Tax Tech II

01/01/2021

04/10/2020

https://www.irs.gov/newsroom/treasury-irs-launch-new-tool-to-help-non-filers-register-for-economic-impact-payments

IR-2020-69, April 10, 2020 — To help millions of people, the Treasury Department and the Internal Revenue Service today launched a new web tool allowing quick registration for Economic Impact Payments for those who don’t normally file a tax return.

03/31/2020

Here is a good way to estimate your stimulus payments. Be sure to use your Adjusted Gross Income for estimation.

Stimulus Check Calculator: Find out how much your economic stimulus check will be using this handy tool.

02/06/2019

I copied this from another tax preparer page, however it fits, as the changes for this year are crazy!!

Saw another preparer ik post this and thought I would share 🤷🏽‍♀️

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.

2019 DOES HAVE NEW TAX LAWS -let’s start there!!!

‼️‼️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. 🤦🏿‍♂️

🛑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.

‼️‼️9 times out of 10 the more money you make the less your return will be. Ex: If you worked half the year in 2017 and only made $15,000 with 2 dependents and made $30,000 working the full year in 2018 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 🤷🏾‍♀️

01/31/2019

Watch out for this !!!
someone sent me this

ATTENTION!! So now the scammers have changed their tactics! We have been told in the past that the IRS will never call you or send you and email demanding money. They will send you a letter! Well the scammers have caught on and are NOW sending letters! If you should get one of these bring it to police to make sure!

01/18/2018

It's that time of year again. Call for an appointment. I can start e-filing on January 29, 2018.

04/06/2017

Tax Day is coming up on us really quickly. Call for an appointment soon!

03/04/2017

Have appointments available for March 11th! Call me and mention this and I will give you 10% off.

02/16/2017

Avoid the Rush: EITC and ACTC Refunds Expected to Arrive the Week of Feb. 27
WASHINGTON – As the IRS begins releasing refunds for taxpayers who claimed the Earned Income Tax Credit and the Additional Child Tax Credit, the tax agency reminded taxpayers that they should not expect refunds to be available in bank accounts or on debit cards until the week of Feb. 27. The additional time is due to several factors, including weekends, the Presidents Day holiday and the time banks often need to process direct deposits.
Many of these refunds had been held since the filing season started in late January due to new requirements of the 2015 Protecting Americans from Tax Hikes (PATH) Act.
The IRS reminds taxpayers that the most common question taxpayers have about the status of their refund can easily be answered on IRS.gov by visiting the “Where’s My Refund?” tool. “Where’s My Refund?” will be updated Feb. 18 for the vast majority of early filers who claimed the Earned Income Tax Credit and the Additional Child Tax Credit. Before Feb. 18, some taxpayers may see a projected date or a message that indicates the IRS is processing their return. The IRS added that taxpayers should keep in mind that “Where’s My Refund?” is only updated once daily, usually overnight, so there’s no need to check it multiple times per day.