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We hope you are doing great this time around! Tax season can be a very stressful process, but if you have the right team on your side it makes a huge difference. With the ever-changing Tax laws we like to keep our clients up to date, therefore, we are introducing our very first blog.

The IRS has officially opened and started to accept returns on Jan. 23, 2017.
Documents to gather for filling for individuals include, but are not limited to:

W-2's
Social
Security, 401K, Pension, or annuity distributions
Interest & dividend Income
1099's
1098's (Mortgage, Tuition, etc)
Do you have a Business attached to your return?

Financial Statements
Income
Expenses
Mileage Records
Due to changes in the law, starting in 2017, the IRS can’t issue refunds before Feb. 15, 2017, for returns that claim the Earned Income Credit (EIC) or the Additional Child Tax Credit (ACTC). This applies to the entire refund, not just the portion associated with these credits. As in past years, the IRS will begin accepting and processing tax returns once the filing season begins. All taxpayers should file as usual, and tax return preparers should also submit returns as they normally do. Even though the IRS cannot issue refunds for some early filers until at least Feb. 15, the IRS reminds taxpayers that most refunds will still be issued within the normal timeframe: 21 days or less, after being accepted for processing by the IRS. Source IRS.GOV

The IRS officially opened Jan 23, 2017, for individuals.

• Proof of income - usually provided by the employer by Jan 31'st.


• Charitable Donation Receipts


• Job Expense Records: It is ok to Itemize your expenses however you need to have proper documentation.


• Health Insurance: If you have coverage through your job this will be in section 12 of your W-2 if not you need a 1098T.


• SSNs and DOBs: This is standard practice but please make sure your documentation matches your Social Security card and DOB matches your ID.


• Prior Year Tax Return: If you are a new client this helps with staying consistent with the IRS and what they have on file as far as the status of filling dependents etc.

Do you have a Business attached to your return?

• Business Expense Records: It is ok to Itemize your expenses however you need to have proper documentation.


• Financial Statements


• Income


• Mileage Records

Due to changes in the law, starting in 2017, the IRS can’t issue refunds before Feb. 15, 2017, for returns that claim the Earned Income Credit (EIC) or the Additional Child Tax Credit (ACTC). This applies to the entire refund, not just the portion associated with these credits. As in past years, the IRS will begin accepting and processing tax returns once the filing season begins. All taxpayers should file as usual, and tax return preparers should also submit returns as they normally do. Even though the IRS cannot issue refunds for some early filers until at least Feb. 15, the IRS reminds taxpayers that most refunds will still be issued within the normal timeframe: 21 days or less, after being accepted for processing by the IRS. Source IRS.GOV

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