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IRS Truncates SSN
Final regulations from the Internal Revenue Service (IRS) give employers decision-making rights on whether to truncate their employees’ Social Security Numbers (SSN) on Form W2, Wage and Tax Statement. The rule, which began its journey in 2017 as a set of proposed regulations, is another step in the right direction toward protecting employees from identity theft. In the final rulemaking document, the IRS further defines the application of truncation rules and even provides an example of provisional allowance. 

Find out more information here .
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The Most Popular Business Tax Credits for 2019
Understanding your eligibility for tax credits is an essential facet of income tax planning. Unlike deductions, which reduce your tax owed as a percentage of the deduction multiplied by your marginal tax rate, tax credits reduce your tax owed on a dollar for dollar basis. Given the choice between a tax deduction and a tax credit, the credit is more valuable to you. Typically business tax credits are non-refundable which means you have to owe tax in order to take advantage of the tax credit. 

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Welcome Back Brennan Otto & Kaylee Bundschuh!
Brennan has rejoined the Sandusky office and will be continuing his role as a Staff Accountant, specializing in individual and business tax. Brennan is a graduate of Kent State University and has earned his CPA. He resides in Vermilion with his wife Jackie.

Kaylee has returned to the Norwalk area and has rejoined the Norwalk office. She is a graduate of Bowling Green State University and also has earned her CPA. Kaylee is a staff accountant specializing in audit, as well as business accounting.


Payne Nickles & Company 
Sandusky: 419-625-4942
Norwalk: 419-668-2552