HAPPY NEW YEAR!
My family and I hope you had a blessed holiday season. We are so very grateful for your faithfulness as friends and clients. Again, I am looking forward to helping you be successful and pay no more taxes than necessary.
POST CARD TAX RETURN AND NEW TAX LAW IMPACT
Remember all the hype about the post card tax return? As it turns out, the new half page 1040 has up to six schedules in order to fill out page 1 and page 2 of the new 1040. Also, the Oregon tax returns will take 5 to 8 pages in order to file the return.
The new tax laws for 2018 majorly changed the rules for partnership, LLC and corporate tax deductions. We are staying on top of training and updates to better understand how these new rules will apply to each of our clients.
TAX SEASON START DATE: JANUARY 28TH, 2019
The IRS will begin releasing EITC & ACTC REFUNDS starting February 27th.
Where’s My Refund? IRS.gov will be updated with projected deposit dates a few days after a return is filed and a few days after February 27th for those who file for EITC.
NEW PORTAL SYSTEM AVAILABLE
A new feature we are happy to announce this year is our secure client portal! With this tool you will be able to upload the client organizers and source documents as well as download copies of your finished tax returns. You will also be able to update your profile with changes to your address and other important information. In order to opt into this new feature, please send a request to email@example.com and supply us with your current email address and you will receive an individual email invitation with directions to create your secure user account.
- REQUIREMENT FOR EVERYONE (IRS mandates new rules): In order to help keep both you and me from penalties, please answer the questions on the questionnaire as much as possible. If you don’t recognize a form or don’t know an answer, just put a “?” mark by the question.
- You may send your Organizer Questionnaire and tax information through our secure portal (see above).
- You may email your tax information to us at our new email address (see below).
- You may drop the information off at our office.
- You may mail the information to our year-round mailing address (see below).
- You may fax the information (see new fax number below).
- You may schedule an appointment with me to go over your information.
- New Customer Referrals are appreciated. Coupons for $25.00 for you and for your referral are enclosed as well as available on our website.
Affordable Care Act or ACA
The ACA affects everyone that files a return and is still in effect for 2018 returns. Even if you have insurance, we must verify your coverage and report that on the tax return. The law requires you to report coverage for you, your spouse and every dependent for each month they were covered. If you purchased health insurance on the Marketplace Exchange, you will be issued form 1095-A by January 31, 2019. Other insured persons will be issued a 1095-B or 1095-C. To avoid any penalties, insurance verification must be submitted before we can file your return.
Important Information Needed to File your Return:
- To claim education credits or deductions, you must have Form 1098-T from the school.
- Please make sure we have all your personal information correct, i.e. current address, telephone number(s), E-mail and current direct deposit
- Please provide a copy of source documents for W-2’s, 1099’s, stock brokerage statements and other tax reporting statements.
- Please make sure we have your correct dependents, their birth dates and their social security numbers.
- Make sure you have provided all your income and expenses.
We look forward to serving you again this year.
Jack Pound, EA, LTC
NEW YEAR-ROUND CONTACT INFORMATION (REPLACES ALL OTHER NUMBERS/ADDRESSES):
Phone: (541) 382-7131
Fax: 1(888) 345-0431
Secure Portal opt in: firstname.lastname@example.org
Mailing Address: Northwest Tax, LLC
154 N County Road 3400
Stratford, OK 74872