Cindy's Quality Tax

10/22/2026

Social Security Administration has released the yearly cost of living increase that will take place starting January 2027 will be 3.6%
Most Social Security recipients will see an approximate $75 increase on monthly benefits. I encourage everyone to establish your online access portals for detailed information on your benefits. See link below 👇👇 notices will begin to be available in November

Official website of the U.S. Social Security Administration.

10/06/2026

🚨Medicare Refunds🚨
Due to overpayment adjustments some Medicare recipients will be receiving a 1 time $90 payment beginning Oct 8th. These payments will be delivered via the method you receive your Social Security benefit.
Excluded recipients:
If these pertain to you then you DO NOT qualify for the reimbursement
🌟Those who also have Medicaid
🌟Those who pay higher Medicare rates adjusted for IRMAA (higher income)

10/04/2026

🚨TRUMP ACCOUNTS FOR CHILDREN ARE NOW AUTOMATIC🚨
This year parents had an option to enroll children into a Trump Retirement Account. Babies born in 2025 received a $1000 contribution from the federal government. Begining Oct 1st the treasury found a way to enroll every child without the consent of guardians. A Trust Account has been established to manage pooled investments from government entities and some non profit organizations. I am HIGHLY recommending every parent to review these new terms and make sure to stay informed regarding these new changes. Auto enrollment does not automatically grant you access. Those who wish to access your child's account and claim it on their behalf must do so on the website. Speak to your tax professionals or financial advisors if needed. Those wishing to invest in your child's future do have other tax advantage options aside from Trump accounts. Start asking questions 😊 our children's future is at stake, see Treasury site below to inquire or read more 👇👇

WASHINGTON — Today, the U.S. Department of the Treasury announced the completion of automatic enrollment for Trump Accounts, expanding access and creating a pathway for philanthropic contributions to invest in the financial futures of millions of American children. Trump Accounts are …

10/03/2026

🚨New Savers Match to replace Savers Tax credit🚨
Currently low income taxpayers who contribute to retirement receive a Savers tax credit to reduce tax liability. Starting 2027 this tax credit will be replaced by the Savers Match.

MATCH: 50% Match up to $2000 contributions
CAP: $1000 per person
DEPOSIT: Will go directly into your retirement account (2028) after claiming on your tax returns.
QUALIFICATIONS:
To qualify, you must meet ALL these requirements:
🌟You make contributions to your retirement plan or IRA (there is no minimum amount)
You are 18 by the end of the tax year
You are not a student as defined in section 152(f)(2)
🌟You are not claimed as a dependent on another person’s return
🌟You are a U.S. resident for tax purposes (generally nonresidents do not qualify.)
Note: Bona fide residents of U.S. territories claiming the Saver’s Match must file through their territory’s tax agency; the IRS cannot process these Saver’s Match claims.
INCOME LIMITS:

10/02/2026

🚨IRS PAYMENTS 🚨
IRS TREASURY refunds to millions who had ACA insurance coverage will start receiving checks for $500 as of this week. We have no clear guidance as of now on how they have determined who is eligible for these payments. Best advise is to be vigilant of your mail and also checking your transcripts online at irs.gov if you currently have or have had marketplace insurance in the past.

Pay your taxes. Get your refund status. Find IRS forms and answers to tax questions. We help you understand and meet your federal tax responsibilities.

09/30/2026

Tomorrow we are officially in October 🍁🍂 please make note of the following upcoming deadlines.

Oct 15 deadline for individuals on extension
Oct 15 C-corp deadline
Oct 20 sales tax deadline for monthly/quarterly
Oct 31 payroll employer reports Federal/State

09/14/2026

DEADLINE TOMORROW September 15th for all Partnerships and S Corporations. After this date efile is still available but IRS penalties for late filing will begin to incur.

08/28/2026

Another update to Form 1099 thresholds:

Beginning with payments made in 2026, the federal information reporting threshold increased from $600 to $2,000 for certain payments.

📌For Form 1099-NEC, this generally means a business must file the form when it pays $2,000 or more during the year for services performed by SOMEONE who is NOT its employee, assuming the payment is reportable.

📌The higher threshold also applies to several common Form 1099-MISC categories. These include rents, prizes and awards, other income payments, medical and health care payments, and certain other reportable payments.

📌Royalties remain reportable at $10 or more. Certain fishing-related payments also have separate reporting requirements.

📌Attorney payments deserve particular attention because the applicable threshold depends on what is being paid. Attorneys’ fees of $2,000 or more paid in the course of a trade or business are typically reported as nonemployee

Send a message to learn more

08/18/2026

‼️ FILING DEADLINE ‼️

Deadline for S-Corp and Partnerships is only a month away. September 15th will be here before we know it. Review for finalization appointments should be scheduled as soon as possible to avoid any delays 🙂

08/11/2026

IRS tax guidance resources will now be very limited availability in Spanish for Taxpayers.This will greatly impact the understanding of correspondence from IRS. Any clients needing assistance please feel free to reach out at any time. Myself and my team are here to help as always