Pendleton and Company, P.C.

01/04/2023

Help us get a head start on preparing your taxes by filling out this tax questionnaire.

12/19/2022

Due to the weather outlook for Thursday, December 22nd, we are looking at closing at noon on that day.

10/07/2022

I have apparently been hacked. Someone is sending messages in my name in Messenger. I have never used that means. If you receive something that way, please don’t open it & please report it.

06/13/2022

The IRS has announced that the standard mileage rates are increasing. Beginning July 1, 2022, the rates are 62.5 cents per mile for business use of an automobile and 22 cents per mile for costs of using an automobile as a medical or moving expense.

06/02/2022

Items to consider for those who have recently married:

Name and address changes. Individuals who change their name after marriage should report their name change to the Social Security Administration (SSA) as soon as possible. The name on an individual's tax return must match the name associated with their SSN on file with the SSA. A name and SSN mismatch may delay or prevent processing the individual's return.

Individuals should file Form SS-5, Application for a Social Security Card to update their information with the SSA.

Individuals will also need to notify the IRS if they change their address after getting married. Individuals should notify the IRS of an address change using Form 8822, Change of Address .

For more information about how to notify the IRS of an address change, see Topic 157, Change Your Address - How to Notify the IRS .

Double-check withholding. Newly married couples should check their tax withholding. If both spouses work, they may move into a higher tax bracket or be affected by the additional Medicare tax. Completing new Forms W-4, Employee's Withholding Allowance , will allow the couple's employers to withhold the correct amount of federal income tax.

Couples can use the IRS's Tax Withholding Estimator to help them complete new Forms W-4.

In certain situations, newly married couples must give their employers a new Forms W-4 within 10 days after changing their filing status.

Couples should review IRS Publication 505, Tax Withholding and Estimated Tax , for more information about completing Form W-4.

Filing status. Married couples can choose to file their federal income taxes jointly or separately each year. For most couples, filing jointly makes the most sense, but each couple should review their own situation.

Note. If a couple is married as of December 31, they are married for the whole year for tax purposes.

03/22/2022

We once more have phone and internet. Thank you for your patience.

03/22/2022

Update: Our phones were down yesterday and continue to be down as of this time. Also, due to the weather, we are looking at opening late today. Stay safe and stay warm!

02/27/2022

For those of you who are out of town or want to fill our annual tax preparation questionnaire early, I am including a copy of it with this post. Please don't hesitate to call us with any questions you have regarding these questions and we look forward to seeing you this year!

02/03/2022

Due to the inclement weather today. Our office will be closed. We plan to be back open Friday at 8:30. Everyone stay safe and stay warm!

02/01/2022

According to the IRS, following these tips will help speed tax return processing and avoid refund delays:

Collect all documents before preparing and filing a return. Before preparing a tax return, a taxpayer should make sure they have all the documents needed to prepare an accurate return. Taxpayers who don't want to encounter processing delays should make sure they correctly report their stimulus payment (EIP) and advance Child Tax Credit (ACTC). In addition to collecting W-2s, Form 1099s and other tax-related statements, taxpayers who received an EIP or ACTC payments should also have their Advance Child Tax Credit (Letter 6419) and Economic Impact Payment (Letter 6475) letters on hand when preparing their returns. See IRS to mail information letters to advance child tax credit recipients (01/05/2022).

Letter 6419, 2021 Total Advance Child Tax Credit Payments, tells taxpayers who received ACTC payments how much they received. Since the ACTC payments represented about one-half of the total credit, taxpayers who received ACTC payments need to file a return to collect the rest of the credit.

Note. Taxpayers who can't find their Letter 6419 can check how much they received using the IRS's CTC Update Portal.

Letter 6475, Your Third Economic Impact Payment, tells taxpayers who received an EIP in 2021 the amount of that payment. Taxpayers need to know that amount to determine if they can claim an additional amount on their tax return (The Recovery Rebate Credit or RRC). Taxpayers who don't receive a Letter 9475 or can't find the one the IRS sent, can use their IRS online account to get this information.

Taxpayers who received an EIP or ACTC payments must include that information on their return. Failure to include this information, according to the IRS, means the return is incomplete and will require additional processing which may delay any refund owed to the taxpayer.

Taxpayers should e-file their return and use direct deposit. Taxpayers should e-file their return and choose to have their refund direct deposited as soon as they have all the information needed to file an accurate return. For taxpayers preparing their own returns, tax preparation software helps individuals avoid mistakes by doing the math and guides taxpayers through each section of their tax return using a question-and-answer format.

Use online resources to get answers before calling the IRS. The IRS urges taxpayers to use IRS.gov to get answers to tax questions, check their refund status or pay taxes because of lengthy delays on IRS phone lines.

11/17/2021

https://www.irs.gov/newsroom/get-ready-for-taxes-easy-steps-taxpayers-can-take-now-to-make-tax-filing-easier-in-2022

IR-2021-217, November 8, 2021 — The Internal Revenue Service today encouraged taxpayers, including those who received stimulus payments or advance Child Tax Credit payments, to take important steps this fall to help them file their federal tax returns in 2022.