NEWS AND UPDATES

Hello everyone--looking forward to seeing you again this year!  The IRS will start accepting electronic returns on the 27th of January.  We will start preparing returns on January the 13th, but the transmission won't happen until the 27th.  Most of the tax laws have not changed from last year. There is an increase in the standard deduction: Single and married filing separate is $14,600 Head of Household is $21,900 and Married is $29,200. The business deduction for vehicle mileage is up to $0.67 cents per mile.

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FARMING AND OKLAHOMA TAX

Throughout the years, The federal government has had little interest in auditing farms. As a matter of fact, we have never had one audited. However, this year Oklahoma has audited two farms. It was fine, but we want to just remind everyone who has a farm to keep up with their receipts. We don't need the receipts in the office, just totals as always, but it important to keep them.

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IF YOU ARE FILING WITH DEPENDENTS:

• Make sure you only claim your child, grandchild, brother/sister, niece/nephew.

• Step children can only be claimed if the proper parent is a co-filer on your return

• Make sure you only claim dependents who have lived with you for at least 183 days this year.

• If someone else claims food stamps for your dependent, that will create a problem.

• If they are school age, make sure the school shows you as the responsible parent.

• Make sure you have at least one utility bill, rent receipt/mtg payment at your residence in your name.

• Make sure we file the same address on your return as the receipts show.

• Make sure you have adequate documentation saved that proves your relationship to the dependent.

 

SELF EMPLOYMENT/1099 EARNERS:

• As mentioned earlier, make sure you claim all your income. This should at least equal bank deposits.

• Add up your expense receipts and mileage. (keep documentation at your home, we only need totals)

• If you receive a 1099, remind the giver they need to turn in their part by January 31st.

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REASONS REFUNDS CAN BE DELAYED:

• Recently, the IRS has been randomly verifying identities. This slows things down.

• You file a w2 or 1099 and your employer or contractor doesn't turn their part in on time. January 31st.

• Someone else is claiming your dependents on their return

• Someone else has been getting food stamps for your dependents

 

FEEL FREE TO USE DROP BOX OR LEAVE AT THE FIRST DESK

Some days are busy and you are in a hurry. We understand that you don't enjoy sitting around waiting.

Sometimes you may just need to get somewhere fast. It's never a problem for you to drop off. You can drop your info in the locked black box by the front door, or leave with Brandi.  We appreciate you!!

 

DROP IN AND APPOINTMENT DATES:

January through February are drop in days. March 1st through December 31st are appointment days. This time frame allows for you to come in with no waiting. If you can wait, we recommend setting an appointment, but you are welcome to choose either time you wish.

 

FEES THIS YEAR

This will Our fees have stayed the same for the third year now. We work hard to be the least expensive tax service in the area.