Frequently Asked ?'s

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Preparation & Filing

Personal Information for each family member

For your tax appointment , you should bring these items below:

Name
Date of Birth
Social Security Card /ITIN/ATIN
Last Year’s Tax Return
Valid Driver’s License

Income & Tax Information

For your tax appointment , you should bring these items below:

W-2’s
Interest (1099-INT or substitute)
Dividend Slips (1099-DIV or substitute)
Stock Sales (1099-B or Broker Statement)
Self-Employment Income and Expenses
Sale of a Personal Residence
Rental Income and Expenses
Sale of any Business Assets
Gambling or Lottery Winnings (W-2G for some winnings)
State Income Tax Refund (1099-G)
Pension Income (1099-R)
Estimated Taxes Paid
Social Security or Railroad Retirement (SSA-1099 or RRB-1099)
IRA or 401(k) Distribution (1099-R)
Unemployment Compensation (1099-G)
Miscellaneous Income (1099-MISC)

Tax Credits

Child Care Provider/Address and Employer Identification Number (EIN) or Social Security Number (SSN)
Adoption Expenses
Retirement Savings Contributions Credit

Deductions & Ajustments

Medical Expenses
Real Estate or Personal Property Taxes
Mortgage Interest
Charitable Contributions (cash and non-cash)
Employee Business Expenses
Gambling Losses
Moving Expenses
Traditional IRA Contributions
Higher Education Expenses
Educator Expenses
Student Loan Interest

Tax Filing Dates & Penalties

When is the earliest that I can file my taxes?

When you get your W-2, you can have your taxes prepared right away, but the IRS will not accept them before a pre-defined date.

When is the deadline to file my taxes?

The standing deadline for personal taxes is April 15.

Is there a penalty for filing my taxes after the deadline?

Yes, you can opt to pay your tax liability through an installment plan. In addition to paying taxes through an installment payment plan, there may be other options such as the Offer in Compromise (OIC). Under an OIC agreement, the IRS may agree to settle the taxpayer’s liability for less than the full amount of taxes owed. The IRS is not likely to approve an OIC if there’s evidence that the taxpayer could pay the full amount through an installment payment plan or another method. A taxpayer can request consideration for an OIC by filling out Form 656, Offer in Compromise, or Form 656L, Offer in Compromise (Doubt as to Liability), and mail the application package to the IRS.

Needed documents from different sources

What documents should I receive from my employer?

The forms to prove employment may vary depending on individual situations. For most, an employer will provide a W-2 form. The self-employed (i.e. independent contractors, product sales representatives such as Mary Kay, etc.) should receive a 1099-MISC from the company.

What documents do I need if I am unemployed?

If you received unemployment benefits from your state over the past year, you must claim that as income and, therefore, pay taxes on those benefits. The unemployment agency should provide you with a 1099-G form, which explains the amount of benefits you drew during the past year. The Internal Revenue Service (IRS) receives a copy as well and will tax you at the appropriate rate in your tax bracket. Not everyone owes. If you worked a portion of the past year, chances are you paid payroll taxes and may earn a refund if those deductions were overpaid.

What documents do I need if I am self-employed?

You will need to file a Schedule C using IRS Form 1040. Depending on your type of business and where you conduct business, there may be other forms you will need. You may also need to make quarterly estimated payments by filing Form 1040-ES, Estimated Tax for Individuals.

What documents do I need if I am divorced? Taking necessary steps before tax time will make things easier once you file your taxes for the first time after a divorce. Change your W-4 through your employer so taxes will be withheld at the correct rates. Also, if you (or a family member) changed your name, file Form SS-5 with the Social Security Administration to ensure there aren’t any complications with the IRS.

What documents do I need if I have a mortgage?

Your mortgage company should send you Form 1098 which reports the mortgage interest you paid.

Reporting Income

Do I have to pay taxes on money that was gifted to me?

No. The federal tax laws do not consider gifted money to be earned income therefore it is not taxable to you. No state has a tax law on gifted money either.

Am I taxed on money that I inherit from a loved one?

Generally, property received as an inheritance is not included in your income. However, if property you receive this way later produces income such as interest, dividends, or rents, the income is taxable to you.

Do I need to report work-study income if I am a full-time student?

Yes, any money which you received as a result of work is taxable income and must be reported on your tax return. Attach your W-2 showing your earnings and your taxes withheld to your tax return.

If I forgot to report a second income on my taxes, how can I report it now?

Since it is not a small change (missing form or math miscalculation), missed income probably requires that you file an amendment. You’ll need to file Form 1040X, Amended U.S. Individual Income Tax Return, on paper; no e-filing here. Additionally, if any changes you are making need forms or schedules attached, make sure you do so.

Don’t panic, you have three years since the date of filing or two years from paying (whichever is later) to correct the issue. But note, if your amended return claims more refund money, go ahead and cash your original refund check – no need to wait the average 12 weeks it takes to process your amended return. However, if your amended return shows you owe, you’ll want to lower fees and interest by paying those taxes as fast as you can. You can then track the status of your amended tax return(s) with the IRS’s ‘Where’s My Amended Return’ tool. Check the IRS’s site about three weeks after you’ve mailed your amended return or call 866-464-2050. If you are uncertain about needing to amend a tax return, don’t hesitate to contact Certified Tax Service®

Bankruptcy

How are my taxes impacted if I have filed bankruptcy?

Depending on which Chapter you filed for, taxes may not be exempt. With Chapter 7 bankruptcy, federal taxes are exempt from discharge. When filing Chapter 13 bankruptcy, it is very important to file and pay your taxes during the bankruptcy proceedings because the court can dismiss your claim if you fail to meet this requirement. Dismissing the claim leaves you responsible for all of your debts. For further tax information on bankruptcy, read the IRS Publication 908 (10/2012), Bankruptcy Tax Guide.

E-Filing & Where's My Refund

Why should I file my taxes electronically?

The main reason for filing taxes electronically (e-filing) is to get your refund faster. Twenty-four hours after sending your tax return, the IRS will send you a confirmation of receipt or a rejection notice. Generally, e-filing is safer and faster than filing on paper.

How can I check the status of my refund?

The 'Where’s My Refund' tool on the IRS website provides the most up-to-date information regarding the status of your refund. This tool is updated every 24 hours.

WHY CERTIFIED TAX

Because we are the BEST at what we do!

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