After Tax Season Updates
May 12, 2015
     We are sending you this newsletter to communicate information regarding the assessed value of any property you own in Colorado.  In addition, we will provide tips for protecting yourself against identity theft.

County Property Values

 

    Do you own property in Colorado? Does your business own property in Colorado? Whether you own residential or commercial real estate, each May you will receive a Notice of Value from the local county assessor regarding the assessed value of your property. While the County Assessor is responsible for equitably valuing the property, there is a chance your 2015 results could be over-valued. With an improving economy and rising home and property values, there is a good chance your value has changed since 2014. If you have received a Notice of Value from the County and are concerned about the increase in valuation, now is the time for you to file a protest. During the month of May, Larimer and Weld Counties are accepting protests for all residential and commercial property owned by businesses and individuals.
 
    To file a protest, go to your county assessor website. For Larimer County residents, the website is www.larimer.org/assessor and for Weld County, it is www.co.weld.co.us/Departments/Assessor/. From here, you can find the mail-in county protest forms as well as an online option. Please keep in mind that for all real property, these forms are due in both Larimer and Weld Counties no later than June 1, 2015. You will also have an opportunity to file a protest for business personal property. For Larimer County, you may file these between June 15 and July 5, 2015 and for Weld County, you may file between June 15 and June 30, 2015.
 
    For any questions you might have regarding the value of your property or business personal property, please contact us today.
Protect Yourself Against Identity Theft

 

   As busy season came to a close this year,
our firm encountered a few cases of identitytheft and fraudulently filed tax returns. For 2013, the Treasury's Inspector General for Tax Administration reported that 2.4 million U.S. taxpayer's names or Social Security numbers appeared in falsified returns. These cases are upsetting, and we continually reinforce our efforts to ensure the safety and security of our clients' personal information. 
    Often there is nothing you can do to prevent the data breaches which can result in tax fraud, but there are ways you can protect yourself and make yourself less of a target to fraudulent schemes. The IRS, as well as our firm, recommend that all of our clients take the following steps:
  • Don't give a business your SSN or ITIN just because they ask. Give it only when required.
  • Protect and secure your financial information.
  • Check your credit report every 12 months (you can do this for free!).
  • Review your Social Security Administration earnings statement annually.
  • Secure personal information in your home.
  • Protect your personal computers by using firewalls and anti-spam/virus software, updating security patches, and changing passwords for Internet accounts regularly.
  • Don't give personal information over the phone, through the mail, or on the Internet unless you have initiated the contact or you are sure you know who you are dealing with.
  • The IRS will never initiate contact with you by e-mail, text, phone, or social media. If the IRS needs information, they will first contact you by U.S. Postal mail service. 
        Identity theft is frustrating to all involved, and it is our hope that you are able to protect yourself and your business from falling victim to these fraudulent schemes. If you are concerned that you are at risk of identity theft due to a stolen wallet, purse, or other personal information, you should call the IRS Identity Protection Specialized Unit at 1-800-908-4490, or contact our office.  

     

        Client safety and security is always a top priority for our firm. If you have questions regarding any of the information discussed above, please do not hesitate to contact our office for assistance.     

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