Individual and Business Tax Preparation Services Payroll Processing Bookkeeping
You can get your coronavirus relief check faster if you use direct deposit. US residents who qualify for a coronavirus stimulus check of up to $1,200 will begin receiving the payment starting today -- it goes straight into to your bank account reflected on your 2018 or 2019 return filed with the IRS.
For those who don't have an electronic funds transfer in place as part of paying last year's taxes, the IRS now has an online web portal to help you get your stimulus relief payment faster. It's called Get My Payment and the link is provided below.
irs.gov Use Get My Payment to get information about your payment status and payment type.
The IRS launched today a new tool (link provided below) to help people who don’t have a return filing obligation to register for Economic Impact Payments that will be distributed automatically to most people starting next week. Eligible taxpayers who filed tax returns for 2019 or 2018 will receive the payments automatically. Automatic payments will also go in the near future to those receiving Social Security retirement or disability benefits and Railroad Retirement benefits.
freefilefillableforms.com Fillable Forms
After the IRS extended the deadline to pay taxes earlier this week, the Treasury Secretary Mnuchin announced today that tax filing deadline is pushed back as well to July 15 as coronavirus spreads. This gives us three months more than we normally would have to file our income tax returns for the 2019 tax year.
cnbc.com Taxpayers are about to get a three-month reprieve to pay income taxes owed, Treasury Secretary Steven Mnuchin said at a news conference Tuesday.
Wondering when you can file your tax return in 2019?
The IRS has announced that they will begin accepting and processing tax returns for the 2018 tax year on Monday, January 28.
Please call us at 720-515-1661 to schedule your appointment now! We will accept and prepare tax returns before that date and e-file when the tax season officially opens.
The Internal Revenue Service announced today that it is providing taxpayers an additional day to file and pay their taxes following system issues that surfaced early on the April 17 tax deadline. Individuals and businesses with a filing or payment due date of April 17 will now have until midnight on Wednesday, April 18. Taxpayers do not need to do anything to receive this extra time.
The IRS advised taxpayers to continue to file their taxes as normal Tuesday evening, whether electronically or on paper. Automatic six-month extensions are available to taxpayers who need additional time.
The IRS has started accepting and processing 2017 federal individual income tax returns today January 29th.
The filing deadline for 2017 calendar-year S corporation (1120S) and partnership returns (1065) is March 15th, 2018.
The filing deadline for 2017 individual (1040), calendar-year corporation returns (1120), and calendar-year fiduciary, trust and estate returns (1041) is April 17th, 2018.
The PATH Act of 2015 requires the IRS to hold refunds on returns claiming the Earned Income Tax Credit (EITC) and/or the Additional Child Tax Credit (ACTC) until mid-February. The IRS is required to hold the entire refund — even the portion not associated with the EITC and ACTC — until at least mid-February. The IRS cautions that these refunds likely won’t arrive in bank accounts or debit cards until the week of February 27 at the earliest.
MARCH 15 FILING DEADLINE FOR PARTNERSHIPS AND S CORP RETURNS IS QUICKLY APPROACHING! Please call us at 720-515-1661 to schedule your appointment now!
These returns must be filed (e-filed or postmarked) by midnight (local time) on March 15, 2017. Both partnership and S corporation returns are allowed a six month extension.
DO YOU KNOW THAT TAXPAYERS WITH CHILDREN MAY QUALIFY FOR CERTAIN TAX BENEFITS?
Parents should consider the following child-related tax benefits when filing their federal tax return:
• Dependent. Most of the time, taxpayers can claim their child as a dependent. Taxpayers can generally deduct $4,050 for each qualified dependent. If the taxpayer’s income is above a certain limit, this amount may be reduced.
• Child Tax Credit. Generally, taxpayers can claim the Child Tax Credit for each qualifying child under the age of 17. The maximum credit is $1,000 per child. Taxpayers who get less than the full amount of the credit may qualify for the Additional Child Tax Credit.
• Child and Dependent Care Credit. Taxpayers may be able to claim this credit if they paid for the care of one or more qualifying persons. Dependent children under age 13 are among those who qualify. Taxpayers must have paid for care so that they could work or look for work.
• Earned Income Tax Credit. Taxpayers who worked but earned less than $53,505 last year should look into the EITC. They can get up to $6,269 in EITC. Taxpayers may qualify with or without children.
• Adoption Credit. It is possible to claim a tax credit for certain costs paid to adopt a child.
• Education Tax Credits. An education credit can help with the cost of higher education. Two credits are available: the American Opportunity Tax Credit and the Lifetime Learning Credit. These credits may reduce the amount of tax owed. If the credit cuts a taxpayer’s tax to less than zero, it could mean a refund. Taxpayers may qualify even if they owe no tax.
• Student Loan Interest. Taxpayers may be able to deduct interest paid on a qualified student loan. They can claim this benefit even if they do not itemize deductions.
*The above is not tax or legal advice. If you have questions about your own situation, please consult a tax professional to discuss your particular situation.
Niteo Tax And Accounting Solutions LLC will begin accepting and electronically transmitting tax returns for 2017 filing season on January 23rd, 2017.
Taxpayers claiming the Earned Income Tax Credit and the Additional Child Tax Credit should be aware that the IRS is going to hold refunds until at least February 15th, 2017 and these refunds likely won’t arrive in bank accounts until the week of February 27 – if there are no processing issues with the tax return and the taxpayer chose direct deposit.
The filing deadline to submit 2016 tax returns is Tuesday, April 18, 2017.
SELF-EMPLOYED? HERE ARE SOME GENERAL IRS TAX TIPS YOU SHOULD KNOW
If you are self-employed, you normally carry on a trade or business. Sole proprietors and independent contractors who provide a product or services to other businesses are two types of self-employment. If this relates to you, there are a few basic things you should know about how your income affects your federal tax return:
- SE Income. Self-employment can include income you received for part-time work. This is in addition to income from your regular job. A partner’s distributive share of income or loss is also self-employment income.
- Schedule C or C-EZ. A self-employed taxpayer reports business income and expenses on Schedule C, Profit or Loss from Business, or Schedule C-EZ if you had expenses less than $5,000 and meet certain other conditions.
- SE Tax. You may have to pay self-employment tax as well as income tax on net earnings from self-employment. Self-employment tax includes Social Security and Medicare taxes. Schedule SE, Self-Employment Tax, has to be filled out and attached to your federal tax return.
- Estimated Tax. Federal income tax is a “pay-as-you-go” system which means that taxpayers who fail to pay or significantly under-estimate the amount owed may be assessed penalties. To avoid that, self-employed individuals who expect to owe $1,000 or more in taxes need to make estimated tax payments in four annual installments.
- Allowable Deductions. You can deduct expenses you paid to run your business that are both ordinary and necessary. An ordinary expense is one that is common and accepted in your industry. A necessary expense is one that is helpful and proper for your trade or business.
Niteo Tax And Accounting Solutions LLC's cover photo
Niteo Tax And Accounting Solutions LLC
|Monday||08:00 - 18:00|
|Tuesday||08:00 - 18:00|
|Wednesday||08:00 - 18:00|
|Thursday||08:00 - 18:00|
|Friday||08:00 - 18:00|
Our Colorado law firm is unique in that we specialize in both criminal and immigration cases. Call 720.621.7635 for your free consultation.
Substance Abuse Treatment Programs,
Knowledge about finances IS NOT innate. Learn more about managing, making and saving money here. If something intrigues you, please contact me!
Martin Law Firm specializes in representing, emphasizing and advocating the interests of fathers in Colorado child support and custody matters.
We are a mobile firm whose main goal is getting you back to good. Our practice focuses on helping people with their family law, bankruptcy, and criminal law needs.
Tax Guard is a due diligence tax-monitoring solution for lenders, helping lenders understand a client’s tax compliance risk. Fund with confidence today!
Helping Seniors and their children plan for the future with wills, powers of attorneys and probate services. Located in south Westminster.
Regardless of your Tax Problem, we have a Tax Solution. Our Tax Attorneys are standing by. Call today for your Free Tax Consultation!