Garr & Associates

01/12/2026

REMINDER:

January 15th is the due date for the 4th estimated tax payment for 2025.

Underpayments can trigger penalties starting at 0.5% per month, increasing up to 25%, plus interest

12/18/2025

Here are some tax saving tools you can use as a W2 earner.

12/12/2025

10/03/2025

IRS will no longer be accepting or disbursing paper checks.

An Executive Order issued March 25, 2025, has mandated the transition to electronic payments for all federal disbursements and receipts, which includes payments to and from Treasury(IRS) for tax payments and refunds. On Sept. 23, 2025, the IRS announced in a news release that paper tax refund checks will be phased out beginning Sept. 30, 2025. FOR NOW, taxpayers should continue to use existing payment options until further notice. The IRS will issue more guidance as they begin implementation.

P.S. REMINDER: If you filed an extension for your personal taxes this year, the due date to file your return is October 15th, 2025.

07/25/2025

The Lifetime Learning Credit can be a beneficial and often overlooked tax savings credit. It’s a nonrefundable credit up to $2,000 for the first $10,000 in educational expenses.

So if you, your spouse or your dependent are improving work skills, etc. and receive a 1098 T, be sure to look into the Lifetime Learning Credit.

07/19/2025

IRS staffing has been cut by roughly 25%. What this means to taxpayers?

While many may feel optimistic about a possible reduced audit risk, there will most likely be real challenges in the upcoming filing seasons.

Some of the challenges may be: extended wait times for IRS correspondences, longer refund processing times, longer filing processing times, increased errors in automatic taxpayer notices.

You can avoid some headaches by: filing timely or filing an extension with payment, paying all estimates if required, maintaining and updating your books and records.

07/17/2025

If you are currently using Quick Books Online, they are currently launching a substantial update. You can opt out for July and August but by September, all accounts will be updated to the new system.

Looks like a major overhaul to the bank feed, more options during the transaction process, and some other app integrations like MailChimp etc.

This is a major change to core workflows so be prepared for the change and let's hope it actually improves the system.

07/15/2025

Last chance to receive the Solar Tax Credit.

If you are/were planning on installing solar or certain other qualified clean energy systems in hopes of receiving a tax credit, you have until December 31, 2025 to place these systems in service to receive the 30% non-refundable credit. Non-refundable meaning it will only offset a tax liability but not provide a refund. The excess amount would be carried forward for future years.