Potler CPA Services, PLLC

Potler CPA Services, PLLC

Comments

The rumors that your payment transactions between friends and family will be taxed is incorrect. Business transactions on Zelle and Venmo will be treated just like business transactions on PayPal, but the reporting threshold has dropped from $20K to $600, to make sure small business are paying their fair share of income taxes.
The IRS will begin issuing Letter 6475, Your Third Economic Impact Payment, to EIP recipients in late January.

Please scan this and keep a copy for your tax records.
Check your mailboxes this week for the IRS letter 6419 for the ACTC. Scan it and keep a copy with your 2021 tax support!
Happy Thanksgiving to all our clients and followers, no matter where you are this week.
Thank you all for another wonderful tax season. Enjoy this gorgeous weekend weather!
If you get this letter from the IRS (**Save it to your tax support for year-end**), and you don't expect to be eligible for the Advanced Child Tax Credit in 2021 or you usually owe money and don't want to owe more, you need to opt-out immediately or you will have to pay it back with your 2021 tax return.
Go here to learn more https://www.potlercpa.com/.../advance-child-tax-credit
Go here to opt-out: https://www.irs.gov/credit.../child-tax-credit-update-portal
The advance Child Tax Credit will hit qualifying bank accounts today. Want to learn more or opt-out? Go to https://www.potlercpa.com/income-tax/dependents/advance-child-tax-credit to learn more and find the link on where and when to opt-out.
Ask your CPA if it would be beneficial to unenroll from the advance payments for 2021.
Texas residents must file or extend (by paper) their returns by June 15 next week. This applies to all tax returns for Texas residents. Payments are due by June 15th.
Please take a moment today to remember those who lost their lives defending our country.

But since it's still tax (extension) season, we are available by phone or email today.
Today is the last day to E-FILE your 4868 Tax Extension if you aren't going to be e-filed by the June 15 deadline (TX, OK, LA) or by TODAY for everyone else. Starting tomorrow you have to mail the 4868 to the IRS Regional Office.

The tax deadline for most taxpayers is tonight at midnight! (E-filed or postmarked today)

June 15 for TX, OK, and LA due to the Winter Storm.

https://www.irs.gov/filing/free-file-everyone-can-file-an-extension-for-free

We offer businesses and individuals a full range of solutions for their day-to-day tax, accounting a

As the parent company of Simple Solutions Consulting and Bookkeeping Solutions Houston, Potler CPA Services, PLLC will now provide your business (large or small) with a wide variety of accounting services, under the guidance of a licensed Texas CPA. Our accounting services include QuickBooks consulting, QuickBooks bookkeeping, and QuickBooks training from QuickBooks Certified ProAdvisors. We also

04/19/2023

All of our returning clientele who have not signed or finalized their 2022 tax return have been extended by our firm. Please plan to get your support to our CPA in June or July.

Extension of Time To File Your Tax Return | Internal Revenue Service 04/19/2023

Still need someone to extend your tax return tonight? Here's how:

Extension of Time To File Your Tax Return | Internal Revenue Service How to get an extension of time to file your tax return.

04/14/2023

Tuesday, April 18 is Tax Day! If you haven't gotten your support to us already, send it by Monday at noon for an estimate. Otherwise your return has been extended and we will get to you this summer. As of Friday, we will be unreachable until May 1.

11/11/2022
You may get an IRS refund if you filed your taxes late during the pandemic 09/11/2022

Good news is you filed late during the pandemic.

You may get an IRS refund if you filed your taxes late during the pandemic The IRS is refunding penalties it charged taxpayers for filing their 2019 and 2020 tax returns late, as a form of COVID-19 relief. The refunds don't apply to penalties for failing to pay your taxes.

09/11/2022

We will never forget. ❤️‍🩹

No, the average taxpayer will not have to pay $2,100 to cover the cost of student loan forgiveness 08/31/2022

No, the average taxpayer will not have to pay $2,100 to cover the cost of student loan forgiveness For taxes to be raised to pay for the plan, Congress would have to pass a bill amending the Internal Revenue Code. That hasn’t happened or been proposed.

IRS increases what teachers can deduct for classroom expenses 08/17/2022

Great news for both public and private school teachers, instructors, principals, and aides! Your educator expense deduction is now $300/yr.

"Any kindergarten through grade 12 teacher, instructor, principal or aide at a public or private school is eligible." https://thehill.com/policy/finance/3604278-irs-increases-what-teachers-can-deduct-for-classroom-expenses

IRS increases what teachers can deduct for classroom expenses As the school year begins, the IRS is telling educators that they can deduct up to $300 of out-of-pocket classroom expenses, the first increase in two decades. The special educator expense deductio…

04/08/2022

If you haven't filed your 2021 tax return yet, but you might owe money (like if you took the advanced child tax credit payments), you have until April 18 to make your payment with your tax extension. Late payments will have penalties and interest applied. Send us your income documents by Monday! Your 2021 federal tax return extension will be e-filed by the 18th if you are a current client.

03/31/2022

We are currently without Internet at the office and will resume operations tomorrow if we can get it fixed tonight.

03/19/2022

If you received a K-1 for 2021 that requires a K-2/K-3 for line 16 (foreign taxes paid), but it was not included with your K-1, you will be extended on April 15 and we will finish the return once the partnership in question sends the K-2/K-3 over the summer.

Several we've seen have estimated it will be August before they issue the new forms.

03/19/2022

If you are an existing client and have not sent us your tax support already, your return will be extended on April 15.

If you usually owe, or think you will owe, the IRS your payment is due by April 18, 2022. We can give you an estimate only if we receive your income support by April 1.

If you cannot get that information to us by April 1, we recommend making sure you've paid the IRS - at a minimum - what you owed in 2020. We cannot give you a better estimate without all of your 2021 income support.

We are no longer taking on new 2021 clients as of March 15. We do have several other good CPAs and Enrolled Agents we can recommend if you need help this tax season.

No, the IRS will not tax your Zelle, Venmo transactions 01/28/2022

The rumors that your payment transactions between friends and family will be taxed is incorrect. Business transactions on Zelle and Venmo will be treated just like business transactions on PayPal, but the reporting threshold has dropped from $20K to $600, to make sure small business are paying their fair share of income taxes.

No, the IRS will not tax your Zelle, Venmo transactions The IRS is not taxing transactions between family or friends, which is how most people use Venmo and Zelle.

01/16/2022

The IRS will begin issuing Letter 6475, Your Third Economic Impact Payment, to EIP recipients in late January.

Please scan this and keep a copy for your tax records.

01/12/2022

Check your mailboxes this week for the IRS letter 6419 for the ACTC. Scan it and keep a copy with your 2021 tax support!

11/23/2021

Happy Thanksgiving to all our clients and followers, no matter where you are this week.

10/16/2021

Thank you all for another wonderful tax season. Enjoy this gorgeous weekend weather!

07/29/2021

If you get this letter from the IRS (**Save it to your tax support for year-end**), and you don't expect to be eligible for the Advanced Child Tax Credit in 2021 or you usually owe money and don't want to owe more, you need to opt-out immediately or you will have to pay it back with your 2021 tax return.
Go here to learn more https://www.potlercpa.com/.../advance-child-tax-credit
Go here to opt-out: https://www.irs.gov/credit.../child-tax-credit-update-portal

Potler CPA Services, PLLC - Advance Child Tax Credit 07/15/2021

The advance Child Tax Credit will hit qualifying bank accounts today. Want to learn more or opt-out? Go to https://www.potlercpa.com/income-tax/dependents/advance-child-tax-credit to learn more and find the link on where and when to opt-out.

Potler CPA Services, PLLC - Advance Child Tax Credit What is the Advance Child Tax Credit? Congress has told the IRS to begin making advance Child Tax Credit (CTC) payments on July 15, 2021 to eligible households. You will receive $300 for each child under the age of 6 (as of 12/31/21) and $250 for each child ages 6-17 (as of 12/31/21). The

One week away: The IRS sends out Advance Child Tax Credit Payments 07/09/2021

Ask your CPA if it would be beneficial to unenroll from the advance payments for 2021.

One week away: The IRS sends out Advance Child Tax Credit Payments The 1st payments go out on July 15. How to get your bank info to the IRS and how to unenroll for the payments.

06/11/2021

Texas residents must file or extend (by paper) their returns by June 15 next week. This applies to all tax returns for Texas residents. Payments are due by June 15th.

05/31/2021

Please take a moment today to remember those who lost their lives defending our country.

But since it's still tax (extension) season, we are available by phone or email today.

Free File: Everyone Can File an Extension for Free | Internal Revenue Service 05/17/2021

Today is the last day to E-FILE your 4868 Tax Extension if you aren't going to be e-filed by the June 15 deadline (TX, OK, LA) or by TODAY for everyone else. Starting tomorrow you have to mail the 4868 to the IRS Regional Office.

The tax deadline for most taxpayers is tonight at midnight! (E-filed or postmarked today)

June 15 for TX, OK, and LA due to the Winter Storm.

https://www.irs.gov/filing/free-file-everyone-can-file-an-extension-for-free

Free File: Everyone Can File an Extension for Free | Internal Revenue Service File an extension for free with your choice of Free File tax software.

Where's my tax refund? Americans face delays as IRS holds nearly 30M tax returns for manual processing 04/24/2021

If you are still waiting on your refund, you are not alone. The IRS has pulled millions of E-filed returns for manual processing. Which means you could be waiting several extra weeks for your refund.

https://www.usatoday.com/story/money/2021/04/23/stimulus-check-update-2021-tax-refund-delay-covid-relief-payments/7344076002/

Where's my tax refund? Americans face delays as IRS holds nearly 30M tax returns for manual processing The Internal Revenue Service is holding 29 million returns for manual processing, contributing to longer refund delays for many Americans.

The IRS will issue automatic refunds to some Americans for the $10,200 unemployment tax break, starting in May 04/04/2021

If you had federal income taxes withheld from your unemployment checks in 2020, you're eligible for a tax refund on the first $10,400 of income. The IRS will begin issuing those soon.

https://www.businessinsider.com/personal-finance/refunds-for-taxpayers-unemployment-tax-break-2021-3

The IRS will issue automatic refunds to some Americans for the $10,200 unemployment tax break, starting in May Some people filed their 2020 taxes before the American Rescue Plan became law. They still qualify for the unemployment tax break and will be refunded.

IRS identity check: Why more tax payers’ refunds are on hold 03/29/2021

If you receive the 5071-C letter from the IRS regarding your identity, this is legitimate and must be answered timely to receive your round 3 stimulus check from the IRS. This is to prevent identify fraud.

IRS identity check: Why more tax payers’ refunds are on hold If you’re expecting a tax refund but it hasn’t arrived you may be one of a growing number of tax payers who have been flagged by the IRS.

IRS to Delay 2021 Income Tax Filing Day to May 17 03/17/2021

Update: This change will only be for personal returns due April 15, not C-Corp returns or any other returns due in April.

At this time IRS and Congress are discussing pushing the April 15 tax deadline to May 17 (May 15 is a weekend) for all US tax returns due next month. This isn't official yet and it could still be pushed further back. We will keep you updated as we learn more.

https://www.cpapracticeadvisor.com/tax-compliance/news/21214806/irs-to-delay-2021-income-tax-filing-day-to-may-17

IRS to Delay 2021 Income Tax Filing Day to May 17 April 15 is not the tax filing deadline for 2021. Officials with the Internal Revenue Service and the U.S. Department of the Treasury have said the 2021 income tax filing and payment deadline will be pushed back, likely to May 17, 2021.

Get My Payment | Internal Revenue Service 03/13/2021

Curious about your 3rd stimulus check? Check here to see if you qualify and if it's been sent.

https://www.irs.gov/coronavirus/get-my-payment

Get My Payment | Internal Revenue Service Use Get My Payment to get information about your payment status and payment type.

Where's my stimulus check? Chase, Wells Fargo expect midweek deposit 03/13/2021

Wondering when you will see your IRS stimulus direct deposit? If you have Chase or Wells Fargo, it could be next week.

Where's my stimulus check? Chase, Wells Fargo expect midweek deposit The IRS said it has begun processing payments, with the first showing up in bank accounts this weekend.

American Rescue Plan Act passes with many tax components 03/10/2021

Due to the new American Rescue Plan Act passed by the House today, we encourage all taxpayers to start tracking all payments received from the IRS as tax support for the following year. You will need to know the exact amount you've received when you file your taxes for the following categories of IRS payments. We do not anticipate the IRS mailing forms to taxpayers confirming the amount of these payments in 2021 or beyond.

--Many of you will receive another Stimulus Check ( #3) in 2021, this time college students and qualifying dependents are included in the calculation.
"The act creates a new Sec. 6428B that provides individuals with a $1,400 recovery rebate credit ($2,800 for married taxpayers filing jointly) plus $1,400 for each dependent (as defined in Sec. 152) for 2021, including college students and qualifying relatives who are claimed as dependents."

--Many of you will receive a Monthly Advance of the higher Child Tax Credit. However, unlike the Stimulus Checks, if your 2021 income is above the threshold, these amounts must be repaid to the IRS by April 2022.
"The act increases the amount of the credit to $3,000 per child ($3,600 for children under 6). The increased credit amount phases out for taxpayers with incomes over $150,000 for married taxpayers filing jointly, $112,500 for heads of household, and $75,000 for others, reducing the expanded portion of the credit by $50 for each $1,000 of income over those limits. The IRS is directed to estimate taxpayers’ child tax credit amounts and pay monthly in advance one-twelfth of the annual estimated amount. Payments will run from July through December 2021."

We highly recommend e-filing your 2020 return before the June 15 (for Texans) deadline (April 15 for the rest of the states - for now). The IRS was backlogged by 11 Million 2019 Returns as of February 2021. Most of these were probably paper-filed, so we encourage all taxpayers e-file this year if possible.

There is no need to amend your 2020 return unless you had to repay the Premium Tax Credit for ACA Healthcare. Once the IRS updates the system, there will no longer be a repayment due.

More details here: https://www.journalofaccountancy.com/news/2021/mar/tax-components-coronavirus-relief-bill.html
And here:
https://www.ncsl.org/ncsl-in-dc/publications-and-resources/american-rescue-plan-act-of-2021.aspx

American Rescue Plan Act passes with many tax components The $1.9 trillion coronavirus relief bill that passed Congress contains many tax provisions, including changes to the child tax credit and many other credits, making certain unemployment benefits tax-free in 2020, and a $1,400 recovery rebate credit for many individuals.

Victims of Texas winter storms get deadline extensions and other tax relief | Internal Revenue Service 02/23/2021

GOOD NEWS FOR TEXANS AFTER A BAD WEEK

We have some good news after a tough week here in Texas. The Internal Revenue Service has extended the April 15 tax-filing and payment deadline to June 15 for all residents and businesses in Texas, citing the damage caused by the recent winter storms and power outages in the state.

This extension includes the following deadlines and is backdated to February 11, 2021:

- 2021 Estimated Payments due by April 15
- 2020 IRA Contributions due by April 15
- Payroll Tax Returns due by April 15
- All personal/business/non-profit Federal Tax Returns due March 15, April 15, or May 15, 2021

**This currently applies only to filers who use a Texas address on their tax filings.**

In addition, the IRS will work with any taxpayer who lives outside the disaster area, but who relies on tax forms generated within Texas. Taxpayers qualifying for relief who live outside the disaster area need to contact the IRS at 866-562-5227.

More details can be found here: https://www.irs.gov/newsroom/victims-of-texas-winter-storms-get-deadline-extensions-and-other-tax-relief

Victims of Texas winter storms get deadline extensions and other tax relief | Internal Revenue Service IR-2021-43, February 22, 2021 — Victims of this month’s winter storms in Texas will have until June 15, 2021, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.

Home | disasterassistance.gov 02/20/2021

Individuals and business owners who sustained losses in these counties can begin applying for assistance by registering online at www.DisasterAssistance.gov or by calling 1-800-621-3362 or 1-800-462-7585.

Angelina, Aransas, Bastrop, Bee, Bell, Bexar, Blanco, Brazoria, Brazos, Brown, Burleson, Caldwell, Calhoun, Cameron, Chambers, Collin, Comal, Comanche, Cooke, Coryell, Dallas, Denton, DeWitt, Ellis, Falls, Fort Bend, Galveston, Gillespie, Grimes, Guadalupe, Hardin, Harris, Hays, Henderson, Hidalgo, Hood, Jasper, Jefferson, Johnson, Kaufman, Kendall, Lavaca, Liberty, Madison, Matagorda, Maverick, McLennan, Montague, Montgomery, Nacogdoches, Nueces, Orange, Palo Pinto, Panola, Parker, Polk, Rockwall, Sabine, San Jacinto, San Patricio, Scurry, Shelby, Smith, Stephens, Tarrant, Travis, Tyler, Upshur, Van Zandt, Victoria, Walker, Waller, Wharton, Wichita, Williamson, Wilson, and Wise Counties.

Home | disasterassistance.gov You can find more information on the Coronavirus (COVID-19) page and the Centers for Disease Control and Prevention (CDC) website.

02/15/2021

Power went out around noon at our home office, so we have no internet or VoIP phones. We barely have a cell signal either.

Stay warm and dry everyone. We will reopen once our internet is back on and phones are restored. In the meanwhile we are available by email or text.

02/15/2021

We hope that everyone is staying warm with the widespread power outages in Houston and surrounding areas. We currently have power and internet and will be working from home on your tax returns because the IRS waits for no snowstorm.

Fortunately, Governor Abbott and President Biden issued a Federal Emergency Declaration for the State of Texas in advance of the winter storm last night. This not only frees up FEMA funds for helping people in the area, it allows you to deduct personal casualty losses (this used to be for any casualty loss over $100, but that was changed for 2018-2025).

Your tax return could be flagged by the IRS. Here’s when it may happen 02/13/2021

Avoid the headache of dealing with the IRS due to reporting discrepancies. Hire a CPA for your 2020 tax return.
https://www.cnbc.com/2021/02/13/what-to-do-if-your-tax-return-is-flagged-by-irs.html

Your tax return could be flagged by the IRS. Here’s when it may happen Filing a 2020 tax return may be confusing due to things like stimulus checks — which may mean more mistakes and a greater chance of hearing from the IRS.

Tackle your taxes: Keep more of your money with new COVID tax rules and credits 02/09/2021

No time to keep up with ever-changing IRS regulations and guidelines? Let us help!

https://www.click2houston.com/news/local/2021/02/08/tackle-your-taxes-keep-more-of-your-money-with-new-covid-tax-rules-and-credits

Tackle your taxes: Keep more of your money with new COVID tax rules and credits We know last year was rough financially for a lot of people. You should know there are some things you can do when you file your taxes to keep more money for you and your family.

02/06/2021

Even if you don't itemize deductions in 2020, you can still take up to $300 in charitable donations when you take the standard deduction. So make sure you tell your CPA about everything you donated in 2020.

Stimulus checks and taxes: What you need to know before filing your 2020 income tax returns 01/24/2021

Questions about the stimulus checks? We can help. Here's a little bit that might help you.

If you didn't get yours due to 2019 income levels but you are owed the stimulus check based on 2020 income levels, contact us to get you filed once the IRS e-filing system opens in February.

https://www.usatoday.com/story/money/taxes/2021/01/22/stimulus-checks-and-your-taxes-what-you-need-know-before-you-file/6656447002/

Stimulus checks and taxes: What you need to know before filing your 2020 income tax returns Get answers to questions like whether you'll have to pay taxes on those stimulus checks and how they could impact your anticipated refund.

Want your business to be the top-listed Accountant in The Woodlands?
Click here to claim your Sponsored Listing.

Our Story

Potler CPA Services, PLLC provides your business (large or small) with a wide variety of accounting services, under the guidance of a licensed Texas CPA.

Our accounting services include QuickBooks consulting, bookkeeping, and training from QuickBooks Certified ProAdvisors. We also offer Payroll Services, Monthly Financial Statements, Personal Income Tax Return Preparation and Business Income Tax Return Preparation.

Telephone

Address


1095 Evergreen Cir, Suite 200/528
The Woodlands, TX
77380

Opening Hours

Monday 8am - 5pm
Tuesday 8am - 5pm
Wednesday 8am - 5pm
Thursday 8am - 5pm
Friday 8am - 5pm

Other The Woodlands accountants (show all)
Charles Duncan CPA Charles Duncan CPA
5 Grogan's Park Drive Suite 110
The Woodlands, 77380

I limit my practice to representing taxpayers who have issues with the IRS which includes those who

All Accounts Consulting, LLC All Accounts Consulting, LLC
431 Nursery Road , C100
The Woodlands, 77380

Accounting and Financial Consulting Company

The Arranger The Arranger
The Woodlands, 77354

Quality service goes in before service goes out!

Platinum Wealth Management Platinum Wealth Management
8505 Technology Forest Place Ste 404
The Woodlands, 77381

Investment advisory services offered through CWM, LLC, an SEC Registered Investment Advisor.

Jackson Hewitt Tax Service Jackson Hewitt Tax Service
3040 College Park Drive
The Woodlands, 77384

Easy Tax USA Easy Tax USA
1725 Hughes Landing Boulevard
The Woodlands, 77380

Easy Tax USA for the best online tax filing experience

Steward CPA PC Steward CPA PC
8505 Technology Forest Place 204
The Woodlands, 77381

Steward CPA PC has helped many individuals and businesses achieve their goals.

Better Bookkeepers, Inc. - The Woodlands Better Bookkeepers, Inc. - The Woodlands
19221 Interstate 45 South, Ste. 300
The Woodlands, 77385

Helping businesses do what they do best! We take the burden of managing the money off your plate, so