Jennifer Smydra, CPA LLC

04/15/2026

It's been a great year. As always, never have as much done as I want to, but still managed to get more done by the 15th than last year.
Thanks to my great staff, we had the smoothest season we've ever had. I appreciate their attention to detail, attentiveness to my client's needs, and especially their focus on trying to keep my schedule flowing so that I have a few minutes each day to breath a little.

With that in mind, we are all sleeping late and relaxing Thursday, April 16th. Will be back at it on the 17th to start dealing with a slew of extended returns.

Wednesday is our Friday :)

03/18/2026

Long read (shocker) regarding the IRS Modernizing Payments to & from the government.

Basically, they are transitioning people to fully electronic payments both to and from the IRS.

This is a way to cut down on fraud...for example, someone doing a fraudulent return on someone else's identity and entering a different bank account for a refund.

As part of this process, going forward, refunds and payments need to be done electronically. There are exceptions to this, which can be marked in the electronic file. However, if you input your bank account info, it has to be very specific: joint account, checking or savings, etc.

This is just a growing pain year, hopefully will work itself out.

If you get this notice (CP53E) it is legit - if you choose to, you can set up an IRS online account (kind of a pain) and give them your bank account info. If you do nothing, a paper check will be issued within 6 weeks (supposedly).

FS-2026-02, January 2026 — This Fact Sheet provides answers to frequently asked questions about the implementation of Executive Order 14247, Modernizing Payments To and From America’s Bank Account.

02/07/2026

Part of the "modernization" efforts by the government are transitioning to electronic payments and electronic deposits.

What a great plan cause the government never gets hacked (*insert sarcastic tone*).

I guess the point is that they are able to track fraud and payments related to fraud if everyone is forced to do things electronically.

But hey, don't worry about me, I still take cash :)

If you didn't know, it took and accountant to take down Al Capone. So if my Secretary of Treasury Scott Bessent says this is a good idea, I'm on board.

It's not MANDATORY at this point to have your refund direct deposited, but it will cause a delay up to six weeks.

Details in the article below.

IR-2025-94, Sept. 23, 2025 — The Internal Revenue Service, working with the U.S. Department of the Treasury, today announced that paper tax refund checks for individual taxpayers will be phased out beginning on Sept. 30, 2025, as required by Executive Order 14247, to the extent permitted by law.

01/30/2026

Be sure to ask about Form 4547 when you file your 2025 tax return if this applies to your child.

01/28/2026

2025 Mileage Rates:

Standard mileage rates for 2025 are:
Self-employed and business: 70 cents/mile.
Charities: 14 cents/mile.
Medical: 21 cents/mile.

01/28/2026

If you are my client, feel free to call about this.

If you are, not my client, don't call me. We are completely FULL. However, I'm putting this out there, so you can do your own research.

Qualified industries for the no tax on tips:

01/26/2026

Nebraska eDASH is open today, to file your application for NE Child Care Refundable Tax Credit for any children 5 and under. Your household income must be under $150,000 to qualify for a partial or full credit of up to $2,000.

It is first come first serve. They have allocated $15 million towards this program. Once this much is claimed, no more will be allocated. I'd recommend filing ASAP. I think they ran out last year after only a few weeks.

There's all kind of rules and answered questions on this website. But they changed them last year so question what you think you can rely on.

01/09/2026

Here we go boys & girls.

Opening day for efile: January 26th.

I would encourage NO ONE to get excited, with all the new laws, there's bound to be limits on what can and cannot be filed on that day.

IR-2026-02, Jan. 8, 2026 — The Internal Revenue Service announced Monday, January 26, 2026, as the opening of the nation’s 2026 filing season. This year, several new tax law provisions of the One, Big, Beautiful Bill become effective, which could impact federal taxes, credits and deductions.

12/22/2025

Due to health issues and scheduling conflicts, I have no staff today in St Paul OR Loup City.
For that reason, Loup City will be closed today.
I will be working in St Paul.
I will be in appointments so please bear with me if you call or stop by.
Thank you for your understanding!

12/17/2025

The NEW 1099 reporting thresholds in the OBBBA DO NOT kick in until 2026.

2026 will be easier, but until then:

Please start getting your 1099 information ready so there's plenty of time to get them done - they are due by January 31st, 2026 for the 2025 tax year.

For a business, these would include rent, contract labor, machine hire, interest, etc for $600 or more.

A 1099 for payments to corporations is not required.

I pay big money for tax school so you don't have to 🤣