Archive for the ‘ Tax Season ’ Category

New Documentation Requirements

Posted on: January 8, 2019 by in Tax Season
No Comments

With the Tax Cut and Jobs Act (TCJA aka Trump Tax Reform), there were a lot of changes to tax regulations. The one that will impact the most people is the new documentation requirements for dependents and filing status. Essentially, you will need to be able to prove that your dependents live in your household during the year. Under the old rules this was restricted to just certain cases, but now it is a requirement for pretty much everyone that has dependents. So for each Continue Reading ...

Your Taxes and the 2019 Government Shutdown

Posted on: January 8, 2019 by in Tax Season
No Comments

As you have no doubt seen in the news, the Federal Government is currently shut down. That includes the IRS. There have been several statements by different agencies over the last few days regarding whether refunds will be processed in a timely manner or not. Currently, they are claiming that we will be able to start electronically filing on Jan 28 and that refunds will not be delayed. We will have to wait and see how the situation Continue Reading ...

W-2s and Verification Codes

Posted on: July 28, 2017 by in Tax Season
No Comments

When Mark and I went to the IRS Forum to hear the updates from the IRS this year we learned that the W-2 Verification Program is being enlarged and enforced starting with the Tax Year 2017 filing season. Roughly 1 in 3 W-2s issued for Tax Year 2017 is going to have a 16-character verification code in Box 9. These codes are an effort on the part of the IRS to make sure people do not file fake W-2s in order to fraudulently claim tax credits. What does this mean for you? It means that we Continue Reading ...

Important Announcement for Filing Season

Posted on: November 22, 2016 by in Tax Season
No Comments

In December of 2015, Congress passed a law called the Protecting Americans from Tax Hikes Act of 2015. This law made a lot of things that Congress had to renew each year permanent. That made our lives as tax preparers a lot easier. What was overlooked by many was a small change on page 94 of the bill. This change in Section 201(b) of the bill states: EARLIEST DATE FOR CERTAIN REFUNDS.—No credit or refund of an overpayment for a taxable year shall be made to a taxpayer before the 15th Continue Reading ...