Lori's Tax & Accounting

Lori's Tax & Accounting Income Taxes, Bookkeeping, Payroll Services, LLC Setup, Sales Tax Compliance & More! In collaboration with Amie’s Bookkeeping & More.
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Text or call Amie at 319-310-0024.

08/28/2026

📌 IRS Third-Party Authorizations — What You Should Know

Need someone to help with your taxes? The IRS has different types of authorizations:

Power of Attorney (Form 2848): Lets an authorized person represent you before the IRS.
Tax Information Authorization (Form 8821): Lets someone receive or review your tax information.
Third-Party Designee: Lets someone discuss a specific tax return with the IRS.
Oral Authorization: Lets the IRS share information with someone you bring into a call or meeting.
👉 The right authorization depends on what you want that person to do. Make sure you choose the one that fits your needs!

08/26/2026

📄 Need your tax records? Know which IRS transcript you need!

Whether you’re applying for a mortgage, completing financial aid paperwork, or just keeping your records organized, the IRS offers several types of tax transcripts for free.

Here’s a quick breakdown:

🧾 Tax Return Transcript: Shows most information from your original tax return. Available for the current and 3 prior tax years.
💰 Tax Account Transcript: Shows tax information and any changes made after filing. Available for the current and 9 prior tax years.
📋 Record of Account: Combines your tax return and tax account transcripts.
💼 Wage & Income Transcript: Shows information reported to the IRS from W-2s, 1098s, 1099s, 5498s, and more.
🚫 Verification of Non-Filing Letter: Confirms the IRS has no record of a processed return for a specific year.
How can you get one?
You can access transcripts through your IRS Individual Online Account, request one by mail, call 800-908-9946, or submit Form 4506-T.

⚠️ Important: A tax transcript is not a photocopy of your actual tax return. If you need a copy of the original return, you’ll need Form 4506, and a fee may apply.

💡 Save this post—you never know when you might need your tax records!

07/23/2026

💙 Keep Track of Your Charitable Donations!

🎉 Good news for 2026: Even if you don't itemize deductions, you may be able to deduct up to $1,000 in cash donations ($2,000 for married couples filing jointly) made to qualified charities.

Good recordkeeping can save time at tax season and help support your deduction.

✔️ Keep receipts or bank records for all cash donations.
✔️ Donations of $250 or more require a written acknowledgment from the charity.
✔️ Keep a list and estimate the fair market value of donated items like clothing or household goods.
✔️ Donations to individuals or personal fundraisers are not tax deductible.

06/11/2026

🌪️ Be Prepared Before Disaster Strikes

Hurricane and Tornado season has begun, but storms, floods, tornadoes, fires, and other emergencies can happen anywhere.

Take a few simple steps now:
✅ Review and update your emergency preparedness plan.
✅ Make electronic copies of important tax, financial, and personal documents.
✅ Store records securely in the cloud or on a flash drive.
✅ Take photos or videos of your home and valuables for insurance and tax purposes.

Being prepared today can save time, money, and stress when the unexpected happens.

06/02/2026

Hobby or Business?

Making money from a side activity you enjoy? The IRS may treat it as either a hobby or a business.

Ask yourself:
✔ Do you intend to make a profit?
✔ Do you keep good records?
✔ Do you operate like a business?
✔ Have you made changes to increase profits?

The IRS looks at all the facts and circumstances—not just one factor.

Also, payments received through apps like Venmo, PayPal, or Cash App for goods or services may be taxable and reported on Form 1099-K.

Not sure how your activity should be reported? Send me a message and I'll help you determine the correct tax treatment.

05/12/2026

📬 Got mail from the IRS? Don’t ignore it.

If you receive a letter or notice from the IRS, open it and read it carefully. Most IRS mail relates to your tax return or tax account and explains:

• Changes made to your return
• Taxes owed or payments due
• Requests for information
• Questions about credits or deductions

✅ First, compare the notice to your original tax return.
If you agree with the changes, keep the notice with your tax records.

⚠️ If you disagree, follow the instructions in the letter and respond promptly with any supporting documents.

💰 If there’s a balance due, don’t panic — the IRS offers payment options, and acting quickly can reduce penalties and interest.

📞 Need to contact the IRS? Use the phone number listed in the upper right corner of the notice and have your tax return handy.

🗂️ Keep all IRS letters and notices with your tax records for at least 3 years.

📧 Received an IRS letter and not sure what it means? Send me a copy of the notice so I can help you understand it and determine the next steps!

Remember: The IRS does send legitimate letters by mail, so never toss IRS mail aside unopened.

04/23/2026

Tax Return Filed? Here’s How to Check Your Refund Status

If you’ve filed your federal tax return and are expecting a refund, you have several convenient ways to track it:

🔎 Check Your Refund Status

Online: Use the IRS Where’s My Refund? tool
Account Alerts: Sign into your IRS Individual Online Account and opt in for email notifications on refund updates
Mobile App: Download the IRS2Go
Phone:
Refund hotline: 800-829-1954
Amended returns: 866-464-2050

⏱ When to Expect Your Refund

Status is typically available within 24 hours after e-filing
Most refunds are issued in less than 21 days

⚠️ Common Reasons for Refund Delays

Errors on the return (missing signature, math mistakes)
Claiming the Additional Child Tax Credit (requires extra review)
Missing or incorrect direct deposit information
Filing an amended return (longer processing time)
Requesting injured spouse relief (manual processing required)

04/09/2026

⏰ Need more time to file your taxes? Don’t wait—file an extension!

The April 15 deadline is almost here. If you’re not ready, you can request an extension and get until October 15 to file—without penalties.

⚠️ Important: An extension gives you more time to FILE, not more time to PAY. Any taxes owed are still due by April 15, 2026 to avoid penalties and interest.

If you can’t pay in full, there are payment options available—but don’t delay taking action!

04/02/2026

Don’t leave money on the table 💰

Even if you’re not required to file a tax return, you could still be missing out on a refund!

You may qualify if you:
✔️ Had taxes withheld
✔️ Made estimated payments
✔️ Qualify for tax credits

Credits to check:
• Earned Income Credit (EITC)
• Child Tax Credit (up to $2,000 per child)
• Credit for Other Dependents
• Adoption Credit
• Education Credits

📌 Bottom line: It may pay to file—even if you don’t have to!

Address

124 W Main Street
Manchester, IA
52057

Opening Hours

Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

Telephone

+15639202224

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