Married couples typically have two options when it comes to filing status: 1) Married Filing Jointly or 2) Married Filing Separately. Many times, CPA firms solely specializing in tax [...]
During your consultation, you will be interviewed by a qualified tax professional. The purpose of this interview is to discuss the details of your tax issues and to explain your options for resolution with the IRS. Our professionals will ask you various questions to determine your appropriate taxable income and whether you are eligible for deductions and tax credits. Individual solutions vary based on the circumstances, including your ability to provide us with the detailed accurate information regarding your tax case. After we answer any questions you have, we will finalize and e-file the return once we receive your signed authorization via fax, email, or USPS.
If you are feeling overwhelmed about preparing your taxes… rest assured our team of professionals are here to help. Your 1040 tax return is due by mid-April of the tax filing year. However, if you file an extension, your tax return is due by October 15th of the same year. It is very important that your tax return is submitted on time since the IRS imposes a 5% late filing penalty, on the tax due, for each month up to 5 months that you are late.
Tax-filing extensions are available to taxpayers who need more time to finish their returns. Remember, this is an extension of time to file, not an extension of time to pay. However, taxpayers who are having trouble paying what they owe may qualify for payment plans and other relief. Either way, taxpayers may avoid stiff penalties if they file either a regular income tax return or a request for a tax-filing extension by this year’s April 15 deadline. The IRS recommends that taxpayers file, even if they cannot pay the full amount due. Our consultants can assist you with the process of filing an extension and review the penalties with you when needed.