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Company News: Page (1) of 1 - 01/03/13 Email this story to a friend. email article Print this page (Article printing at page

Long Island Business Accountant Reacts to Article on Minn. E-Services System   By PRWEB

Bohemia, NY (PRWEB) January 03, 2013

On January 3, Long Island accounting firm Diapoules & Feinstein CPAs P.C. reacts to the Echo Press article that announced the Minnesota Department of Revenues recognition with the 2012 Governors Continuous Improvement Award for developing its e-services system.

According to an article by Echo Press, businesses can file returns, pay business taxes and access their account information electronically. The system saves about $400,000 a year the agency previously paid an outside vendor to process electronic business returns, Echo Press reported. Introduced in October 2011, the e-Service system is a more secure and efficient approach to providing tax services for businesses.

The article explains that Minnesota taxpayers can take advantage of the e-Services resources and tools while filing their taxes. Revenue Commissioner Myron Frans said in the article that these features were key to winning the award. In March 2013, the department will release the system with adjustments and enhancements made based on the current feedback and test results, reports the article.

According to Long Island Business accountant Jim Diapoules, Minnesota is following a nationwide pattern by creating and utilizing electronic information systems for filing returns and gathering information. While states tout the benefits for taxpayers by requiring returns to be filed electronically, the states themselves are reaping the benefits. These electronic systems have increased tax collection efficiency as well as streamlining their workforce. Recently when speaking at the annual NCCPAP Accounting and Tax Symposium Thomas Mattox, the New York State Commissioner of Taxation, relayed one startling fact. New York State does not issue any income tax refunds until all of the data contained in the return is verified. He also stated NYS had updated their data systems to coordinate data storage amongst the various state agencies. Be careful Big Brother is here and is keeping notes.

Diapoules & Feinstein CPAs P.C. have been providing accounting, auditing and tax services to Greater New York City area since 1989. D&F provides our clients with great personal attention and years of professional experience in order to see them succeed and help them to feel confident.


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