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Did April 15th Sneak Up On You?

Did the April 15th deadline for filing your federal tax returns sneak up on you? Unable to file on time?  Or have you been well aware of the fast approaching deadline but for whatever reason, are unable to pay your federal taxes?

Many taxpayers facing these situations simply “file for an extension.”

However, there are differences between being unable to file on time and being unable to pay on time, and these differences may unnecessarily cost you money.

While the IRS imposes penalties for both late filing and late payment, the penalty for late filing is higher then that for late payment.  If you complete your tax return but can’t pay the taxes you owe, do not request an extension. Instead, file your return on time and pay as much as you can.

Also remember that an extension to file will give you six more months to file your taxes but it does not give you extra time to pay your taxes. You still must estimate and pay what you owe by April 15. You will be charged interest on any amount not paid by the deadline and may also owe a penalty for not paying on time.

 

 

 

 

The IRS on Social Media?

Absolutely! Seems like everyone these days is joining the social media craze and the IRS is no exception.

And as the April 15th deadline for filing 2013 tax returns rapidly approaches many taxpayers may have questions or need some assistance and may be surprised to find that the IRS can provide a lot of information and assistance through social media.

The centerpiece of IRS social media efforts is YouTube, where viewers can watch three different channels for short, informative videos in English, Spanish and American
Sign Language
(ASL). The channels include more than 100 videos and have been viewed more than 7.5 million times.

 

 

 

The Law Office of Jack Stuart Beige & Associates, P.C. Announces Investigation of OBA Financial Services, Inc. Buyout Proposal

The Law Office of Jack Stuart Beige & Associates, P.C. Announces Investigation of OBA Financial Services, Inc. Buyout Proposal

SMITHTOWN, NY, April 9, 2014:

The Law Office of Jack Stuart Beige & Associates, P.C. announces that it is investigating the Board of Directors of OBA Financial Services, Inc. (“OBA”) (NASDAQ CM: OBAF) for possible breaches of fiduciary duties and other violations of law in connection with OBA’s agreement to be acquired by F.N.B. Corporation (“F.N.B.”) (NYSE: FNB), in a transaction valued at approximately $94 million.

Under the terms of the agreement, public shareholders of OBA would receive 1.781 shares of F.N.B. common stock for each share of OBA they own. Based on F.N.B.’s closing stock price on April 7, 2014, OBA shareholders would have received consideration valued at approximately $23.82 per share.

The investigation concerns whether OBA’s Board of Directors breached its fiduciary duties to stockholders, whether the proposed consideration to be paid to OBA’s stockholders would be fair and adequate, and whether OBA is acting in its stockholders’ best interests.

If you own OBA common stock, purchased your shares prior to April 8, 2014, and wish to obtain additional information, please contact Joseph R. Beige, Esquire either via email at or by telephone at (631) 231-7725.

 

Are you 1 of the 9,000?

If you are then you already know that you didn’t win the lottery….the New York State Department of Taxation and Finance did.

According to a March 17, 2014 press release issued by Governor Cuomo’s office nearly 9,000 New York drivers (8,900 to be exact) have had their drivers licenses suspended as a result of their having unpaid New York State taxes.

If you or a family member has received a notice of proposed drivers license suspension from the New York State Department of Taxation and Finance you must act quickly! You have 60 days to respond or face a suspension of your drivers license. If you drive with a suspended license you are subject to arrest and other penalties provided by law.

Contact the Law Office of Jack Stuart Beige & Associates, P.C. and learn about your rights and options today to avoid a suspension of your drivers license or if you’ve already been subjected to a suspension how to regain your driving privileges.

 

The Law Office of Jack Stuart Beige & Associates, P.C. Announces Investigation of Sino Gas International Holdings, Inc. Buyout Proposal

INVESTOR ALERT: The Law Office of Jack Stuart Beige & Associates, P.C. Announces Investigation of Sino Gas International Holdings, Inc. Buyout Proposal

SMITHTOWN, NY, April 7, 2014:

The Law Office of Jack Stuart Beige & Associates, P.C. announces that it is investigating the Board of Directors of Sino Gas International Holdings, Inc. (“Sino”) (OTC QB: SGAS) for possible breaches of fiduciary duties and other violations of law in connection with Sino’s agreement to be acquired by Prosperity Gas Holdings Limited (“Prosperity”), in a transaction valued at approximately $74.9 million.

Under the terms of the agreement, public shareholders of Sino will receive $1.30 per share in cash for each share of Sino they own.

The investigation concerns whether Sino’s Board of Directors breached its fiduciary duties to stockholders, whether the proposed consideration to be paid to Sino’s stockholders would be fair and adequate, and whether Sino is acting in its stockholders’ best interests.

If you own Sino common stock, purchased your shares prior to April 2, 2014, and wish to obtain additional information, please contact Joseph R. Beige, Esquire either via email at or by telephone at (631) 231-7725.

 

The Law Office of Jack Stuart Beige & Associates, P.C. Announces Investigation of DFC Global Corp. Buyout Proposal

INVESTOR ALERT: The Law Office of Jack Stuart Beige & Associates, P.C. Announces Investigation of DFC Global Corp. Buyout Proposal

SMITHTOWN, NY, April 2, 2014:

The Law Office of Jack Stuart Beige & Associates, P.C. announces that it is investigating the Board of Directors of DFC Global Corp. (“DFC”) (NASDAQ GS: DLLR) for possible breaches of fiduciary duties and other violations of law in connection with DFC’s agreement to be acquired by an affiliate of Lone Star Funds (“Lone Star”), in a transaction valued at approximately $1.3 billion.

Under the terms of the agreement, public shareholders of DFC will receive $9.50 per share in cash for each share of DFC they own.

The investigation concerns whether DFC’s Board of Directors breached its fiduciary duties to stockholders, whether the proposed consideration to be paid to SDFC’s stockholders would be fair and adequate, and whether DFC is acting in its stockholders’ best interests.

If you own DFC common stock, purchased your shares prior to April 2, 2014, and wish to obtain additional information, please contact Joseph R. Beige, Esquire either via email at or by telephone at (631) 231-7725.

 

INVESTOR ALERT: The Law Office of Jack Stuart Beige & Associates, P.C. Announces Investigation of SWS Group, Inc. Buyout Proposal

INVESTOR ALERT: The Law Office of Jack Stuart Beige & Associates, P.C. Announces Investigation of SWS Group, Inc. Buyout Proposal

SMITHTOWN, NY, April 1, 2014:

The Law Office of Jack Stuart Beige & Associates, P.C. announces that it is investigating the Board of Directors of SWS Group, Inc. (“SWS”) (NYSE: SWS) for possible breaches of fiduciary duties and other violations of law in connection with SWS’ agreement to be acquired by Hilltop Holdings Inc. (“Hilltop”) in a transaction valued at approximately $260 million.

Under the terms of the agreement, public shareholders of SWS would receive 0.2496 shares of Hilltop common stock and $1.94 in cash for each share of SWS they own.  Based on Hilltop’s closing stock price on March 31, 2014, SWS shareholders would have received consideration valued at approximately $7.88 per share.

The investigation concerns whether SWS’ Board of Directors breached its fiduciary duties to stockholders, whether the proposed consideration to be paid to SWS’ stockholders would be fair and adequate, and whether SWS is acting in its stockholders’ best interests.

If you own SWS common stock, purchased your shares prior to April 1, 2014, and wish to obtain additional information, please contact Joseph R. Beige, Esquire either via email at or by telephone at (631) 231-7725.

 

SPRING IS IN THE AIR AND SO ARE TAX SCAMS

SPRING IS IN THE AIR AND SO ARE TAX SCAMS

 Although Mother Nature may disagree according to the calendar spring is here. And just as the arrival of spring signals that opening day for the Yankees, Mets and Ducks is right around the corner, so is the April 15th tax filing deadline.

And with it the inevitable tax scams.

According to the IRS they have seen a recent increase in phone scams across the country, with callers pretending to be from the IRS in hopes of stealing money and/or identities from victims.

Make no mistake these are sophisticated phone scams.

According to the IRS’ website characteristics of these scams can include:

  • Scammers use fake names and IRS badge numbers. They generally use common names and surnames to identify themselves.
  • Scammers may be able to recite the last four digits of a victim’s Social Security Number.
  • Scammers “spoof” or imitate the IRS toll-free number on caller ID to make it appear that it’s the IRS calling.
  • Scammers sometimes send bogus IRS emails to some victims to support their bogus calls.
  • Victims hear background noise of other calls being conducted to mimic a call site.

     

Furthermore, after threatening victims with jail time or a driver’s license revocation, scammers hang up and others soon call back pretending to be from the local police or DMV, and again the caller ID supports their claim.

If you think you’ve been targeted by a then call and report the incident to the Treasury Inspector General for Tax Administration at 800-366-4484 and the Federal Trade Commission and use their “FTC Complaint Assistant” at FTC.gov (add “IRS Telephone Scam” to the comments of your complaint).

If you legitimately owe or are concerned that you may owe federal taxes contact the Law Office of Jack Stuart Beige & Associates, P.C. to discuss your rights and options.

 

The Law Office of Jack Stuart Beige & Associates, P.C. Announces Investigation of LIN Media LLC Buyout Proposal

INVESTOR ALERT: The Law Office of Jack Stuart Beige & Associates, P.C. Announces Investigation of LIN Media LLC Buyout Proposal

SMITHTOWN, NY, March 21, 2014:

The Law Office of Jack Stuart Beige & Associates, P.C. announces that it is investigating the Board of Directors of LIN Media LLC (“LIN”) (NYSE: LIN) for possible breaches of fiduciary duties and other violations of law in connection with LIN’s agreement to be acquired by Media General, Inc. (“Media”) (NYSE: “MEG”) in a transaction valued at approximately $1.6 billion.

Under the terms of the agreement, public shareholders of LIN can elect to receive $27.82 in cash or 1.5762 shares of the new holding company for each share of LIN they own.

The investigation concerns whether LIN’s Board of Directors breached its fiduciary duties to stockholders, whether the proposed consideration to be paid to LIN’s stockholders would be fair and adequate, and whether LIN is acting in its stockholders’ best interests.

If you own LIN common stock, purchased your shares prior to March 21, 2014, and wish to obtain additional information, please contact Joseph R. Beige, Esquire either via email at or by telephone at (631) 231-7725.

 

The Law Office of Jack Stuart Beige & Associates, P.C. Announces Investigation of Schawk, Inc. Buyout Proposal

INVESTOR ALERT: The Law Office of Jack Stuart Beige & Associates, P.C. Announces Investigation of Schawk, Inc. Buyout Proposal

SMITHTOWN, NY, March 19, 2014:

The Law Office of Jack Stuart Beige & Associates, P.C. announces that it is investigating the Board of Directors of Schawk, Inc. (“Schawk”) (NYSE: SGK) for possible breaches of fiduciary duties and other violations of law in connection with Schawk’s agreement to be acquired by Matthews International Corporation (“Matthews”) in a transaction valued at approximately $577 million.

Under the terms of the agreement, public shareholders of Schawk will receive $11.80 in cash and 0.20582 shares of Matthews common stock for each share of Schawk they own.  Based on Matthews’ closing stock price on March 14, 2014, Schawk shareholders would have received consideration valued at approximately $20.00 per share.

The investigation concerns whether Schawk’s Board of Directors breached its fiduciary duties to stockholders, whether the proposed consideration to be paid to Schawk’s stockholders would be fair and adequate, and whether Schawk is acting in its stockholders’ best interests.

If you own Schawk common stock, purchased your shares prior to March 17, 2014, and wish to obtain additional information, please contact Joseph R. Beige, Esquire either via email at or by telephone at (631) 231-7725.