Have you thought about using direct deposit for your tax refund? Here are some benefits to consider. First it makes receiving your tax refund much quicker. The refund is the most efficiently received when you electronically file and select direct deposit. Second it is secure, the funds go directly to the account you specify and there is no chance of it getting lost in the mail. It is easy to provide your preparer with the bank information and then double check to make sure the bottom of the … [Read more...]
What to do if You Receive a Tax Notice
When I have an initial meeting with clients I try to stress what to do if you receive a tax notice. Many times I will receive the tax information to prepare a return and a tax notice will be included that was either never addressed or was just paid. While the IRS website does give some guidance on what to do with a notice at https://www.irs.gov/Individuals/Understanding-Your-IRS-Notice-or-Letter; I always recommend you send them as soon as you get them to your tax professional. In my case I … [Read more...]
Extended Tax Deadline
The extended tax deadline for individuals is quickly approaching. The deadline is October 15. I thought this would be a good time to remind you (if you have not filed yet) items that you will need in order to have your tax return prepared. I typically run into clients missing the easy items at this point. Some of my clients get so involved in working to get their business or rental information together that they forget to include all or part of the tax forms they were sent in January. These … [Read more...]
Is your tax return information safe?
Each day we hear something about identity theft, a new scheme or another company hacked. So the question becomes "Is your tax return information safe?" The IRS recently published a scheme that allowed criminals to access 104,000 tax return transcripts. This was done by collecting personal information about the individual from other sources then using it to gain tax information. According to the IRS, the items needed to verify identity are social security number, date of birth, address, filing … [Read more...]
