Naro Tax Services

04/26/2021

https://www.cbsnews.com/news/tax-refund-delay-irs-manual-processing/

People usually get their refunds within three weeks, but this year is proving complicated for nearly 30 million filers.

08/12/2020

Calling all Elyria businesses

07/30/2020

As the school year approaches, many students and parents need to complete their FAFSA application. Let Naro Tax Services help take the stress off of this process. Call to schedule your appointment and we can work with you to quickly and easily get the application completed and submitted.

06/30/2020

Time is almost up! We are taking appointments and accepting dropped off documents.

The IRS deadlines to file and pay federal income taxes are automatically extended to July 15, 2020. For more information, visit: https://www.irs.gov/coronavi...

06/30/2020

We loved the lock box that donated to our small business so much that we bought another one to go with it. Thank you Master Lock!

06/02/2020

If you are waiting for your stimulus money, open all of your mail. You don't want to accidentally throw it away.

The latest round of stimulus checks was issued in the form of prepaid debit cards — in plain white envelopes that don't bear any federal markings.

05/29/2020

If you haven't received your stimulus payment yet, you are not alone.

The Internal Revenue Service says it's sent stimulus payments to more than 150 million people as of last week -- but not everyone who is eligible for the payment has gotten their money yet.

03/28/2020

Beware of Stimulus Payment Scams

Be alert for phone scams.
The Internal Revenue Service (IRS), Treasury Department, or any other government agency will not contact you by phone to collect information for stimulus payment processing. Period.

Be alert for phishing scams.
Government agencies will not email or text you to collect information for stimulus payment processing. Watch for suspicious emails or texts with links or attachments requesting information for processing stimulus deposits or checks. If you receive one, do not click the link or open the attachment. It’s a scam. Delete it.

Be alert for state-related scams.
State agencies will also not call, email or text you to collect information or a fee to process a stimulus payment. To date, no state has introduced their own version of a stimulus payment.
As of now, we are only aware of one communication a taxpayer will receive from the IRS. No later than 15 days after distributing a stimulus payment, the IRS is required to mail a notice to the taxpayer indicating the payment amount, whether the payment was mailed or deposited, and a phone number to call if the taxpayer did not receive the payment.

Victims or targets of stimulus payment scams should report it immediately to the Federal Trade Commission, www.ftc.gov/complaint.

We will provide more information about the IRS’s plans to process stimulus payments as it becomes available.

IdentityTheft.gov is the federal government's one-stop resource for identity theft victims. The site provides streamlined checklists and sample letters to guide you through the recovery process. Visit ftc.gov/idtheft for prevention tips and free resources to share in your community.

03/27/2020

https://www.tax.ohio.gov/Portals/0/communications/news_releases/Incometaxfilingextended03272020.pdf

03/26/2020

COVID-19 - Tax Return Filing & Payment Relief

I have tried calling the IRS for help, but I have been unable to reach anyone by telephone. What should I do?
Limited live telephone customer service assistance is currently available due to precautions taken to protect IRS employees from the coronavirus. High demand has created very lengthy wait times. The IRS encourages people to use IRS.gov for information.

How can I keep up with the IRS response to the Coronavirus and COVID-19 legislation?

For the most up-to-date information, visit the IRS Coronavirus page https://www.irs.gov/coronavirus. As information is released regarding stimulus payments and legislation, it will be posted to this page. More FAQs can be found at https://www.irs.gov/newsroom/filing-and-payment-deadlines-questions-and-answers.

To explain the tax relief for those affected by coronavirus.

03/23/2020

In compliance with the order from the Ohio Department of Health, we are closing our office until April 7th. We apologize for this inconvenience and are disappointed that we will not be able to meet with you at your scheduled time. We will be working remotely! If you would like to mail*, email** or fax*** your documents, please feel welcome. If you’d rather re-schedule your appointment, please feel free at http://naro-tax.com/schedule-your-appointment

Thank you for your understanding during this time. We appreciate you and your continued support.

* Naro Tax Services 150 Kerstetter Way Elyria, OH 44035

** [email protected]

*** 440-334-5393

Here is a link to suggested documents to send: http://naro-tax.com/document-checklist/

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03/19/2020

IRS NOTICE: Payment Deadline Extended to July 15, 2020

The Treasury Department and the Internal Revenue Service are providing special payment relief to individuals and businesses in response to the COVID-19 Outbreak.

Highlights

Filing Deadline

The filing deadline for tax returns remains April 15, 2020. The IRS urges taxpayers who are owed a refund to file as quickly as possible. For those who can't file by the April 15, 2020 deadline, the IRS reminds individual taxpayers that everyone is eligible to request a six-month extension to file their return.

Payment Relief - Individuals

Income tax payment deadlines for individual returns, with a due date of April 15, 2020, are being automatically extended until July 15, 2020, for up to $1 million of their 2019 tax due. This payment relief applies to individuals, trusts and estates. IRS will automatically provide this relief to taxpayers. Taxpayers do not need to file any additional forms or call the IRS to qualify for this relief.

Payment Relief - Corporations

For C Corporations, income tax payment deadlines are being automatically extended until July 15, 2020, for up to $10 million of their 2019 tax due.
Estimated Tax Payments
This relief also includes estimated tax payments for the tax year 2020 that are due on April 15, 2020.

Penalties and Interest

Penalties and interest will begin to accrue on any remaining unpaid balances as of July 16, 2020. If a tax return or extension is filed by April 15, 2020, the taxpayer will automatically avoid interest and penalties on the taxes paid by July 15.

States

This relief only applies to federal income tax (including tax on self-employment income) payments otherwise due April 15, 2020, not state tax payments or deposits or payments of any other type of federal tax. State filing and payment deadlines vary and are not always the same as the federal filing deadline. We expect state tax agencies to announce any available tax relief for affected taxpayers in the coming days; some have already published these notices on their websites.