The French government is considering a tax on technology.

A proposed 1 percent tax on smartphones and tablets has been presented in legislation to French President Francois Hollande. What has confused and angered some in France and other parts of the world is that the money raised will not go for Internet infrastructure for these devices, but for digital culture content.

The tax, if approved, is expected to raise 86 million euros ($110 million) annually. The money would go toward for to support French artistic content, such as videos, music and photography.

The funding mechanism is aimed at technology stalwarts like Google, Apple and Amazon, but the tax would likely be passed on by those firms to consumers purchasing their products, experts predicted.

Radio and television stations already pay to fund French cultural efforts, but online companies like Google are exempted.

Any “Internet compatible” devices would be subject to the tax, according to French officials.

The proposed tax falls under the French “cultural exception” policy, which aims to protect the French movie and music industries from Americans and other foreign invaders. Similar laws are also in place for protecting the French language.

The cultural exception policy, passed in 1993, states that cultural goods will be treated differently than consumer goods. In particular, the measure targets minimizing the impact of American films on the French population.

French leaders are expected to meet with representatives of the French arts community before making any decision on the proposed tax.

The “smartphone tax” was the highest profile items in a string of 75 measures put forth by Pierre Lescure, former chief executive officer of the French pay TV channel Canal Plus. Lescure headed a government-funded study looking at the rise of digital content in the country.

The measures are to “protect the culture exception in the face of digital innovation,” Lescure said.

French consumer are spending more money on hardware than on content, according to report. That trend brought the call for the smartphone tax.

“Today we have extremely sophisticated technological equipment that is extremely expensive to buy, but which contributes nothing to the financing of the works that circulate on that same equipment,” French culture minister Aurelie Filipetti said.

“Companies that make these tablets must, in a minor way, be made to contribute part of the revenue from their sales to help creators,” she added.

Filipetti said the protection of French movies and music continues to be “a battle” that the country needs to fight.

Last year, France and Google became embroiled in a debate when the government unsuccessfully tried to tax ads placed on the online company’s search results.

Taxation is an issue that Sansone & Associates, P.C. takes seriously. Sansone’s award-winning accounting services aim to guide clients through planning and preparation decisions to minimize tax liabilities. Whether personal or business tax issues have a client concerned, Sansone prides itself on being available to play a major role in supporting financial, record-keeping and tax-planning issues. If there is anything Sansone can help with, schedule an appointment with one of its certified public accountants by calling (815) 459-4300.

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More and more, it appears that auditing firm KPMG’s initials stand for Keep Probe Mode Going.

On the heels of a multimillion-dollar settlement with co-defendant Fannie Mae in Ohio, the auditors are now the focus of two probes by Britain’s accounting regulators, The Financial Reporting Council.

In the Ohio case, the state’s attorney general sued KPMG and Fannie Mae for overstating earnings by $6.3 billion and providing false financial reports in violation of federal securities law. KPMG and Fannie Mae will each pay half of the $153 million settlement. The settlement of the eight-year-old class action suit is far less than the $10 billion that investors are entitled to, according to former Ohio Attorney General Marc Dann.

“Given the immediate and substantial benefit of $153 million, the risk in establishing settling defendants’ liability and proving damages, and the potential limitation on the ability of Fannie Mae to satisfy a judgment,” the settlement “represents an outstanding recovery,” current Ohio Attorney General Mike DeWine said in memo filed in support of the proposed settlement.

“We are satisfied with the outcome and pleased to put the matter behind us,” Bradley Lerman, Fannie Mae’s general counsel, said in an e-mailed statement.

The Ohio case, originating in 2005, initially included 13 lawsuits against Fannie Mae. Those cases were later consolidated and moved to Washington. KPMG was included as a defendant in 2006.

“KPMG determined that it was in the firm’s best interest to put this matter behind us and avoid the significant additional cost, and the distraction and inherent uncertainty, of protracted litigation,” Manuel Goncalves, the accounting firm’s director of national media relations, said in an e-mailed statement to Accounting Today.

The Ohio settlement stems from two years of negotiations under the direction of Fred Fielding, the former White House counsel to U.S. Presidents Ronald Reagan and George W. Bush.

The class-action suit covers all Fannie Mae purchased common stock and call options bought between April 17, 2001 and  Dec. 22, 2004.

KPMG should be happy to put the Ohio case in its rear-view mirror, especially in light of two probes brewing across the pond.

The British probes question if KPMG was independent when it audited car dealer Pendragon in 2010 and 2011 and if a partner’s shares in a KPMG client played any role in the auditing firm’s evaluation of the client.

Pendragon runs 250 auto retail outlets, including ones under the Stratstone, Evan Halshaw and Quicks umbrella. The firm’s website states that auditor independence is ensured by an Audit Committee which “will review the independence and effectiveness of the external auditors on an annual basis.”

KPMG declined to comment about the United Kingdom probes, but said in a statement to Foxbusiness.com, “We take our professional responsibilities very seriously .. we remain of the view that our independence as auditor for these years was maintained.”

Possibly shedding light on the other probe, the multinational accounting firm did admit that it was aware of a case where a partner had shares of stock with an unlisted client. The company said that it took immediate action when made aware of the breach in company rules.

Sansone & Associates, P.C. provides award-winning accounting services. The firm is known for guiding clients through planning and preparation decisions to minimize tax liabilities. Whether personal or business tax issues have a client fretting, Sansone prides itself on being available to play a major role in supporting  financial, record-keeping and tax-planning issues. If there is anything Sansone can help with, schedule an appointment with one of its certified public accountants by calling (815) 459-4300.

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While QuickBooks is the choice in nearly nine out of every 10 small and medium businesses using accounting software, Sage 50, formerly known as Peachtree, is making an impact in the industry as well.

QuickBooks has 89 percent of the accounting software market right now, but it is the right accounting software for you? Or does Sage 50 have the tools better suited for your business?

More and more owners of small- and medium-sized business have turned to accounting software as it helps tackle just one of the many issues that need to be faced in daily operations. Both QuickBooks and Sage 50 can take many of the bookkeeping operations off of personnel, freeing them up to address other responsibilities.

A comparison of the two software programs by Softwarefit examines the pros and cons of the products. The full white pages report is available at https://www.box.com/s/ntiofhvph2zupdtfrd23.

Comparing QuickBooks Pro and Sage 50′s Peachtree Pro, both only allow one software user and both can be used for accounts receivable, accounting payable and general ledger duties. QuickBooks Pro allows for automatic check-signing. Peachtree Pro offers job costing and job forcasting, and has a multiple customizable dashboards.

QuickBooks is viewed as the easiest-to-use accounting software, with hassle-free installation and an intuitive set-up that answers users’ questions along the way. Individuals with little or no accounting background are able to use the system and keep track of their business’ financial picture. QuickBooks has built its reputation on being an easy-to-use system.

Sage 50′s rebranded Peachtree program, has taken big steps in usability. It has taken a page from QuickBooks’ playbook and has a more intuitive nature, providing two different Advisor programs to help business professionals with the software’s use. The program tracks user activity while showing what the software can accomplish for a small business.

When you go up to the next level, and compare QuickBooks Premier with Peachtree Complete and Peachtree Premium, QuickBooks tops the Peachtree products in offering automatic check-signing.

There are free software programs available online, but they are extremely limited in scope and function and can’t hold a candle to either QuickBooks or Sage 50. Both software programs are a much better choice than going with a free program. As the old saying goes, “You get what you pay for.”

Both QuickBooks and Sage 50 provide valuable services for business owners looking for some assistance with bookkeeping chores. Most business owners would be well-served with either software, but there are some differences that can tip the scales in QuickBooks favor for some business owners.

Both companies offer industry-specific programs. However, QuickBooks has six industry-specific versions; while Sage 50 has five.

For Mac users, QuickBooks is the way to go as Sage 50 does not offer a Mac version.

QuickBooks is outstanding for service-oriented businesses and organizations. The Softwarefit comparison notes that it falls a little short in inventory control. Sage 50, perhaps not surprisingly,  is much stronger in inventory control solutions. Peachtree Premium,for example, offers serial number inventory management, which QuickBooks Premier does not.

Sansone Accounting & Tax is a provider of QuickBooks software. Sansone is known for guiding clients through planning and preparation decisions to minimize tax liabilities. Whether it be QuickBooks Pro or new business taxes, the firm prides itself on being available to play a major role in supporting  financial, record-keeping and tax-planning issues. To schedule an appointment with one of Sansone’s  certified public accountants, call (815) 459-4300.

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When William Shakespeare wrote “All the world’s a stage,” he may not have had firms doing business daily on different continents in mind, but there is no denying we are now a global economy.

And while expanding your firm’s markets beyond the continental boundaries is great for business, providing your goods and services overseas is not all positive. With international trade comes international accounting issues. More businesses today are selling their wares in foreign lands and, with that, international tax complications are appearing on a more frequent basis.

Varying tax rates, required information reporting and transparency are all issues that are emerging for firms doing business beyond our borders. And with many of their other locations having lower tax rates than here in the United States, many firms are leaving the profits in foreign lands instead of bringing those funds back and facing higher taxation.

“It’s critical that we deal with what’s become a confiscatory corporate tax rate in the United States. that encourages U.S. corporations to spend their profit overseas in order to avoid being taxed in the U.S.,” Mark Friedlich, an expert in the accounting profession, told Accounting Today magazine. “That is a critical issue for us right now, since the U.S. will be losing billions of dollars in tax revenue due to cash floating out of the country.

“Of course, the other side is our various high corporate tax rates acting as a disincentive for foreign corporations to do business in the U.S. which negatively impacts competition and which ultimately results in higher prices for goods and services for U.S. consumers.”

According to Friedlich, expect for the United States and Japan, the trend around the world is to lower corporate tax rates and raise value-added taxes and other indirect cash rates. He said these countries are turning to that funding mechanism to raise revenue but also to cut corporate tax rates in an effort to spur development and other investment in their country.

Friedlich said those actions need to generate action by U.S. lawmakers to lower corporate taxes.

The accounting expert noted that countries around the world are also increasing their transparency with tax returns, trying to stem tax avoidance and tax fraud. But with that transparency, Friedlich contends, has come more scrutiny as the number of tax audits in other countries is on the rise. And more U.S. firms are facing audits on foreign soil.

One ongoing issue for businesses with multinational locations is that the United States taxes companies on their overall income, while other countries tax firms only on their income in that country.

Arguments have been waged for both the global system to be enacted worldwide and for the territorial system to be implemented in the United States. A case has also been made for a zero tax, but that is not on anyone’s radar for possible passage.

Bill Moses, an international tax expert, said that individuals lobbying for global or territorial tax rates for all nations are not all that far apart.

“Given the way both sides have chalked up what they think the tax rates should be, the two sides are not necessarily all that far apart,” Moses told Accounting Today. “Many companies will be willing to pay 5 or 10 percent more for political stability or resource availability, but a 20 percent differential is a lot – it can buy a lot of infrastructure. Tax reform can’t simply be territorial and leave the rates high. It has to be territorial and reduce the rates. And most of the countries with lower corporate tax rates have substantially higher individual rates.”

Sansone Accounting & Tax can help lessen your tax liability. Sansone is known for guiding clients through planning and preparation decisions to minimize their income taxes. Whatever business finance issues you want to address, Sansoneprides itself on being available to play a major role in supporting financial planning, record keeping and tax consulting. If there is anything Sansone can help your business with, please schedule an appointment with one of its certified public accountants by calling (815) 459-4300.

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President Barack Obama’s budget for the 2014 fiscal year calls for $580 million in new taxes and limits on tax deductions.

The spending plan, unveiled this week, has many of the same elements the president proposed during the fiscal cliff discussions. Obama’s budget institutes the Buffet Rule ensuring that millionaires pay a comparable tax rate as middle-class Americans.

The Buffet Rule, so coined after investor Warren Buffet said he paid a lower tax rate than his secretary, would require individuals earning $1 million and above to pay at least a 30 percent tax rate (before  charitable donations). The charitable donation credit would take many millionaires down to a 28 percent tax rate.

Obama has been insistent on higher tax rates for millionaires for quite awhile now. He hammers the point home with the new federal budget.

“To be clear, the (budget) package I am offering includes some difficult cuts that I do not particularly like. But these measures will only become law if congressional Republicans agree to meet me in the middle by eliminating special tax breaks and loopholes so millionaires and billionaires do their fair share to cut the deficit,” Obama said about his proposed budget. “I will not agree to any deal that seeks to cut the deficit on the backs of middle-class families.

“I am willing to make tough choices that may not be popular within my own party, because

there can be no sacred cows for either party. And I look forward to working with any member of

Congress who takes a similar, balanced approach. This plan is built on the kind of common ground

that Democrats and Republicans should be able to reach.”

The Fair Share Tax, which would start being phased in at adjusted gross incomes of $1 million and fully implemented for adjusted gross incomes of $2 million, is estimated to put an additional $99 billion in the government coffers by fiscal year 2024.

Also part of the president’s budget proposal is limiting tax deductions for single taxpayers with incomes over $200,000 and married taxpayers filing jointly with a combined income of $250,000. Under the budget proposal those taxpayers could not reduce their tax rate below the 28 percent level.

Obama notes that the proposed $3.7 trillion budget “contains $2 in spending cuts for every $1 of new revenue” and would cut the federal deficit by $1.8 trillion by 2024.

There would be a $3 million limit on individual retirement accounts and other tax-beneficial savings account under the budget proposal.

As proposed, carried interest in partnerships, such as hedge fund managers and private equity partners, would be taxed at regular income rates, not the capital gains rate. The move would net the government $16 billion in the next decade.

Estate, gift and generation-skipping transfer tax rules, which were in effect in 2009, would be reimplemented in the 2014 budget plan. An exception to those early rules would be that the portability of the estate tax exclusion between spouses would be retained. The top tax rate would be 45 percent and the exclusion amount would be $3.5 million for generation-skipping transfer taxes and estate taxes, and $1 million for gift taxes.

Depreciation rules for corporate aircraft would also change under the budget proposal. The depreciation period for planes not used in commercial aviation or to carry freight would go from five years to seven years. The move is estimated to cut $2.7 billion from the deficit over the next decade.

Sansone Accounting & Tax can help lessen your tax liability. Sansone is known for guiding clients through planning and preparation decisions to minimize their income taxes. Whatever business finance issues you want to address, Sansone prides itself on being available to play a major role in supporting financial planning, record keeping and tax consulting. If there is anything Sansone can help your business with, please schedule an appointment with one of its certified public accountants by calling (815) 459-4300.

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Wearing those jeans (and other articles of clothing) another time or two before throwing them in the wash may be very practical over the next few weeks.

That is because fire hydrant flushing will be going on throughout Crystal Lake until mid-May. Different areas of the city will be pegged for hydrant flushing in five-day increments through May 10. During hydrant flushing, clothes can wind up iron-stained when run through a washing machine cycle.

City officials contend the water will be safe to drink during flushing, but that laundry stains could occur. Should your laundry be stained during hydrant flushing, the city is offering Rover, a chemical that can take iron stains from clothing.  Residents can receive Rover from the city free of charge.

Residents are advised to limit their water use when flushing is being done in their area.

A hydrant-flushing map is posted on the city’s website, www.crystallake.org.  Changes to the flushing schedule will be posted on the city website.

Hydrant flushing is necessary to cleanse the city’s water distribution system and so that the Crystal Lake Water Department can inspect the hydrant system.

As flushing takes place, some water discoloration can occur as iron is removed from the system.

The flushing schedule for other areas is:

-          Through Friday:     South of Route 176 to Route 14

East of Main Street to Route 31 (south of Crystal Lake

Avenue)

East of Route 31 and south of Route 14 to Wal-Mart

-       Monday to April 12:  South of Route 176 to Route 14

East of Route 14 to Main Street

-       April 15-19:             South of Route 14 and east of McHenry Avenue to Route

31

-       April 22-26:              West of Route 14 and McHenry Avenue north of Barlina

-       April 29-May 3:        South of Barlina to Alexandra

West of McHenry Avenue and west of Randall Road

-       May 6-10:                  South of Alexandra to Miller Road

West of Randall Road

Flushing has already taken place in two areas of the city: north of Route 176 and east of Route 14, and east of Pingree Road and north of Crystal Lake Avenue.

Sansone Accounting & Tax provides this information as a community service. Sansone is known for guiding clients through planning and preparation decisions to minimize tax liabilities. Whether the health care law or new business taxes, Sansone prides itself on being available to play a major role in supporting business financial, record keeping and tax-planning issues. If there is anything Sansone can help your business with, please schedule an appointment with one of its certified public accountants by calling (815) 459-4300.

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Entrepreneurs these days are opting to put their money toward retirement instead of Rolexes.

That is because there are huge tax advantages to doing so. Self-employed individuals are able to sock a lot more away for retirement than are salary or hourly workers.

A 35-year-old entrepreneur who earns $150,000 can put a staggering $47,500 into a 401(k) plan. If that same 35-year-old is working for The Man, he can only put $17,500 into a 401(k). Even he gets the typical 4 percent match from his company, he ends the year with $23,500 in his retirement fund – less than half of what the entrepreneur can bank.

And like fine wine, the tax advantages to putting money into retirement funds only get better with age. A 52-year-old entrepreneur earning $300,000 can establish a one-person defined-benefits pension plan, coupled with a 401(k), to keep $169,800 off of his income taxes, Karen Shapiro, chief executive officer of Dedicated Defined Benefit Service in Oakland, Calif. told Forbes magazine.

Economists and congressional leaders have put pressure on employers to enroll workers in 401(k) programs to ensure more have retirement plans in place. However, the self-employed have received no such nudging and need to make their own decisions about how to finance their golden years. But the laws are in their favor to do so.

Creating defined-benefits plans and other steps can cut the paying of federal, state and local income taxes. And individuals who draw on their retirement funds in income-tax-free (and well as winter-weather-free) states, such as Nevada and Florida, can dodge those state taxes.

Individuals age 50 or older who earn big and are able to save big for at least five years should consider a defined-benefits pension plan. That is because the government allows you as an employer to deduct the full cost of funding a fixed pension for you as an employee in the years immediately before a given retirement age – no matter how long you plan to continue working. One University of California professor socked away $100,000 a year in consulting income for a decade and, now in his mid-60s, has rolled more $1.6 million into an IRA that he will start drawing on at age 70.

But know that once you begin such a plan you must make contributions every year. So you need to make sure that you can bank on the money you plan to use for the defined-benefits package.

For entrepreneurs looking for shelters now and not years down the road, there is the option of opening an SEP-IRA. The free or minimal fee retirement fund can be opened and funded for your 2012 taxes until Oct. 15, if you file for a tax extension.

You can contribute up to 20 percent of your net earnings to an SEP-IRA, up to a maximum of $50,000 for 2012 and $51,000 for 2013.

Know that whatever percentage you give yourself as the employer, you will also need to provide to all other employees who are at least 21 years old, with you for at least three of the last five years, and earning at least $550 from you last year.

If you would rather go with a traditional 401(k) set-up rather than a SEP-IRA, know that anything established now could only go for 2013 taxes. The ship has sailed for affecting 2012 taxes by establishing a 401(k). But if you establish such a retirement fund now, you can hold off on making the contributions until your 2013 taxes are due, however. You can contribute $17,500 to a 401(k) annually if under age 50 and $23,000 if 50 or older.

Sansone & Associates, P.C. can show you the tax benefits of various retirement plans and how they can best work for you. We are known for guiding clients through planning and preparation decisions to minimize tax liabilities. Whether personal or business tax issues have you fretting, we pride ourselves on being available to play a major role in supporting your financial, record-keeping and tax-planning issues. If there is anything we can help you with, please schedule an appointment with one of our certified public accountants by calling (815) 459-4300.

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Turning to certified QuickBooks ProAdvisors, like the experts at Sansone Accounting & Tax, is a great step to ensuring your business’s books stay in order.

Bookkeeping does not have the regulations of accounting, financial planning and other white-collar professions that deal with money. So, if you opt for a bookkeeper instead of a certified public account to oversee your company finances, without that monitoring and certification mandated for CPAs, how can you be assured your business’s finances will be accurately monitored and coordinated by an outside bookkeeper?

Without a lot of certifications in the bookkeeping field, it is always better to turn to a CPA to oversee your business’s books. However, if you are going to go with a bookkeeper, make sure that person has an Intuit ProAdvisor certification. It is a designation that carries a lot of weight. It shows the bookkeeping professional has gone through substantial training and can help you install and operate QuickBooks in your business.

Certain financial avenues involving your business should only be addressed by a CPA. Areas, such as taxes, financial reporting, audits and advisory services should only come from a certified accountant. There is definitely a connection among education, certification and price. CPAs have proven their financial knowledge through hours of education and testing. With financial competency having to be shown in order to join the ranks of certified public accountants, you are assured that any CPA you pick has a basic proficiency in financial record-keeping. With bookkeeping being unregulated, you get no such minimal competency assurances. So the difference between a good bookkeeper and a bad bookkeeper can be staggering.

Even with QuickBooks, it is better to go with a CPA who can give you more information and options on QuickBooks as well as your business’s financial oversight. But for individuals wanting to have a bookkeeper handle some of the financial oversight of their business, make sure the individual has QuickBooks ProAdvisor experience.

Whether considering a certified public accountant or bookkeeper, make sure QuickBooks Pro Advisor is part of the individual’s or firm’s certification. It is the pinnacle of certification. Intuit is the clear leader in ensuring financial record keepers meet industry standards.

Intuit’s training promotes the use of QuickBooks, but with Intuit and QuickBooks so dominant in the financial management software field, it simply makes sense for record keepers to be well versed in the company’s software. The lion’s share of small business using financial management software turns to Intuit and QuickBooks.

The ProAdvisor certification requires that individuals pass an online test showing proficiency in the using of QuickBooks for businesses’ financial management. ProAdvisor members get free software, a hotline for tech support, and more certification programs. Certification is specific for particular years. For example, individuals certified for QuickBooks Pro 2012 are not certified for QuickBooks Pro 2011. Normally the more certifications compiled, the higher rate the business finance expert will require to take on assignments.

Make sure any individuals or firms you consider are QuickBooks Pro certified. Individuals claiming they are QuickBooks ProAdvisors are not certified, but have simply paid to be part of the advisory group.

An individual listed as a certified QuickBooks Pro advisor has shown that he or she has spent the time and effort to go through the training.

Sansone Accounting & Tax is known for guiding clients through planning and preparation decisions to minimize tax liabilities. Whether it be QuickBooks Pro or new business taxes, we pride ourselves on being available to play a major role in supporting your financial, record-keeping and tax-planning issues. If there is anything we can help you with, please schedule an appointment with one of our certified public accountants by calling (815) 459-4300.

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Let all the filing begin!

The Internal Revenue Service has announced that all tax-return filings that were held up by the 11^th- hour negotiations and passage of the American Taxpayer Relief Act are now being accepted.

There were 29 tax forms that were delayed as national leaders carved out the budget plan to avoid the “fiscal cliff,” a long-established chain of tax increases and spending cuts, if certain steps were not taken.

All forms that were delayed until details of the Taxpayer Relief Act were ironed out can now be submitted to the IRS. Electronically filed returns that were being held until all Relief Act numbers and stipulations were worked out started being accepted this week.

With the delayed tax forms now being accepted, IRS officials say that all 2012 forms can be submitted.

The depth of changes needed to the tax forms and processing methods put certain tax returns into a holding pattern.

Forms that were delayed are:

-        Form 3800 – General Business Credit

-        Form 4136 – Credit for Federal Tax Paid on Fuels

-        Form 5074 – Allocation of Individual Income Tax to Guam or the Commonwealth of the Northern Mariana Islands

-        Form 5071 – Information Return of U.S. Persons With Respect to Certain Foreign Corporations

-        Form 5695 – Residential Energy Credits

-        Form 5735 – American Samoa Economic Development Credit

-        Form 5884 – Work Opportunity Credit

-        Form 6478 – Credit for Alcohol Used as Fuel

-        Form 6765 – Credit for Increasing Research Activities

-        Form 8396 – Mortgage Interest Credit

-        Form 8582 – Passive Activity Loss Limitations

-        Form 8820 – Orphan Drug Credit

-        Form 8834 – Qualified Plug-in Electric and Electric Vehicle Credit

-        Form 8839 – Qualified Adoption Expenses

-        Form 8844 – Empowerment Zone and Renewal Community Employment Credit

-        Form 8845 – Indian Employment Credit

-        Form 8859  – District of Columbia First-Time Homebuyer Credit

-        Form 8864 – Biodiesel and Renewable Diesel Fuels Credit

-        Form 8874 – New Markets Credit

-        Form 8900 – Qualified Railroad Track Maintenance Credit

-        Form 8903 – Domestic Production Activities Deduction

-        Form 8908 – Energy Efficient Home Credit

-        Form 8909 – Energy Efficient Appliance Credit

-        Form 8910 – Alternative Motor Vehicle Credit

-        Form 8911 – Alternative Fuel Vehicle Refueling Property Credit

-        Form 8912 – Credit to Holders of Tax Credit Bonds

-        Form 8923 – Mine Rescue Team Training Credit

-        Form 8932 – Credit for Employer Differential Wage Payments

-        Form 8936 – Qualified Plug-in Electric Drive Motor Vehicle Credit

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Crystal Lake is conducting a contest for all of history – the city’s history, that’s is.

The city will mark its 100^th year since incorporation next year and is looking for a dynamic logo to celebrate the event.

The Crystal Lake Centennial Committee and the Crystal Lake City Council are seeking ideas for the municipal logo that will recognize the milestone event. Artistic ability is not required as the logo contest just requires the idea, not the actual logo. Individuals can submit artwork, but are not required to do so.

Crystal Lake was incorporated Sept. 23, 1914.

Members of the Centennial Committee have been given the task of developing and implementing a celebration for the municipality’s 100^th year of incorporation. The committee intends to educate residents on the city’s history and plan an event that honors Crystal Lake’s last 100 years and points it toward its next 100.

Four logo contest finalists, chosen by the Centennial Committee, will earn a $100 I Shop Crystal Lake gift certificate. The contest winner, chosen by the Crystal Lake City Council, will also receive a $100 I Shop Crystal Lake gift certificate and recognition as a creative partner in establishing the logo.

Officials said the logo will be used for advertising, banners, patches and other promotional items.

Entries must be submitted by March 22. A logo idea submission form can be found at http://www.crystallake.org/Modules/ShowDocument.aspx?documentid=7047. Artwork without a completed entry form will not be judged.

The contest is open to individuals of any age who live, work or study in Crystal Lake. Employees of the city are not eligible to participate. There is no fee to participate in the contest and individuals may submit up to two entries – each with a separate entry form. Judging will be final and appeals will not be heard.

The logo must be original. No third-party art (clip art or photos) should be included. The words “Crystal Lake” and “centennial” need to appear on the logo. The creation must be in color and there is a four-color limit.

Contest organizers note that logo images cannot include individuals living or dead without permission and cannot require compensation for the creator or the individual(s) depicted on the logo.

Artwork will not be returned and all submissions become the property of the city of Crystal Lake. Submitted artwork may be hung in public buildings.

Submitting an entry allows use of the entrant’s photo, name and other information in advertising and other event materials.

Final illustrations must be on poster board (8 ½ x 11) and submitted to: Crystal Lake Centennial Logo Contest, Crystal Lake City Hall, 100 W. Woodstock St., Crystal Lake, IL 60014.

For information, contact George Koczwara, deputy city manager, at gkoczwara@crystallake.org.

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