December 15, 2020
THE IRS EXPANDS IDENTITY PROTECTION PIN PROGRAM

By Nick Hopkins, CPA, CFP®
Partner, Director of Tax Services

At the start of the new year, the IRS will expand its Identity Protection PIN Opt-In Program nationwide to all taxpayers who can confirm their identity. Taxpayers with either a Social Security Number or Individual Tax Identification Number are eligible for an identity pretention PIN (IP PIN).

An IP PIN is a six-digit number assigned to eligible taxpayers that protects their Social Security number from being used to file fraudulent federal income tax returns. Through this number, the IRS can easily verify a taxpayer’s identity and securely accept their tax return. 
PLANNING FOR 2021 WITH 20/20 VISION

By Tom Sponsel, CPA/ABV, CFF
Managing Partner

As COVID continues to change our daily lives both personally and professionally, you may feel as though it’s impossible to plan for anything. However, planning for the future is absolutely critical as this chaotic year comes to a close.

In prepping for 2021, you should find plenty of hope and inspiration in how you've handled this year’s many hurdles. You undoubtedly had to change your plans and adjust your expectations. Keep the spirit of adaptation and evolution alive as you head into this next year. The opportunity for successful operations and financial stability will be the result!
ARE YOU MANAGING YOUR RISKS?

By Eric Woodruff, CPA, CCIFP
Partner, Audit & Assurance Services

If 2020 has taught us anything, it’s that you can never be too careful when it comes to monitoring your business and analyzing potential risks and new ones that are created (i.e. COVID-19).

As you continue coping with the impact of COVID, keep an eye out for what lies ahead. If you’re not doing so already, you should conduct an annual review of your risk environment and exposures. Don’t hesitate to bring in an outside risk management consultant. Having a set of impartial eyes on your business can go a long way in protecting you from risks you may not have ever considered.
EMPLOYEE SPOTLIGHT: DALTON MUDD

Dalton Mudd started at Sponsel as an intern in the midst of the 2017 tax season. He later joined the tax services staff as a full-time member at the start of 2018. And earlier this year, he was promoted to Senior in the tax services department, in which he assists Partner and Director of Tax Services Nick Hopkins and the rest of the team in meeting the tax planning and compliance needs of the firm's business and individual clients.

Dalton earned his bachelor's degree in accounting and finance from Marian University, where he also played for the men's soccer team, the Knights.
Please Welcome Jeremy Kauffman!
We're thrilled to bring Jeremy Kauffman into the fold as a Manager in our Accounting Services department. Welcome aboard, Jeremy!