Mortgage broker to mortgage banker? 9 things you need to know
Time to get your mini-corr onKen Jones
February 14, 2014
Many brokers are making the transition to banking. But it takes more than a warehouse line to get started…

The season of change continues for the mortgage industry and, as has been the case for some time now, the mortgage broker is central to the story. Has the Dodd-Frank Act all but eliminated the place of the mortgage broker in the transaction? Or, can the ever-resourceful broker find yet another way to survive the latest wave of regulation?

Upcoming Important Tax Deadlines:  IT'S TAX SEASON!! 

February 28th - 1099 Forms and 1096 Must be Mailed to IRS - Deadline for businesses to mail Forms 1099 and 1096 with the IRS if filing on paper. If filing these forms electronically, the deadline is April 1.  It's NEVER TOO LATE...Penalties will only go up...get them filed!! 


February 28th - W-3 and copies of W-2s to Employees Must be Sent to SSA - Form W-2 "A" copies for 2012, together with transmittal Form W-3, must be filed with the Social Security Administration to report payments to employees who received Form W-2 on January 31. If you have an S-Corp, you need to send in this report! 

March 3rd - Farmers and Fisherman - Deadline for farmers and fishermen who have a balance due on their taxes to file their individual tax return and pay the balance due without incurring any late payment penalties. 

March 17th - Corporate Tax Returns Due - Due date of 2013 income tax returns for calendar year S-Corporations (Form 1120S) and C-Corporations (Form 1120). An automatic six-month extension may be obtained by filing Form 7004.

For more information contact Jerome Multi-Services @ (877)365-7265
http://www.rjeromemultiservices.com

January 2014 monthly sales and use tax returns are due on or before Thursday, February 20, 2014. Your paper tax return and payment must be postmarked or hand-delivered no later than February 20th. You must file a tax return even if you do not owe tax.

If you owe no tax and are not claiming any deductions or credits, you may Telefile by calling 800-550-6713. When you telefile, you do not need to mail your tax return. Keep the telefile confirmation number for your records.

Tax returns and payments sent after the due date noted above are subject to penalty and interest. Failure to receive a due date reminder is not grounds for waiver of penalties and interest charged for lateness.

If you have already submitted your return and payment, or you file and pay electronically, please disregard this reminder.

Note: Taxpayers who timely file and pay sales tax electronically automatically receive due date reminders and are eligible to deduct a collection allowance. The collection allowance is 2.5% (.025) of the first $1,200 of the Amount Due (Line 10), up to $30 per collection period.