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TAS Tax Tip: Newly expanded ‘Closing a Business’ information provides step-by-step actions

Closing your business can be a difficult and challenging task. The Taxpayer Advocate Service (TAS) partnered with IRS to expand its Closing a Business page to help business owners understand the sp...

TAS Tax Tip Unemployment Compensation is Taxable - Explore Your Options Now

Unemployment compensation, including special unemployment compensation authorized under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, must generally be included in gross income. ...

Tax Tip Filing a Petition with the United States Tax Court

Taxpayers have the right to appeal an IRS decision in an independent forum. One way taxpayers may exercise this right is by filing a petition with the United States Tax Court.  How do I get t...

Taxpayers Can Now Electronically Submit 2019 Forms 1040-X in Certain Cases

Starting now, for tax year 2019 only, Form 1040-X, Amended U.S. Individual Income Tax Return can be filed electronically, though commercial tax-filing software. Please be aware that these cannot cu...

Time to claim the Economic Impact Payment for non-filers is extended to November 21

Non-filers now have until November 21 to register for their Economic Impact Payment (EIP). Eligible individuals, with little or no income and who are not normally required to file tax returns, now ...

TAS Tax Tip: Why Do I Owe a Penalty and What Can I Do About It?

I sent a payment to the IRS. Why did I get a bill? If you mailed a payment to the IRS on or before July 15, it may still be unopened in the backlog of mail the IRS is processing due to COVID-19. T...

TAS Tax Tip: Important Reminders for October 15 - Extension Filers

Most individual taxpayers who filed an extension for their 2019 federal income tax return have until Thursday, October 15 to file. Although October 15 is the last day for most people to file, some...

Blog de la NTA: El TAS extiende una mano para la Semana Nacional de la Pequeña Empresa

Suscríbase al Blog de la NTA y reciba actualizaciones sobre las últimas publicaciones del blog de la Defensora Nacional del Contribuyente Erin M. Collins. Se pueden encontrar blogs a...

TAS Tax Tip: COVID-19 Business Tax Relief Tool for Businesses and Tax-Exempt Entities

Need relief for employment taxes? Here’s a simple way to find out what your options might be under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and/or the Families Fir...

NTA Blog: TAS Extends a Hand for National Small Business Week

Subscribe to the NTA’s Blog and receive updates on the latest blog posts from National Taxpayer Advocate Erin M. Collins. Additional blogs can be found at www.taxpayeradvocate.irs.gov/blog. ...

Services

Jason F. Clausen, P.C. provides attestation and assurance services to businesses in a variety of industries, with particular specialization in Professional Employer Organizations (PEOs) and Nonprofit Organizations (NPOs). At Jason F. Clausen, P.C., we strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment.

Assurance and Attestation Services:

Audits
Audits offer the highest level of assurance to third parties, and include in-depth examination and confirmation of account balances, inventories, and selected transactions. We perform audits for you to remove errors, ascertaining the validity and reliability of your information.

Reviews
Reviews provide limited assurance to outside interests and involve inquiries and analytical procedures that confirm financial statement matters and identify any items requiring further analysis. We perform reviews to ensure the integrity of your data.

Compilations
Compilations are usually requested for internal purposes and are based upon information provided by a company's management. They do not offer assurance but may involve some adjustment to accounting records.

Other engagements
Other types of engagements of this type are usually requested as either an area of concern management, requests from our clients’ customers, or specific reporting required by governments. (i.e. Opinions on Internal Controls, Payroll Tax Auditing, etc.).

Our professional services include:


Audits of Nonprofit Organizations

Nonprofit Organizations are often required to have annual audits in compliance with grant terms and agreements, financial arrangements, or governmental requirements. Jason F. Clausen, P.C. has a special concentration in Nonprofit Organization auditing, and has been a growing resource for nonprofit organizations located throughout the United States.

Single Audits

Does your organization receive funding from the Federal Government? If so, you may be required to have a Single Audit. A Single Audit involves not only the audit of the financial statements, but also assessments of internal control, and compliance within the requirements of Uniform Guidance. Single Audits require knowledge and experience beyond the needs for audits of traditional financial statements. Jason F. Clausen, P.C.’s audit experience in this area can serve your organization as a knowledge resource and an efficient alternative to others who may not be as familiar with Government Auditing Standards required for these types of audits.

Find out more here

Audits of Professional Employer Organizations (PEOs)

Over the last several years, the number of states that are now requiring financial statements audits for Professional Employer Organizations (PEOs) has increased to over 30. All signs indicate that this trend is on the rise.

PEOs are swarmed with different sets of regulation at the federal level, and at the state level, with each state being different from one another. With the many different states requiring financial statement audits, and various types of ratios in order for proper compliance, it may be difficult to keep up to date on new developments within each state.

Jason F. Clausen, CPA, has been engaged as a CPA with PEOs since 1999, both internally as a controller for a PEO family active in over 40 states, and as an auditor for PEOs with gross receipts ranging from $9 Million to $500 Million.

Given the years of experience in audit and compliance work with PEOs, we consider it a specialty of ours. If your organization is a PEO, we would like the opportunity to discuss our services with you. We serve nationwide.

Audits of Employee Benefit Plans

Generally, Federal law requires employee benefit plans with 100 or more participants to have an audit as part of their obligation to file an annual return/report (Form 5500). If your employee benefit plan is required to have an audit, one of the most important duties of the plan administrator is to hire an independent qualified public accountant. Our firm, as part of our auditing expertise, has great knowledge and specialized expertise with regard to the procedures required to perform these audits with audits of employee benefit plans.

Find out more here

Audits of Privately-Held Businesses

Private Businesses may be required to have an annual financial statement audit for a variety of reasons: lending requirements, business licenses, corporate by-laws, etc. In choosing your auditor, some of the factors may be reputation of the firm, fees expected, expertise of the auditor. Our firm is specialized in auditing services, and are familiar enough with auditing procedures that prevent us from overauditing, which is common among CPAs who may be less familiar or up to date with generally accepted auditing procedures.

Peer Reviews

Is your firm currently enrolled in the AICPA Peer Review Program? My firm performs firm-on-firm reviews. Both System Reviews and Engagement Reviews. We cover the following types of engagements:

- Audits of Nonpublic (Private) Companies

- Audits of Nonprofit Organizations

- Audits of State and Local Governments

- Audits performed in accordance with Government Auditing Standards (Yellow Book)

- Single Audits

- 401(k) Audits

- Reviews

- Compilations

- Preparations

- Agreed-Upon Procedures

- Examinations

If you are interested, please contact me. You can also find my firm listed in PRIMA.


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