What do I do if I receive a notice from the IRS about my taxes?

Don’t panic! the first thing to do is carefully read the notice to determine why it was sent, what the IRS is requesting, and what they want you to do. It may be nothing of importance; it may even be a notice in your favor. After reading it you should bring it to our attention.

What do I need to bring when I am having my taxes prepared?

Following is a list of the more common items you should bring if you have them:

Wage statements (Form W-2)
Pension, or retirement income (Forms 1099-R)
Dependents’ Social Security numbers and dates of birth
Last year’s tax return
Information on education expenses
Information on the sales of stocks and/or bonds
Self-employed business income and expenses
Lottery and/or gambling winnings and losses
State refund amount
Social Security and/or unemployment income
Income and expenses from rentals
Record of purchase or sale of real estate
Medical and dental expenses
Real estate and personal property taxes
Estimated taxes or foreign taxes paid
Cash and non-cash charitable donations
Mortgage or home equity loan interest paid (Form 1098)
Unreimbursed employment-related expenses
Job-related educational expenses

How do I find out about my refund?

The best way is to use the Check Your Refund link from the Resources pages of our website! To look up the status of your federal or state refund, you will need your social security number, filing status, and exact amount you’re expecting back.

How long do I keep my records and tax returns?

You should keep your records and tax returns for at least 3 years from the date the return was filed or the date the return was required to be filed, whichever is later. It is recommended that you keep these records longer if possible.

What are the tax consequences of buying a home?

The main tax consequence of buying a home is that you may be able to deduct the property taxes you pay and any mortgage interest you pay. Points you pay may also be deductible. Please contact our office to determine the eligibility. Normal expenses for maintaining a home are not deductible, but you should keep records of any major expenses for repairs or improvements. I you have a taxable gain when you sell your home, these expenses may be deductible.

I haven’t been filing my tax returns, what should I do?

First, you must determine if you were required to file in the years you did not file. There are many different items that could figure into this-such as your filing status, your sources of income, whether you had any tax withheld, etc.

IRS filing requirements
If you determine you should have filed, contact us and we can handle all of your prior year filings. It is very important that you do not just continue to not file. If you owe money the penalties for not filing are high. If you are owed a refund you will lose your claim to it 3 years after the due date of the return.