JP's Accounting & Tax Services

01/05/2026

It’s not too early to get ready for the 2026 tax season

WASHINGTON — The Internal Revenue Service encourages taxpayers to take steps now to prepare for the upcoming filing season by visiting IRS.gov/GetReady for tips on what is new and what to consider before filing. This is the first in a series of special IRS "Get Ready" reminders to help taxpayers prepare in early 2026 for the upcoming tax filing season. A little advance work preparing paperwork and organizing information now can help with filing tax returns quickly and accurately.

It is important for taxpayers to get ready now because the One, Big, Beautiful Bill can significantly affect federal taxes, credits and deductions. The IRS and Treasury are working to implement the new legislation, including providing information on the new tax deductions, such as no tax on tips, no tax on overtime, no tax on car loan interest, the new temporary deduction for seniors and others. The IRS will release new information as it becomes available.

Gather and organize tax records
Having organized tax records helps taxpayers file complete and accurate tax returns and avoid errors that could delay refunds. Start by collecting:

Bank account information.
Forms W-2 from your employer(s).
Forms 1099 from banks and other payers.
Records of digital asset transactions.
Taxpayers should wait to file until they have received all their tax records. Keeping documents organized can also make it easier to locate information needed to claim deductions or credits.

Online Account
An IRS online account allows taxpayers to access personal tax information, including recently filed returns, securely. Through this tool, taxpayers can:

View tax records, including adjusted gross income and transcripts.
Make, schedule and view payments.
Get or view their Identity Protection PIN (IP PIN).
Authorize a tax professional to access their tax records digitally.
Access available Forms W-2 and certain 1099s.
Speed tax refunds with direct deposit

Direct deposit is the fastest way to receive a refund. Additionally, in accordance with Executive Order 14247, the IRS began phasing out paper tax refund checks on Sept. 30, 2025, which means most taxpayers must provide routing and account numbers to get their refunds directly deposited into their bank accounts.

Taxpayers without a bank account can learn how to open one at an FDIC insured bank or through the National Credit Union Locator Tool. Veterans, see the Veterans Benefits Banking Program for financial services options at participating banks.

Prepaid debit cards, digital wallets or mobile apps may support direct deposit. To use these options, taxpayers must have routing and account numbers associated with their personal accounts. Check with the mobile app provider or financial institution to confirm which numbers to use.

CALL JP's Accounting & Tax Services for help with your taxes (330) 244-8880

https://jptaxdr.com/

01/05/2026

CALL JP's Accounting & Tax Services for help with your taxes (330) 244-8880

https://jptaxdr.com/

As a owner, the daily operations of your organization depend on you. Don't forget that keeping good records helps you run your business smoothly. We have detailed information on the website that explains what important items you should keep records of and what information you need from them. Having this information handy will make preparing your taxes much simpler.

For more on recordkeeping, visit https://ow.ly/scfo50XQm19.

01/04/2026

What taxpayers can do to Get Ready for the 2026 tax filing season

The new year is less than a month away which means the 2026 tax filing season is drawing near. The IRS encourages taxpayers to “Get Ready” and start preparing now. Taking a few steps today can save time and help taxpayers ensure they’re filing accurate returns in the coming months.

The annual IRS Get Ready campaign is a series of tips, reminders and new information for taxpayers on what they need to know in preparation for filing season. For example, the One, Big, Beautiful Bill brings several changes or additions that can significantly affect federal taxes, credits and deductions. Tax deductions for tips, overtime, car loan interest and seniors are just a few of many recent updates.

Here’s some of the things taxpayers can do now:

Access or login to an existing IRS online account
An IRS online account allows taxpayers to access personal tax information, including recently filed returns, securely. Through this tool, taxpayers can:

View tax records, including adjusted gross income and transcripts
- Make, schedule and view payments
- Get or view their Identity Protection PIN
- Authorize a tax professional to access their tax records digitally
- Access available Forms W-2 and certain 1099s
- View and edit communication preferences from the IRS and alternative media such as Braille, large print and more
- Receive and view over 200 IRS digital notices
- Set up or change payment plans and check their balance
- Gather and organize tax records
- Having organized tax records helps taxpayers file complete and accurate tax returns and avoid errors that could delay refunds. This may also help the taxpayer identify deductions or credits that may have been overlooked.

Most income is taxable, including unemployment compensation, refund interest and income from the gig economy and digital assets. Taxpayers should watch for and gather essential forms, such as Forms W-2, Wage and Tax Statement and other income documents, when they become available in 2026.

CALL JP's Accounting & Tax Services for help with your taxes (330) 244-8880

https://jptaxdr.com/

John "JP" Pertl's Accounting & Tax Services offers very best one on one customer service that you

01/04/2026

"Trump accounts" (officially established under the One Big Beautiful Bill Act of 2025) and 529 plans are both savings vehicles for children's futures, but they differ significantly in their primary purpose, tax treatment, and flexibility.

Key Differences:
Tax Benefits: The main advantage of a 529 plan is completely tax-free growth and withdrawals for qualified education expenses, which can be a significant benefit when saving for college. Trump accounts are only tax-deferred, meaning earnings are taxed as ordinary income upon withdrawal, similar to a traditional IRA.

Flexibility: Trump accounts offer more flexibility in how the money can be used (e.g., for a down payment on a house, starting a business). 529 plans must be used for education-related costs to maintain their tax-free status, although the definition of qualified expenses has expanded.

Access: Trump accounts generally cannot be accessed before the child turns 18. 529 plans can be used at any time for eligible expenses, including K-12 tuition and supplies.

Recommendation:
For families prioritizing college or graduate school savings, a 529 plan is generally considered the more tax-efficient and powerful tool. However, since eligible children receive a free $1,000 initial deposit for a Trump account, most financial experts recommend opening both if possible, using the 529 for education goals and the Trump account as a flexible, supplemental long-term savings vehicle.

More information is available on official sources like the IRS and potentially trumpaccounts.gov when it is fully operational in mid-2026.
CALL JP's Accounting & Tax Services for help with your taxes (330) 244-8880

https://jptaxdr.com/

04/28/2025

California Wildfire Victims Qualify for Tax Relief; Various Deadlines Postponed to Oct. 15!

Tax relief for individuals and businesses in southern California affected by wildfires and straight-line winds that began on Jan. 7, 2025. These taxpayers now have until Oct. 15, 2025, to file various federal individual and business tax returns and make tax payments.

The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA). Currently, individuals and households that reside or have a business in Los Angeles County qualify for tax relief. The same relief will be available to any other counties added later to the disaster area.

https://jptaxdr.com/

04/25/2025

A taxpayer may be eligible for relief that provides for expanded access to their retirement funds if their principal residence was in a major disaster area and they sustained an economic loss due to that disaster. An economic loss includes, but is not limited to:

Being displaced from the taxpayer’s principal residence.
Loss or damage to or destruction of real or personal property from fire, flooding, looting, vandalism, theft, wind, or other cause.
Lost income due to temporary or permanent layoff.

These types of disaster relief are available to people who qualify:

May withdraw up to $22,000 from an IRA or other eligible retirement plan.
Amount exempt from the 10% early distribution tax.
May repay to a retirement plan or IRA within three years of the distribution.
Distribution may be included equally in income over three years.
A retirement plan may offer increased loan limits and delay repayments.

https://jptaxdr.com/

04/24/2025

Important Tax Forms and Payment Due Dates!

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04/10/2025

Eligible contractors who build or substantially reconstruct qualified new energy-efficient homes may be able to claim tax credits up to $5,000 per home. The amount of the credit depends on factors including the type of home, its energy efficiency, and the date when the home is acquired.

CALL JP's Accounting & Tax Services for help with your taxes (330) 244-8880
https://jptaxdr.com/

04/08/2025

Employer-Provided Childcare Credit!

If you provide childcare services to your employees, you may be eligible for this general business credit. It covers qualified expenditures for a childcare facility and for childcare resource and referral.

The Employer-Provided Childcare Credit offers employers a tax credit up to $150,000 per year to offset 25% of qualified childcare facility expenditures and 10% of qualified childcare resource and referral expenditures.

CALL JP's Accounting & Tax Services for help with your taxes (330) 244-8880
https://jptaxdr.com/