Flash Tax Service

We wanted to share a timely update based on recent comments made by Treasury Secretary Scott Bessent regarding adjustments to federal tax withholdings.

By submitting an updated Form W-4 to reduce the amount withheld from your paycheck, you can take home more money with each pay period rather than waiting for a larger refund when you file your taxes. This improved cash flow can be particularly helpful for covering monthly bills and other ongoing expenses. It may also align with broader efforts to improve federal budget management.

Important Note: Adjusting your tax withholdings is not the right choice for everyone. This strategy tends to benefit households with children under age 16 the most, primarily due to the Child Tax Credit (CTC) and your overall income level. If you do not qualify for the Earned Income Credit (EIC) or the Child Tax Credit, reducing your withholdings could result in owing taxes when you file your return. In most cases, this approach will lead to a smaller refund—or possibly no refund—at tax time.

We strongly encourage you to weigh this decision carefully based on your personal financial situation and cash flow needs. Some individuals prefer receiving a larger refund as a form of forced savings, while others value having more money available in their paycheck throughout the year.

We also recommend reviewing your tax withholdings periodically. Life events such as marriage, the birth of a child, a raise, a promotion, or changes in income can significantly impact your tax liability. Failing to update your withholdings when circumstances change may result in an unexpected tax bill.

We will be out of the office until April 20, please call or text us if you need anything

Good Morning only 2 days till the deadline

We will be closed Saturday & Sunday. Reopen Monday. HAPPY EASTER

Filing deadline is quickly approaching. Still have time or contact us to file an extension.

The alerts taxpayers to fake tax deduction calculators and online software exploiting the new tax laws under the One, Big, Beautiful Bill. Scammers may try to trick ineligible taxpayers into falsely claiming these new or expanded tax credits and deductions. The IRS urges you to protect your financial information and only use official, trusted sources for tax calculations and information.

These guidelines explain how: https://ow.ly/EveY50YBj5a

If you pay someone else to do your taxes and they use online software be very wary of fraud. IRS is on the lookout for ghost preparers and you are 100% responsible for the fraud on your return. You may think you got away with it but they never stop looking and you may get a notice in 2-3 years.