonly referred to as the "tax gap," is approximately $450 billion. The IRS is stepping up its processes to close the gap, Tressler said.
Unfortunately, for individual taxpayers, this means the IRS may be taking a closer look at everyone's 1040s to ensure they are accurately reporting the correct amount of tax on their return.
Also, 2014 is the start of many new and challenging tax law changes. Beginning Jan. 1, everyone will be required to obtain health insurance coverage. Individuals can begin to register on Oct. 1 at the new Health Care Exchanges.
Financial Experts LLC is formerly InstaCash. It has moved three doors up the street to 131 E. Independence St., which was previously occupied by Trains and Things. For more information, call or text 648-3073, or email financialexpertsllc@gmail.com.