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Bookkeeping • Payroll • Tax Preparation • Government Correspondence

From small business to non-profit (501(c)(3))… from new business to established… we handle the numbers so you can concentrate on the business!

AS of York caters to small business owners. Because you’re in business, you need the peace of mind that working with a trusted accounting firm like ASY can provide. At ASY, our goal is to help you thrive by providing the responsive, intelligent service you need. For over 24 years we have been contributing to the success of companies just like yours through our integrity, expertise, and client focus. Let us help you succeed by delegating your accounting and tax functions to us so you can focus on what you do best.

Experience the peace of mind that comes with working with ASY… contact us today.
(717) 757-5482

We offer year round Tax Service and electronic filing for both personal, corporate, and non-profit tax returns. Setting up a new business? Have questions? We can help. We offer a no charge consultation. Are you processing your own payroll? Are you being overcharged by a big National Payroll Company? We can help! We have been processing payroll for many local and National companies for over 25 years and we’ll take care of the headache of payroll taxes for you. Contact us for a quote on our payroll service today.

We’ll count the beans… you enjoy the coffee!

Whether you’re a new client or a familiar face, feel free to use our handy Tax Organizer to get you ready for the season. Available in both Word.doc or PDF format.

Click the links below to get the status of your refund

Federal — Where is My Federal RefundWhere’s My Federal Amended Return

Pennsylvania — Where’s My PA RefundWhere is my Pa Property Tax Rebate

Eight Facts about Penalties for Filing and Paying Late

April 15 is the tax day deadline for most people. If you’re due a refund there’s no penalty if you file a late tax return. But if you owe taxes and you fail to file and pay on time, you’ll usually owe interest and penalties on the taxes you pay late. Here are eight facts that you should know about these penalties. 

1. If you file late and owe federal taxes, two penalties may apply. The first is a failure-to-file penalty for late filing. The second is a failure-to-pay penalty for paying late.

2. The failure-to-file penalty is usually much more than the failure-to-pay penalty. In most cases, it’s 10 times more, so if you can’t pay what you owe by the due date, you should still file your tax return on time and pay as much as you can. You should try other options to pay, such as getting a loan or paying by credit card. The IRS will work with you to help you resolve your tax debt. Most people can set up a payment plan with the IRS using the Online Payment Agreement tool on IRS.gov.

3. The failure-to-file penalty is normally 5 percent of the unpaid taxes for each month or part of a month that a tax return is late. It will not exceed 25 percent of your unpaid taxes.

4. If you file your return more than 60 days after the due date or extended due date, the minimum penalty for late filing is the smaller of $135 or 100 percent of the unpaid tax.

5. The failure-to-pay penalty is generally 0.5 percent per month of your unpaid taxes. It applies for each month or part of a month your taxes remain unpaid and starts accruing the day after taxes are due. It can build up to as much as 25 percent of your unpaid taxes.

6. If the 5 percent failure-to-file penalty and the 0.5 percent failure-to-pay penalty both apply in any month, the maximum penalty amount charged for that month is 5 percent.

7. If you requested an extension of time to file your income tax return by the tax due date and paid at least 90 percent of the taxes you owe, you may not face a failure-to-pay penalty. However, you must pay the remaining balance by the extended due date. You will owe interest on any taxes you pay after the April 15 due date.

8. You will not have to pay a failure-to-file or failure-to-pay penalty if you can show reasonable cause for not filing or paying on time.

Apr 15, 2014 – IRS Funding Information

The IRS releases refunds each weekday throughout the year. We provide the percentage of refunds that have not yet been funded by the IRS. We update these funding statistics at approximately 2:00pm eastern each weekday throughout the year.

As of today, the estimated percentage of refunds not yet released by the IRS are:

- for returns filed 02/18 and prior, most refunds have been released by the IRS.

- for returns filed 02/19 – 03/15, approximately 10% have not yet been released by the IRS.

- for returns filed 03/16 – 03/31, approximately 15% have not yet been released by the IRS.

- for returns filed 04/01 – 04/01, approximately 20% have not yet been released by the IRS.

- for returns filed 04/02 – 04/06, approximately 25% have not yet been released by the IRS.

- for returns filed 04/07 – 04/07, approximately 30% have not yet been released by the IRS.

- for returns filed 04/08 – 04/08, approximately 35% have not yet been released by the IRS.

- for returns filed 04/09 – 04/09, approximately 90% have not yet been released by the IRS.

- for returns filed 04/10 and beyond, the IRS has released very few refunds.
Apr 14, 2014 – IRS Funding Information

The IRS releases refunds each weekday throughout the year. We provide the percentage of refunds that have not yet been funded by the IRS. We update these funding statistics at approximately 2:00pm eastern each weekday throughout the year.

As of today, the estimated percentage of refunds not yet released by the IRS are:

- for returns filed 02/18 and prior, most refunds have been released by the IRS.

- for returns filed 02/19 – 03/14, approximately 10% have not yet been released by the IRS.

- for returns filed 03/15 – 03/25, approximately 15% have not yet been released by the IRS.

- for returns filed 03/26 – 03/31, approximately 20% have not yet been released by the IRS.

- for returns filed 04/01 – 04/01, approximately 30% have not yet been released by the IRS.

- for returns filed 04/02 – 04/02, approximately 50% have not yet been released by the IRS.

- for returns filed 04/03 – 04/05, approximately 55% have not yet been released by the IRS.

- for returns filed 04/06 – 04/07, approximately 60% have not yet been released by the IRS.

- for returns filed 04/08 – 04/08, approximately 95% have not yet been released by the IRS.

- for returns filed 04/09 and beyond, the IRS has released very few refunds.

Apr 11, 2014 – IRS Funding Information

The IRS releases refunds each weekday throughout the year. We provide the percentage of refunds that have not yet been funded by the IRS. We update these funding statistics at approximately 2:00pm eastern each weekday throughout the year.

As of today, the estimated percentage of refunds not yet released by the IRS are:

- for returns filed 02/18 and prior, most refunds have been released by the IRS.

- for returns filed 02/19 – 03/11, approximately 10% have not yet been released by the IRS.

- for returns filed 03/12 – 03/25, approximately 15% have not yet been released by the IRS.

- for returns filed 03/26 – 03/29, approximately 20% have not yet been released by the IRS.

- for returns filed 03/30 – 03/30, approximately 25% have not yet been released by the IRS.

- for returns filed 03/31 – 04/01, approximately 30% have not yet been released by the IRS.

- for returns filed 04/02 – 04/02, approximately 55% have not yet been released by the IRS.

- for returns filed 04/03 – 04/06, approximately 60% have not yet been released by the IRS.

- for returns filed 04/07 and beyond, the IRS has released very few refunds.
Apr 10, 2014 – IRS Funding Information

The IRS releases refunds each weekday throughout the year. We provide the percentage of refunds that have not yet been funded by the IRS. We update these funding statistics at approximately 2:00pm eastern each weekday throughout the year.

 

As of today, the estimated percentage of refunds not yet released by the IRS are:

- for returns filed 02/18 and prior, most refunds have been released by the IRS.

- for returns filed 02/19 – 03/10, approximately 10% have not yet been released by the IRS.

- for returns filed 03/11 – 03/25, approximately 15% have not yet been released by the IRS.

- for returns filed 03/26 – 03/29, approximately 20% have not yet been released by the IRS.

- for returns filed 03/30 – 04/01, approximately 30% have not yet been released by the IRS.

- for returns filed 04/02 – 04/02, approximately 55% have not yet been released by the IRS.

- for returns filed 04/03 – 04/04, approximately 60% have not yet been released by the IRS.

- for returns filed 04/05 – 04/05, approximately 95% have not yet been released by the IRS.

- for returns filed 04/06 and beyond, the IRS has released very few refunds.

Ten Facts about Capital Gains and Losses

When you sell a ’capital asset,’ the sale usually results in a capital gain or loss. A ‘capital asset’ includes most property you own and use for personal or investment purposes. Here are 10 facts from the IRS on capital gains and losses:

1. Capital assets include property such as your home or car. They also include investment property such as stocks and bonds.

2. A capital gain or loss is the difference between your basis and the amount you get when you sell an asset. Your basis is usually what you paid for the asset.

3. You must include all capital gains in your income. Beginning in 2013, you may be subject to the Net Investment Income Tax. The NIIT applies at a rate of 3.8% to certain net investment income of individuals, estates, and trusts that have income above statutory threshold amounts. For details see IRS.gov/aca.

4. You can deduct capital losses on the sale of investment property. You can’t deduct losses on the sale of personal-use property.

5. Capital gains and losses are either long-term or short-term, depending on how long you held the property. If you held the property for more than one year, your gain or loss is long-term. If you held it one year or less, the gain or loss is short-term.

6. If your long-term gains are more than your long-term losses, the difference between the two is a net long-term capital gain. If your net long-term capital gain is more than your net short-term capital loss, you have a ‘net capital gain.’

7. The tax rates that apply to net capital gains will usually depend on your income. For lower-income individuals, the rate may be zero percent on some or all of their net capital gains. In 2013, the maximum net capital gain tax rate increased from 15 to 20 percent. A 25 or 28 percent tax rate can also apply to special types of net capital gains.

8. If your capital losses are more than your capital gains, you can deduct the difference as a loss on your tax return. This loss is limited to $3,000 per year, or $1,500 if you are married and file a separate return.

9. If your total net capital loss is more than the limit you can deduct, you can carry over the losses you are not able to deduct to next year’s tax return. You will treat those losses as if they happened that year.

10. You must file Form 8949, Sales and Other Dispositions of Capital Assets, with your federal tax return to report your gains and losses. You also need to file Schedule D, Capital Gains and Losses with your return.

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13 14 15* 1st ES Quarterly Due all day
* Last Day to File Tax Return all day
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20* Pa Sales Tax Due all day
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