Deadline changes aim to streamline tax filing

SPOTLIGHT: CPAs/Financial Services
November 29, 2016
MIchael Petro
Buffalo Business First

Michē Needham, CPA, a 14 year tax veteran, discusses how monumental these changes are.

“They’re trying to eliminate people filing their tax returns based on estimates or having to file late,” [Needham] said. “It always ends up being more work for practitioners if we have a client who has all of their information but, for instance, might be missing a K1 (Form 1065) for a partnership. ... It can compromise the taxes due for an individual. If they don’t have it in by April 15, they can be hit with a penalty once that K1 comes in and shows more income.”

Read the full article on Buffalo Business First's website.

Michē C. Needham, CPA is an experienced tax professional responsible for development and implementation of tax engagement strategies.  She works with business and individual tax clients in order to assure conformity with federal and state tax standards and to minimize taxes and related costs.  Michē has experience in all areas of U.S. Federal and New York State Taxation and performs tax related services to C and S corporations, partnerships and individuals.