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#irs tax preparer
bumblebeebats · 1 year
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The IRS LOOOVE to ask me questions like
Have you ever:
never not received dividends of a divisionary nature through the operation of a state or federal corporal mutual fund, and paid pecuniary expenses related to Article 805A(b).e, or
been gifted more than $2,000,000 cash or the equivalent in yachts or racing horses from a foreign monarch, and
not been actively involved in assessing fewer than two digital assets prior to 2021, or not more that two non-relational nontaxable assets after Jun 7th, 2022 (see Schedule 8, box 17a)
☐ Yes ☐ No ☐ Other
#& before anyone tries to recommend me some nice simple online tax preparation thing; srry but i am legally not allowed to#bc I'm a dual citizen living abroad 🙃 So I have to pay an accountant $500/year to fill it out for me instead#Hey Americans! Did u know if you ever permanently move abroad you actually still have to file US tax returns for the rest of your life?#And report the balances of all your bank accounts to the US government? With potential fines of tens of thousands of dollars#PER year PER form that you don't fill out?#Fun fact: this also applies in many many cases if you were born abroad to a US parent and have never even been to the US!!!#Fun fact: the US government doesn't tell you this! There are thousands of people all over the world#who are considered tax evaders by the US and stand to be immediately arrested or fined the minute they set foot on US soil!!!#Most of this is hardly ever enforced ofc bc the IRS simply doesn't have the manpower to do so#but it's a handy little sword of Damocles hanging over the head of every US citizen all over the world#so that if anyone ever steps out of line - whoopsieee! looks like you haven't been filing your FBARs huh?#Would be a pity if you were extradited and arrested for tax evasion :)#One more fun fact: apart from the US the only other country to require lifelong taxation and tax filing from its citizens abroad is Eritrea#a totalitarian dictatorship with one of the worst human rights records in the world#But thank god the America is such a paragon of freedom and democracy <3 🙃🙃🙃
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jcincometaxservice · 1 year
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unisonglobususa · 7 days
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Stay Ahead of IRS Rejections: Expert Advice for Tax Professional How to File Your Taxes Complete Guideline?
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For tax professionals, an IRS rejection notice can trigger a sense of urgency and concern. However, most rejections stem from minor errors that can be corrected quickly and efficiently. Understanding why these rejections happen and how to address them is key to minimizing disruptions for your clients and ensuring seamless tax filing processes.
In this article, we’ll explore the common reasons behind IRS rejections and provide actionable steps to resolve them—ensuring you stay ahead of any issues and deliver a smooth, stress-free tax season for your clients.
What Does an IRS Rejection Mean?
An IRS rejection occurs when an error is detected in the federal income tax return. Instead of processing the return, the IRS sends it back, requesting corrections before it can be accepted. Fortunately, most of these issues can be resolved with timely adjustments.
How Will You Be Notified?
If you e-filed, you’ll receive an email notification with the rejection details, including a specific code and a reason for the rejection. Paper filers, on the other hand, are notified through traditional mail. Be cautious of fraudulent notifications—always confirm that the correspondence is directly from the IRS. The agency rarely initiates contact via phone calls without prior written communication.
Common Reasons for IRS Rejection
While there are numerous reasons for a rejected return, the most frequent causes include:
Inaccurate or Missing Information Simple errors, like misspelled names or incorrect Social Security numbers (SSNs), can trigger rejections. Additionally, ensure all details match what the IRS has on file—particularly after events like a name change due to marriage.
Duplicate Filing If the IRS already accepted a return associated with your client's SSN or Taxpayer Identification Number (TIN), this could signal an issue, including possible identity theft.
Duplicate Dependent Claims Divorced or separated parents might run into this issue if both attempt to claim the same dependent. Similarly, if the dependent has filed their own return and claimed themselves, your client's return will be rejected.
Mismatch in Electronic Signature When e-filing, the IRS requires verification using the prior year's Adjusted Gross Income (AGI) or an Identity Protection PIN (IP PIN). If these figures don’t match, the return will be automatically rejected.
What To Do After a Rejection
Upon receiving a rejection, it’s essential to act quickly. In most cases, the error can be easily corrected, and the return resubmitted electronically. However, more significant issues, such as identity theft, may require filing a paper return or contacting the IRS directly.
Correcting the Error
To resolve a rejected return, identify the specific error from the rejection code. Common mistakes—like incorrect AGI, typos, or duplicate dependent claims—can typically be fixed online through the e-filing system. For identity theft cases, Form 14039 (Identity Theft Affidavit) will need to be submitted by mail.
Deadline for Filing Corrections
If the IRS rejects a return before the April 15 tax deadline, the client must resubmit the corrected return before that date to avoid penalties. If the rejection happens on or after the deadline, the IRS allows an additional five days to correct and refile. State tax deadlines may vary, so check local guidelines to ensure compliance.
Preventing IRS Rejections
Preventing IRS rejections requires diligence. Here are steps to minimize the risk:
Double-check Information: Ensure that all personal details, including SSNs, EINs, and electronic signatures, are correct. Mismatched numbers are one of the most common causes of rejection.
File Early: Encourage clients to submit returns early, reducing the risk of fraudulent filings by identity thieves.
Verify Dependent Claims: Ensure no dependent is claimed on more than one return. Clear communication with clients about dependents can help avoid this mistake.
Handling Identity Theft
If identity theft is suspected, act swiftly. Contact the IRS immediately and follow up with Form 14039 to report the issue. Your client’s tax refund may be delayed, but timely action can prevent further complications.
Proactive Steps for a Smooth Tax Season
For tax professionals, a key strategy for staying ahead of IRS rejections is adopting a proactive mindset. By maintaining rigorous client records, verifying all information, and encouraging early filings, you can avoid unnecessary delays and protect your clients from fraudulent activities.
At Unison Globus, we understand the importance of accuracy and timely responses in tax preparation. With our team of experts in Accounting, Taxation, and Outsourcing, we support CPAs, EAs, and accounting firms with the tools and expertise needed to navigate even the most complex tax situations.
Disclaimer: This article is intended for informational purposes only. It should not be considered legal, financial, or professional tax advice. Always consult with a qualified tax professional or legal advisor for guidance specific to your situation.
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jamesvince9898 · 16 days
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Comprehensive Tax Services in Corpus Christi: Your Trusted CPA for IRS Relief, Financial Planning, and More
Introduction:
Managing your taxes efficiently is vital to maintaining financial health, both personally and for your business. Whether you're dealing with unfiled tax returns or looking for professional help with financial planning, finding the right Certified Public Accountant (CPA) can make all the difference. Hopkins CPA Firm, located in Corpus Christi, Texas, is your go-to partner for a range of financial services. With expertise in tax preparation, IRS Offer in Compromise, tax resolution, and more, our firm is dedicated to providing solutions that ease the burden of tax complexities.
This article delves into the core services offered by Hopkins CPA Firm, covering tax resolution services, IRS representation, and financial planning. Whether you're in Corpus Christi, Austin, Dallas, or anywhere in Texas, our experienced CPAs are equipped to help you tackle IRS problems, prepare your taxes, and plan for a secure financial future.
The Importance of a Local CPA in Corpus Christi
Corpus Christi has a unique blend of industries, including oil and gas, tourism, and agriculture, all of which have specific tax requirements. Having a CPA who understands these local nuances can make a big difference in how your taxes are handled. At Hopkins CPA Firm, we are deeply familiar with the tax laws and regulations that affect businesses and individuals in this area. From helping with unfiled tax returns to negotiating with the IRS, our team provides the personalized service that you need.
Local knowledge matters, especially when dealing with the IRS. Whether you are in Corpus Christi or another city like Austin or Dallas, understanding state and federal tax laws is essential. That’s why our team specializes in handling complex tax issues, whether for businesses or individuals, ensuring compliance and minimizing liabilities.
Unfiled Tax Returns Help: Get Back on Track
One of the most stressful issues taxpayers face is unfiled tax returns. The IRS takes this very seriously, and failure to file can result in severe penalties, wage garnishments, or even legal consequences. At Hopkins CPA Firm, we specialize in helping individuals and businesses who have fallen behind on their tax filings. Our team will work diligently to ensure all necessary paperwork is completed and filed, helping you avoid costly penalties.
Our firm not only assists in catching up on unfiled tax returns but also provides advice on how to stay compliant moving forward. We take a personalized approach, understanding your financial situation and offering solutions that fit your specific needs.
IRS Offer in Compromise: A Lifeline for Taxpayers
If you owe a significant amount of back taxes and are unable to pay the full amount, you may be eligible for an IRS Offer in Compromise (OIC). An OIC allows you to settle your tax debt for less than what you owe, provided you meet certain conditions. Hopkins CPA Firm has extensive experience in negotiating Offers in Compromise with the IRS, and we can guide you through the entire process.
Navigating the Offer in Compromise program can be complex. It requires a thorough understanding of your financial situation and the IRS's strict criteria. Our experienced CPAs will assess your eligibility, prepare the necessary paperwork, and negotiate with the IRS on your behalf. Our goal is to help you reduce your tax burden and give you a fresh start.
Tax Preparation for Individuals and Businesses
Tax preparation is not a one-size-fits-all process. Whether you’re an individual or a business owner, your tax situation is unique. Hopkins CPA Firm offers comprehensive tax preparation services tailored to meet your specific needs. We handle everything from basic tax returns to complex corporate filings, ensuring that every deduction and credit is claimed.
Our team stays updated on the latest tax laws to ensure compliance while maximizing your refund or minimizing your tax liability. By using a professional CPA firm like ours, you can be confident that your taxes are being prepared accurately and efficiently.
CPA Services in Austin and Dallas, Texas
Although our main office is located in Corpus Christi, we proudly extend our services to individuals and businesses in Austin and Dallas. These cities are home to growing industries and dynamic economies, each with its own unique tax challenges. Whether you are a tech entrepreneur in Austin or a corporate executive in Dallas, Hopkins CPA Firm is here to help you navigate the tax landscape.
Our CPAs understand the specific tax laws that affect businesses and individuals in Austin and Dallas. We offer the same level of personalized service to clients in these cities as we do in Corpus Christi, ensuring that your taxes are managed with the utmost care.
Financial Planning: Preparing for the Future
Financial planning is an essential aspect of managing both your personal and business finances. At Hopkins CPA Firm, we offer more than just tax services; we provide comprehensive financial planning solutions to help you achieve your long-term goals. Whether you are planning for retirement, saving for a child’s education, or managing your business's financial growth, our team has the expertise to guide you every step of the way.
Our financial planning services are tailored to your unique circumstances, helping you create a roadmap for your financial future. We offer investment advice, retirement planning, estate planning, and more, ensuring that your financial health is in good hands.
IRS Help: Resolving Tax Issues
Facing the IRS can be intimidating, especially if you owe back taxes or are dealing with penalties. At Hopkins CPA Firm, we provide professional IRS representation to help you resolve these issues. Whether you are facing wage garnishments, tax liens, or audits, our team has the experience to represent you effectively.
Our IRS resolution services include negotiating payment plans, requesting penalty abatement, and filing appeals when necessary. We work closely with the IRS to ensure that your tax issues are resolved in a timely and favorable manner.
Conclusion:
When it comes to managing your taxes and financial future, the right CPA can make all the difference. Hopkins CPA Firm in Corpus Christi is committed to providing comprehensive tax services, from unfiled tax return assistance to IRS Offer in Compromise, tax preparation, and financial planning. Whether you’re in Corpus Christi, Austin, or Dallas, our experienced team is ready to help you navigate the complexities of tax law and achieve financial success.
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advantagecpa · 28 days
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You may maximize your company's probability by utilizing the several services that Advantage CPA supplies. From tactical financial design to correct tax composing, our skilled staff offers express solutions to maximize your business's performance and ensure consent. Survey our vast array of services planned to boost your income, ease your growth, and graceful your accounting work. Join us to proceed with your business with acute guidance and unusual experience. See how Advantage CPA can help you prosper right now!
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Is your tax plan aligned with your goals? Or Are you seeking clarity on tax obligations? You Need expert guidance on tax planning. Get in touch with us. For more info visit www.syriaccpa.com
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lukesmithinsights · 3 months
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Is your business facing a tax audit? Learn how to prepare effectively and handle the process with confidence with this helpful guide!
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saicpaservices · 5 months
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Financial Peace of Mind: IRS Problems & Representations Services
Dealing with IRS issues can be stressful and time-consuming. At SAI CPA Services, our IRS problems & representations services are designed to provide you with peace of mind.
Our experienced team will represent you in front of the IRS, handling audits, tax disputes, and other issues with expertise and professionalism. We work tirelessly to resolve your IRS problems efficiently, allowing you to focus on your business and personal life.
With SAI CPA Services, you can face IRS challenges with confidence. Contact us today to learn more about our IRS problems & representations services and regain control of your financial future.
Stay tuned for more insights into our comprehensive range of accounting and financial services, designed to support your financial well-being.
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Connect Us:  https://www.saicpaservices.com/contact-us/ https://www.facebook.com/AjayKCPA https://www.instagram.com/sai_cpa_services/ https://twitter.com/SaiCPA https://www.linkedin.com/in/saicpaservices/ https://whatsapp.com/channel/0029Va9qWRI60eBg1dRfEa1I
908-380-6876
1 Auer Ct, 2nd Floor 
East Brunswick, NJ 08816
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bookkeeperlive12 · 5 months
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enrolledagent12 · 7 months
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Expert Tax Assistance: The Role of Enrolled Agents
Seeking professional tax help? Consider an Enrolled Agent (EA) for your tax needs. EAs, certified by the IRS, specialize in tax preparation, representation, and advisory services. With in-depth knowledge of tax laws, EAs handle various tax matters, from complex filings to audits and appeals. Unlike other preparers, EAs can represent taxpayers before the IRS, offering expert guidance and advocacy. Whether you're an individual or a business owner, an Enrolled Agent provides personalized solutions to navigate tax complexities and ensure compliance. Trust an Enrolled Agent for reliable tax assistance tailored to your needs.
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supersteincpa · 6 months
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Superstein PA is a full‐service accounting firm specializing in complex finances, tax, accounting, and audit and assurance services for businesses, not‐for‐profit entities, and individuals. We’re based in South Florida and also operate out of South Carolina. Although we have offices in these two states, we proudly serve clients throughout the U.S. and abroad.
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Our mission is to simplify complicated finances, so our clients understand their options. We’re hard‐working, fair, and always willing to put in an honest day’s work to deliver excellence. You’ll be backed by a team of experienced managers, supervisors, seniors, and staff professionals—all of whom have distinguished education and backgrounds. With Superstein PA, you’ll see an immediate impact on the profitability and growth of your company. We’re a firm known for providing exceptional service and for going the extra mile for our clients, and we invite you to learn more about our team members.
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3830 Hollywood Blvd, Suite 101 Hollywood, FL 33021
(954) 602-9100
supersteincpa.com - IRS Representation
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hotspotcitynet · 6 months
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IRS Tax Extension For 2024
Determining Whether You’re In Need Of An IRS Tax Extension For 2024 Early On. It is sometimes necessary extend your tax preparation especially if you need more time to file. The IRS tax extension deadline for US filers is October 15. This means that you will need to file Form 4868 to initiate the extension process. If you need help with filing an extension on your taxes this year, Howard Dagley,…
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xtruss · 6 months
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Tax Prep Checklist 2024: What Do You Need to File Taxes?
— Aly A. Yale | Reviewed By Robert Thorpe | February 06, 2024 | Newsweek
Tax season is quickly approaching, and whether you file your returns yourself or enlist a professional for help, having the proper documents on hand will be necessary. These documents ensure a quick and accurate filing, which can lead to a faster tax refund for some. Want to make sure your tax filing goes off without a hitch? Use this tax prep checklist to guide the way.
Vault’s Viewpoint
There are five categories of documents you’ll need as you file your tax returns: personal information, income, deductions, credits and payments.
You’ll need information for you, your spouse (if filing your returns together) and your dependents.
Banks, lenders and your employer send many documents to you automatically, but there are some you may need to pull yourself.
Personal Information
The first set of documents you’ll need detail personal information for you, your spouse (if married and filing your returns together) and your children or other dependents.
Social Security Cards For You, Your Spouse and Your Dependents
The Internal Revenue Service (IRS) needs a way to identify you as a unique taxpayer, and for most people, this requires a Social Security number (SSN). You’ll also need your spouse’s SSN if filing your returns jointly, the SSNs for any dependents you have and the SSN of the paying party if you receive alimony or child support payments.
If you file your returns as a business owner, are a nonresident or resident alien or a paid tax preparer, you’ll likely use a unique tax identification number instead. You can apply for these directly through the IRS.
Bank Account Numbers
You’ll need to put in your bank account’s routing and account numbers when filing your return. This will allow the IRS to directly deposit your refund once it’s been processed. You can find these numbers in several places, such as on your bank statements, online after logging into your account at your bank or at the bottom of a check linked to your account (The first number listed is your bank’s routing number; the second is your account number.)
A Copy of Your Last Tax Return
This isn’t required, but it can be helpful to have past returns on hand as you file your new one. It can be a quick way to look up information, and it may also remind you of what deductions and credits you’re eligible for. You may also be able to use the return to auto-populate your tax return information if you’re using online tax software.
Form 8332 if You Share Custody of a Child
If you share custody of a child and are planning to claim them as a dependent on your taxes, you’ll need Form 8332, as it proves the other custodial parent has released their right to claim the child as a dependent.
Income
You’ll need to show your sources of income on your tax returns. This can include full- or part-time employment, freelance work, unemployment earnings or alimony payments. Many of these documents will be mailed to you or delivered electronically by the government, your employer or clients, or your bank by the end of January. Some documents, though, you may need to produce yourself.
W-2s
A W-2—or Wage and Tax Statement—is a form you’ll get from your employer annually. It details how much income you earned, the taxes they withheld from your paychecks, details about your benefits and more.
Form 1099-NEC or 1099-MISC
If you’re self-employed or earned income from side gigs, contracting work, freelancing or other jobs that don’t come with a W-2, you should get a 1099-NEC or 1099-MISC form that details how much you earned from each client every year. Clients don’t have to report payments under $600 to the IRS, though. So if you only earned a small amount from one, you may have to rely on bank statements to report these earnings accurately.
Form 1099-R or SSA-1099
If you received Social Security benefits or distributions from pensions or retirement accounts, you should get a 1099-R or SSA-1099, also called a benefit statement, detailing how much you earned in any given year. You can also pull your SSA-1099 at SSA.gov.
Proof of Alimony or Child Support Received
If you received alimony or child support payments from a former spouse or other party during the year, you will need to report these payments as income on your tax return. You’ll need the total amount you received, as well as the payer’s SSN or tax ID number.
Profit and Loss Statements
Business owners need a profit and loss statement, which details business expenses and revenue across the year. You can typically get this from your accountant or bookkeeper, or you can create one yourself by gathering details about your operating costs, overhead expenses, earnings and profits.
1099-G
If you received unemployment income in the tax year you’re filing for, you should get a 1099-G form detailing how much you were paid. You also may get a 1099-G if you receive any state or local income tax refunds.
1099-INT, 1099-DIV or 1099-B
Taxpayers who receive interest payments on savings, investment, checking or other types of financial accounts will receive a 1099-INT. This form reports the full amount of interest earned across the year. This is considered taxable income on your returns.
If you earned money from dividends or distributions from any investments, you will also get a 1099-DIV. And if you sold any capital assets, like stocks, bonds or other securities, you’ll receive a 1099-B. This will detail your gains and losses on those assets, which could result in additional tax liabilities.
1099-S
If you sold real estate in the last year, you may receive a 1099-S, which details the closing date and the proceeds of the sale.
1099-Q
Taxpayers who receive money from a 529 education plan or Coverdell education savings account (ESA) will need a 1099-Q. This form shows your total distributions, their base costs and the earnings you received on your initial investment.
1099-SA
If you received distributions from a Health Savings Account, Medicare Medical Savings Account or Archer Medical Savings Account at any point in the year, you’ll get a 1099-SA form. You will need to report these distributions on your return, though they’re only taxable if you fail to use the funds on qualified medical expenses or you exceed the annual HSA contribution limit.
Records of Cryptocurrency Transactions
If you bought or sold cryptocurrency at any point in the year, you’ll need records of these transactions, as you’ll need to report them on your annual returns. They may also result in capital gains taxes.
Proof of Any Other Income
There are many other forms of income you may have received throughout the year, and you’ll need to report all of it. This can include income earned from royalties, prizes, awards and gambling earnings.
Deductions
Deductions allow you to reduce your taxable income and therefore your total tax liability. To take advantage of these, though, you’ll need documentation to prove that you incurred the eligible expense, as well as how much it cost you.
Here are some of the documents you may need to maximize your tax deductions.
Health Insurance Costs
If you’re self-employed and must cover the costs of health insurance without the help of an employer, you can typically deduct the entirety of your premiums each year. If you have a marketplace plan, you’ll receive a Form 1095-A that will detail how much you spent on premiums. If you have a private plan, you’ll need to see your plan documents for the total premium cost.
Business Expenses
If you’re self-employed, own a business or work from home, you may be able to write off certain business and home office expenses. You’ll need receipts for any purchased items and a record of the mileage you’ve driven for your business.
If you have a home office, you should also have copies of any bills for utilities, electricity, rent or mortgage and other costs associated with the overall property. While you can’t deduct all of these, you may be able to write off a portion of them, depending on how much of your overall property your home office takes up.
A quick note for educators: You can also write off the costs of classroom expenses and supplies. You’ll need receipts for these purchases and are limited to up to $300 in deductions.
Form 5498
Contributions to many types of retirement accounts are tax-deductible. Your account administrator should send you a Form 5498 detailing your total contributions, as well as any rollovers from the previous year. Keep in mind there are limits to how much of your contributions you can deduct depending on the type of account.
Charitable Donations
Many charitable donations qualify as a write-off. For example, if you donate clothing or furniture to a local shelter, you can often deduct the total value of those items from your taxable income. Just make sure you donate to a qualifying tax-exempt organization and get an itemized receipt for each donation.
Medical and Dental Expenses
If you incur a significant amount of medical or dental expenses across the year and exceed 7.5 percent of your total adjusted gross income, you may qualify for a write-off. To calculate how much you’ve spent in a year, contact your doctors, dentists and any medical professionals you’ve seen and ask for an account statement. You can also check with your insurance company to see what your out-of-pocket spending was for the year.
Form 1098-E
If you, your spouse or a dependent has a student loan and you paid interest on it, you can deduct that total amount from your taxable income up to $2,500 annually. You should get a 1098-E in the mail from your student loan servicer, which will detail how much interest you paid for the year.
Form 1098
In the event you bought a house or refinanced in the last year, you likely paid mortgage loan interest and qualify for a deduction. Your mortgage lender should send you a Form 1098 that breaks down how much you paid in interest, mortgage insurance and mortgage points.
State and Local Tax Records
Taxpayers can deduct up to $10,000 in state and local taxes (SALT) on their annual returns. These include things like property taxes, sales taxes and state income taxes. Your state tax returns can help here, as can your annual property tax bill.
Credits
Tax credits are similar to deductions, but instead of reducing your taxable income, they’re a dollar-for-dollar reduction on your actual tax bill. See below for the documents you’ll need to take advantage of various tax credits.
Form 1095-A
If you have a marketplace health insurance plan, you may be eligible for a tax credit depending on your income level. You can choose to use this toward your monthly premiums or your total annual tax bill. Either way, you’ll get a 1095-A Health Insurance Marketplace Statement at the end of each year. This will detail your policy data, covered individuals and total premiums, which you can then use to file your returns.
Childcare Provider Details
If you pay for childcare for dependents, you could qualify for a tax credit of up to $3,000. You’ll need to provide your childcare provider’s name, address and SSN or tax identification number. If you don’t have this information, you can request it using a Form W-10.
Adoption Costs
Adopting a child often comes with a tax credit, equal to the amount of the total qualified adoption expenses up to a certain limit. This can include legal fees, adoption agency fees, court costs and other expenses. So you’ll want receipts for any of these services on hand as you file your returns.
Form 1098-T
If you, your spouse or your child is enrolled in a higher education program, you may be eligible for the American Opportunity Credit based on your tuition. You’ll get a 1098-T detailing the total tuition you paid each year and can write off the first $2,500 of it.
Payments
Some taxpayers make payments to the IRS at non-tax season times. If this happens, you’ll need this payment data on hand as you file your returns, as it could impact what you owe and what refund you’re due.
Previous Refunds
You have the option of having your tax refund sent directly to you or having it applied to a future tax bill. If you opted for the second, you’ll want the amount of that applied refund with you as you file your returns. This will reduce the total amount of taxes you owe for the year.
Proof of Estimated Tax Payments
Self-employed professionals, sole proprietors and other types of taxpayers are required to make estimated tax payments quarterly throughout the year. If you’re one of them, you’ll want the payment confirmations from those payments, as well as their total amount. These will help determine if you owe additional taxes or are due a refund.
— Aly J. Yale is a freelance contributor for Newsweek’s personal finance team. She has extensive experience covering real estate, investing, mortgages, and financial news and has been published in Business Insider, Money, Fortune, Buy Side from WSJ, CBS News and US News & World Report, among others. Aly is based in Houston.
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lexingtontaxgroup · 6 months
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Navigating the Maze: How to Handle IRS Letter CP59 with Lexington Tax Group
Received the IRS Letter CP59? Here’s What You Need to Know
Opening your mailbox to find an IRS Letter CP59 can be an intimidating experience. This letter is the IRS's way of informing you that they have no record of your personal tax return for the prior year. Before panic sets in, know that there's a clear path forward, and Lexington Tax Group is here to light the way.
Immediate Steps to Take After Receiving IRS Letter CP59
First and foremost, understanding the message behind Letter CP59 is crucial. It's not just a reminder but a prompt for immediate action to avoid potential penalties or more serious consequences. This is where Lexington Tax Group steps in, offering a comprehensive service specifically designed for CP59 recipients.
Lexington Tax Group’s Comprehensive Approach
Swift Action: Our first order of business is to protect you from immediate collection actions by the IRS. We understand the urgency of the situation and prioritize halting any collections process in its tracks.
Gathering Information: We then proceed to contact the IRS on your behalf. Our team works diligently to obtain all reported income information necessary to address the discrepancies highlighted by the CP59 letter. This step is fundamental in ensuring that we have a complete understanding of your tax situation.
Filing and Compliance: With all the necessary information in hand, we assist you in preparing and filing any missing tax returns. Our goal is to make this process as smooth and straightforward as possible, ensuring your tax records are accurate and up-to-date.
Resolving Tax Debts: For those who find themselves facing tax debts as a result of the filing process, worry not. Lexington Tax Group is well-versed in a myriad of debt resolution strategies. Whether it's arranging a payment plan or exploring hardship programs, we are committed to finding a solution that best fits your financial situation.
Why Choose Lexington Tax Group?
Choosing Lexington Tax Group means opting for peace of mind. Led by CEO Adam Hastie, our team is not only experienced in tax law and IRS procedures but is also empathetic towards the stress and confusion that can accompany IRS notices. Our personalized approach ensures that your case is handled with the attention and urgency it deserves.
Take Action Today
If you’ve received an IRS Letter CP59, now is the time to act. Lexington Tax Group is ready to guide you through the process, from understanding your notice to achieving tax compliance and resolving any ensuing financial matters. Don’t navigate this alone; our experts are here to support you every step of the way.
For more information or to schedule a consultation, contact us at 800-328-8289 or visit our website at www.LexingtonTaxGroup.com. Let us help you turn this challenge into a step toward financial stability and peace of mind.
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alexagabriel1 · 7 months
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Payroll is the process by which a company pays its employees' salaries. The process begins with the preparation of a list with employees who need to be paid, and ends with the recording of expenses. For more details log on http://www.etservicesva.com/
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sequoiatax · 8 months
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Name of the Brand Name: Sequoia Tax Associates, Inc Call us: (669) 293-0593 Address: 1777 Hamilton Ave, Suite 2250. San Jose, CA 95125 Business Mail Id: [email protected] Working Hours: Monday-Friday: 8AM–5PM, Sat-Sunday: Closed Blog URL: https://sequoiatax.com/blog/ LinkedIn: https://www.linkedin.com/in/michael-ball-a08485b Yelp: https://www.yelp.com/biz/sequoia-tax-associates-san-jose-2 BBB URL: https://www.bbb.org/us/co/denver/profile/tax-consultant/sequoia-tax-relief-1296-90253733 Mapquest: https://www.mapquest.com/us/california/sequoia-tax-associates-inc-422516918 Facebook URl: https://www.facebook.com/Sequoia-Tax-110682507238219/
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