Jamison & Associates CPA's Inc

02/03/2022

Our office is currently closed due to the inclement weather.
-Jamison & Associates

03/23/2020

To our clients & colleagues,

As an accounting firm we are considered an essential business and will remain in operation during Governor DeWine’s stay at home order. Our office remains open from 9:00AM-5:00PM Monday-Friday, however, for the safety of our clients and staff we will not be performing any in person client meetings until at least April 7th. In addition, we will be implementing the following procedures:

• If you do have a need to come to our office to pick-up a tax return package or other documents, please call our office at 614-794-1771 when you arrive and one of our team members will bring your package out to your vehicle.

• If you need to drop off documents, we will have a locked box in our entry way and we ask that you please leave your documents in that box and to not enter our offices any further. We will be checking that box regularly and will get back in touch with you regarding additional information needed.

In many cases tax returns can be E-signed and much if not all exchanging of return information can be done electronically via email or our secure portal. We do encourage the usage of these tools during this time of limiting contact. Please call our office with questions or if you’d like to use our portal and have not yet done so.

Lastly, the IRS has confirmed that 2019 tax return filings & payments are now not due until July 15th. In addition, first quarter 2020 estimated tax payments are not due until July 15th, 2020. We are still awaiting guidance that the State & Local governments are also extending their due dates, but it is expected they will. We are working diligently to get all returns in our office completed as soon as possible. If you have not yet provided our office with your tax return information, you can still do so either electronically or by the drop-off procedure above.

The Team at Jamison & Associates

03/20/2020

To our Clients, Friends, and Colleagues,

For the past few months, it seemed like we were constantly hearing about the corona virus. It seemed far away and no need for alarm. Then it started getting closer and more people were infected. Schools and colleges were closed, then bars and restaurants, and now some national stores and soon car manufacturers. For the past 3 days, I have received numerous emails about the corona virus and what various vendors, tax departments, and health departments are doing or advising everyone to do. Each day we come to work to try to get tax returns completed and then we get inundated with new information about the virus and new closures.

Over the past few days, the federal government has been talking about stimulus packages and delayed tax payments. It will be a few days before we know how the various stimulus packages will affect us. On Wednesday, March 18, 2020, we finally have their decision on what the administration and the IRS has decided about this tax filing deadline. It may change over the next few days, but we are letting you know how it stands now.

Tax returns or extensions are still due April 15, 2020. If there is tax due, individuals and corporations can wait to pay their tax until July 15, 2020, up to $1 million for individuals and $10 million for corporations. There will not be any penalty or interest charged if paid by July 15, 2020. This relief also includes any estimated tax payments due April 15, 2020. Currently estimated tax payments due June 15, 2020, will still be due on that date.

Our office is currently remaining open with our normal tax season hours. You can still drop off your information and pick up completed returns. If you do not want to come into our office, you can call when you get here and we will come out to your car. We can also mail your returns if you do not want to stop by. We also have the capability to send the Form 8879 for efiling of returns to you for electronic signatures, and have a secure Sharefile portal for sharing documents. You just need to let us know your wishes.

When preparing returns, we use a first in-first out procedure. We try to get as many returns completed as possible. For those clients whose returns have not been completed, be assured, we are working as hard as we can to get them completed. If we are unable to complete them, we will prepare an extension. Any federal tax balance due will not be payable until July 15, 2020. We are waiting to hear if states and cities will make the same adjustments to payment due dates. If not, we will provide you with vouchers to pay balances due on April 15th.

Because extensions also take preparation time, we usually start working on them a few days before the 15th. Some of you have not extended your returns in the past. For those unfamiliar with the process, we are enclosing a fact sheet that explains the extension form and process. We will try to avoid filing an extension for you, but we may not have a choice. Please call our office if you have any questions about the extension process.

All of us have remained healthy during this ordeal. Your prayers and good wishes have been appreciated. We thank you for your patience and understanding with our circumstances.

Sincerely,

The Team at Jamison and Associates CPAs

03/17/2020

To our clients & friends,

Our office remains open daily to serve you. If you have supplied our office with your tax information, we will contact you when your returns are complete. You are welcome to come to our office to pickup your package, sign, etc but if you’d prefer to stay home we have the ability to obtain your signatures electronically and can mail/ship/courier any returns that need to be filed on paper.

If you have yet to provide us with your tax documents and cannot or do not wish to make a physical trip, you can send us documents via mail, fax, scanned email, or we can send you a link to our secure Sharefile portal.

Please call our office or email cpaoffice@jamison cpa.com with any questions.

Lastly, we will let you know of any extensions granted by the federal or state governments for tax filings and/or payments.

Wishing you safety and good health in these challenging times.

The team at Jamison & Associates CPA’s

02/04/2020

Strong stock market gains over the last several years have boosted 401k balances. Most Americans though are under-prepared for retirement and the SECURE Act is now requiring 401k plan sponsors to provide estimates of monthly retirement benefits on account statements (similar to a Social Security statement).

This one number will help you more accurately plan for retirement — thanks to the Secure Act.

01/31/2020

The short version to this article is most taxpayers receive their refunds (if they're lucky enough to be receiving one) within 3 weeks. A small number of returns require extra processing and have longer refund cycles. After your return has been transmitted, wait a week or so and check IRS.GOV and the "Where's my Refund" tool for personalized information.

https://www.cpapracticeadvisor.com/tax-compliance/news/21123615/2020-irs-refund-date-chart-when-will-you-get-your-income-tax-refund

This chart shows an estimated date for when a taxpayer is likely to receive their refund, based on the information we have now, and using projections based on previous years. If your IRS income tax refund is delayed, ...

01/29/2020

Part of the recently enacted “SECURE” Act reinstated some tax deductions and credits retroactively to 2018. We’ll be taking a look at 2018 returns to see if amending would be beneficial for our clients.

You may have to amend your 2018 return to fully cash in.