Opulent Key, LLC

01/09/2023

The IRS has a warning for early tax filers: You'll need to wait for "key documents" before submitting your return. Here's what to know before filing.

04/18/2022

IR-2022-86, April 15, 2022 — The Internal Revenue Service is reminding taxpayers the deadline to file and pay tax owed for most individual income tax returns is Monday, April 18. The agency wants last-minute filers to know tax help is available to file a tax return, request an extension or make a ...

04/18/2022

01/12/2022

The IRS is warning that the level of service could be "frustrating for taxpayers."

01/07/2022

As of Jan. 1, mobile payment apps like Venmo, PayPal, Zelle and Cash App are required to report commercial transactions totaling more than $600 a year to the IRS.

10/02/2021

Multiple taxpayers have contacted Action 9′s Jason Stoogenke, saying they got a letter in the mail. It looks like it’s from the IRS, but they’re not sure and they don’t want to fall for a scam.

07/30/2021

Millions are still waiting for their past-due refund money. Here's what we know about where it is and why it's delayed.

05/26/2021

The Internal Revenue Service has released more information about when the expanded Child Tax Credit will begin and when portals will be available to help parents enter information if needed.

03/28/2021

IR-2021-59, March 17, 2021 — The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021.

02/19/2021

02/19/2021

TAX CLIENTS..........IMPORTANT DATES TO REMEMBER...

Feb. 22 – IRS.gov Where’s My Refund tool will be updated for those claiming EIC and ACTC (PATH returns)

First week of March – tax refunds dispersed to those claiming PATH Act returns and those who file electronically with direct deposit

Apr. 15 – Deadline for filing 2020 tax returns

Oct. 15 – Deadline to file for those requesting an extension on their 2020 tax returns

Get My Economic Impact Payment Get Coronavirus Tax Relief Get Your Refund Status File Your Taxes for Free Get Your Tax Record View Your Account Make a Payment Apply for an Employer ID Number (EIN) Forms and Instructions 1040 and Schedules 1-3 Individual Tax Return Other 1040 Schedules Information Ab...

01/22/2021

Repost 🚨🚨🚨 I AM NOT GOING TO JAIL FOR A FEW DOLLAR'S!!!

I've come to the conclusion that a tax and credit course is thoroughly needed in our community. I know the tax lingo and jargon can be confusing at times so a friend of mine came up with some simple rules to break it down.

NEW TAX LAWS -let’s start there!!!

❗❗Don't ask me to do anything illegal.. I love my freedom and family. It's not worth it at the end of the day anyway!! Do you ask Susan at Wal-Mart to slide you a free bar of soap? Why would you ask me to put illegal things on your return? 🤦🏾

‼️‼️It DOES NOT matter how many kids you have, if you did not work you're not getting a LARGE REFUND. We've seen people come in with a W-2 for literally .10 cents expecting thousands back because they have dependents. 🤦🏾‍♀️. I would have to give you my tax advice on how to make sure you can get a refund next year.

🛑Just because you have social security and medicare taken out your check (which are mandatory by the way) it has NOTHING to do with FEDERAL TAXES taken out on box 2 of your W2. Box 2 is just as important as Box 1.

🛑A 1099 Misc is not the same as a W2. 1099's have no federal taxes withheld. So your return is not going to be the same as your friends, co workers, cousins etc if you have a 1099 and they have a W2.

🛑Unemployment is NOT TAXABLE and if you didn't pay in withholdings don't get upset when your refund is $500 compared to $3000 last year. You knew this from the start that unemployment is the government money.

‼️‼️9 times out of 10 the more money you make the less your return will be. Ex: If you worked half the year in 2019 and only made $30,000 with 2 dependents and made $10,000 working the full year in 2020 you will NOT get that SAME refund.

‼️‼️The song "Mo Money, Mo Problems" is for real. As you become more successful and make more money you need to understand those days of getting big refunds are OVER! In fact, you should prepare to break even or put money aside to pay the IRS money you may owe them.

🛑Listen to the song "Brackets" by J. Cole

‼️‼️❌‼️‼️Just because you think you know how to use turbo tax doesn't mean you know tax rules or tax laws. Just because you've heard that your friends are getting a huge refund don't get jealous or assume that they are doing their taxes legally. We've heard and seen it all in 10 years. Just because you can input any numbers you want, that does not mean they are the correct numbers.

‼️‼️The IRS can go back as far as 3 years to audit your returns and if they do find something they charge interest on their findings.

‼️‼️‼️Asking someone how much they charge before even presenting them what your tax issue is is an insult to the accountants knowledge, work and experience. We understand everyone is looking for a deal but remember the saying, "You get what you pay for!" Would you want a "cheap" guy on the corner who owns a screwdriver to change your engine? Or would you want a licensed mechanic? You damn sure don't negotiate about the price of Gucci or those Jordan's on your feet do you?

🛑If you own a business. Have proof, paperwork, receipts or a tax id. Also pay the IRS during the year 🤷🏾‍♀️