JT Tax Services

Tax Services
Couple looking at laptop illustrates blog "Will Tax Refunds Be Bigger in 2023?"

Will Tax Refunds Be Bigger in 2023?

Tax season 2023 has officially started, and with it come all types of questions. For example, will tax refunds be bigger in 2023? In today’s blog post, we answer this question and provide some useful tips for the filing season. 

Will Tax Refunds Be Bigger in 2023?

Unfortunately, the answer is no: it is unlikely that your tax return will be bigger in 2023 than in the last two years. One of the main reasons is that there were no Economic Impact Payments for 2022

Additionally, some tax credits (such as the child tax credit) that were extended to offer economic relief during the pandemic have reverted to their 2019 levels. 

To sum it up, many of the tax incentives that were deployed over the last two years to help Americans deal with the impact of COVID-19 are being rolled back. For many taxpayers, this return to normal will translate into a smaller tax refund in 2023.

Regardless of the size of your return, there are some things you can do speed up the process:

  • File as early as possible (while making sure that all the information in your return is accurate)
  • File electronically
  • Choose direct deposit for your tax refund 

What You Need To Keep in Mind

Federal tax season 2023 began on January 23. The deadline to file your federal taxes this year is April 18, 2023

However the IRS has given victims of the storms that hit California an extended May 15 deadline to file federal individual and business tax returns and make the related tax payments.

If you need help filing your tax return, contact JT Tax Services. Our team will answer all your questions and ensure that you get your maximum tax refund. 

For more tips on how to navigate the 2023 tax season, check out our previous blog “Reminder: Tax Season Begins January 2023.”

Have Questions? at JT Tax Services, We Have Answers

At JT Tax Services, we give you the peace of mind that comes with knowing that you are limiting your liability while staying compliant with all regulations.

We are located in Oxnard, California, contact us today by email (info@jttaxservices.com), telephone (805-984-8890), or through our social media accounts on Facebook, Twitter, and LinkedIn to schedule a consultation or to learn more about our services.

Person using calculator illustrates blog "Reminder: Tax Season Begins January 23"

Reminder: Tax Season Begins January 23

In just a few days, the IRS will start accepting and processing tax returns, marking the beginning of the 2023 tax filing season. In today’s post, we tell you everything you need to know, including information about the extended deadline for victims of the California storms.

 Tax Season Begins January 23

The Internal Revenue Service (IRS) has informed that it will start accepting tax returns on January 23, 2023.

Taxpayers will have until April 18, 2023, to file their federal taxes and make the related payments.

The IRS expects to process more than 168 million individual tax returns, with the majority of them arriving before the April 18 deadline. 

Here are some tips to ensure a smooth tax-filing season:

  • Gather all the information you need before filing your tax return (this includes Social Security Number or ITIN, supporting documents, information of dependents, among others)
  • Review your tax situation to make sure you don’t overlook tax credits you may be eligible for

IRS Extended the Federal Tax Deadline for California Storm Victims

Remember that while the official deadline to file and pay federal taxes is April 18, 2023, the IRS announced an extended deadline for those affected by the storms that have been pummeling California.

If you live or have business in any of the localities listed below, you have until May 15, 2023 to file federal individual and business tax returns and make the related tax payments.

ColusaSan Diego
El DoradoSan Joaquin
GlennSan Luis Obispo
HumboldtSan Mateo
Los AngelesSanta Barbara
MarinSanta Clara
MariposaSanta Cruz
MendocinoSolano
MercedSonoma
MontereyStanislaus
NapaSutter
OrangeTehama
PlacerVentura
RiversideYolo
SacramentoYuba
San Bernardino

Other localities added later to the disaster area will also qualify for the same tax relief. You can check the updated list on the section Tax Relief in Disaster Situations on the IRS website.

Have Questions? at JT Tax Services, We Have Answers

At JT Tax Services, we give you the peace of mind that comes with knowing that you are limiting your liability while staying compliant with all regulations.

We are located in Oxnard, California, contact us today by email (info@jttaxservices.com), telephone (805-984-8890), or through our social media accounts on Facebook, Twitter, and LinkedIn to schedule a consultation or to learn more about our services.

Close-up of man holding calculator illustrates blog: "California Storms: IRS Extends Tax Deadline for Victims"

California Storms: IRS Extends Tax Deadline for Victims

In view of the relentless storms affecting California, the IRS has announced that it will offer tax relief to the victims by extending to May 15, 2023, the deadline to file federal individual and business tax returns and make the related tax payments.

IRS Extends Tax Deadline for California Storm Victims

The massive storms sweeping through California have caused the IRS to offer tax relief to the victims, who will now have until May 15, 2023, to file federal individual and business tax returns and make the related tax payments.

The original deadline for federal individual tax returns and payments was April 18, 2023.

The extended deadline will apply to all the individuals and households that live or have a business in any area designated by the Federal Emergency Management Agency (FEMA). The current list of counties that can take advantage of this tax relief include the following counties:

ColusaSan Diego
El DoradoSan Joaquin
GlennSan Luis Obispo
HumboldtSan Mateo
Los AngelesSanta Barbara
MarinSanta Clara
MariposaSanta Cruz
MendocinoSolano
MercedSonoma
MontereyStanislaus
NapaSutter
OrangeTehama
PlacerVentura
RiversideYolo
SacramentoYuba
San Bernardino

Other localities added later to the disaster area will also qualify for the same tax relief. You can check the updated list on the section Tax Relief in Disaster Situations on the IRS website.

It’s worth noting that farmers who choose to forgo making estimated tax payments and normally file their returns by March 1 will now have until May 15, 2023, to file their 2022 return and pay any tax due. 

Additionally, The May 15, 2023, deadline also applies to the quarterly estimated tax payments, normally due on January 17, 2023, and April 18, 2023. This means that individual taxpayers can skip making the fourth quarter estimated tax payment, normally due January 17, 2023, and instead include it with the 2022 return they file, on or before May 15.

Have Questions? at JT Tax Services, We Have Answers

At JT Tax Services, we give you the peace of mind that comes with knowing that you are limiting your liability while staying compliant with all regulations.

We are located in Oxnard, California, contact us today by email (info@jttaxservices.com), telephone (805-984-8890), or through our social media accounts on Facebook, Twitter, and LinkedIn to schedule a consultation or to learn more about our services.

Photo of woman with Santa Claus hat looking at laptop with man behind her illustrates blog: "Charitable Donations and Taxes: What You Need To Know"

Charitable Donations and Taxes: What You Need To Know

Christmas is a time of giving, so chances are good that you are considering making a donation to lighten up someone’s Christmas. If that’s the case, read on to discover some useful tax tips to keep in mind this holiday season.

Charitable Donations and Taxes: What You Need To Know

First things first: remember that in order to claim a deduction on your 2022 tax return, you must donate to a tax-exempt organization by December 31 2022.

Another important point to consider is that, in general, you can only deduct charitable contributions if you itemize deductions on schedule A (although an exception was made for 2021 returns).

While most charitable tax donations qualify for the deduction, there are some exceptions. For example, donations that are not tax deductible include those:

  • Made to a supporting organization
  • Intended to help establish or maintain a donor advised fund
  • Carried forward from prior years
  • Made to most private foundations
  • Made to charitable remainder trusts

A charity must have something known as 501(c)3 status if you want to deduct your donation on your federal tax return. You can check an organization’s 501(c)3 status by using the IRS’ Tax Exempt Organization Search tool.

For most people, making a donation means donating funds. However, If you donate property other than cash, you may generally deduct the fair market value of the property.

It’s also worth noting that the term “cash” doesn’t refer to physical money only. For tax purposes, cash contributions include those made by check, credit card or debit card as well as unreimbursed out-of-pocket expenses in connection with volunteer services to a qualifying charitable organization.

If you need help making sense of charitable donations and how to claim them on your tax return, feel free to contact our experts. We’ll be happy to offer assistance and answer all your questions.

Have Tax Questions? At JT Tax Services, We’ve Got Answers

At JT Tax Services, we give you the peace of mind that comes with knowing that you are limiting your liability while staying compliant with all regulations.

We are located in Oxnard, California, contact us today by email (info@jttaxservices.com), telephone (805-984-8890), or through our social media accounts on Facebook, Twitter, and LinkedIn to schedule a consultation or to learn more about our services.

Closeup of laptop displaying image of magnifying glass illustrates blog: "FBI Warns About New Strategy Used by Cybercriminals"

FBI Warns About New Strategy Used by Cybercriminals

More and more people are turning to the internet to seek tax advice or even make tax-related payments. However, the FBI is recommending users to stay cautious when they search for information online, as they may become the unsuspecting victims of cybercriminals.

FBI Warns About New Strategy Used by Cybercriminals

The internet is a vast place, and the most efficient way to make sense of it is by using a search engine. However, cybercriminals are aware of this fact and have found a way to lure unsuspecting victims using the advertising features of search engines.

According to a public service announcement released by the FBI, cybercriminals are using search engine advertisement services to impersonate brands and direct users to malicious sites that may steal their personal information.

As the name suggests, search engine advertising is a type of marketing that appears when a user looks for information on a search engine. While the vast majority of information displayed on search engines is legitimate and useful, criminals are paying for ads that appear alongside other results with the purpose of misleading users. 

How To Protect Yourself

As the FBI points out, search engines “are not malicious in nature.” However, you should exercise caution when using them. Here are some tips to keep you safe:

  • If you know the internet address of the website you want to visit, use it instead of looking up the name of the company or institution on a search engine (a strategy some people use to save time)
  • Before clicking on a search engine result, check the address carefully for words misspelled with malicious intent (for example “yourbnak.com” instead of “yourbank.com”)
  • Use an ad blocking extension when performing internet searches. An ad blocking extension is a small piece of software that prevents ads from appearing on your browser. In most cases you can customize which websites are allowed to display ads. 

Have Tax Questions? At JT Tax Services, We’ve Got Answers

At JT Tax Services, we give you the peace of mind that comes with knowing that you are limiting your liability while staying compliant with all regulations.

We are located in Oxnard, California, contact us today by email (info@jttaxservices.com), telephone (805-984-8890), or through our social media accounts on Facebook, Twitter, and LinkedIn to schedule a consultation or to learn more about our services.

Drawing of thief casting a fishing rod into a computer monitor illustrates blog: "Don’t Fall for These Two Common Holiday Scams!"

Don’t Fall for These Two Common Holiday Scams!

For most people, the holidays are a time of joy and good will. But for scammers, this is one of the best times of the year to look for victims. Here’s what you need to know to avoid being one. 

The Two Most Common Holiday Scams

According to the FBI, the two most common holiday scams are non-delivery and non-payment scams.

In a non-delivery scam, a buyer pays online for goods or services advertised online, but they never get anything in return. 

On the other hand, a non-payment scam works the opposite way:  goods or services are provided but the seller never gets paid.

Other scams often found during the holidays include auction fraud (where a product is misrepresented on an auction website) and gift card fraud, where a person asks you to make a a payment or donation using a gift card. 

No matter what type of scam you happen to come across, the result is always frustrating. So, what to do to protect yourself?

How To Avoid Holiday Scams

As you can see from the description above, most holiday scams have an element in common: scammers almost always use either the telephone, a text message, or the internet to fish for victims. 

That bit of information gives you an advantage, as you already know where a scam attempt may come from. Here’s what you need to do to ward off scammers:

  • First of all, remember that if an offer or a discount you see online seems too good to be true, it probably is. 
  • Don’t open emails that seem suspicious (for example, the name of the sender is misplaced or the subject seems out of character).
  • Don’t click on any suspicious links and don’t download any attachments unless you are absolutely positive that they are legitimate.
  • Cybercriminals try to impersonate reputable websites by using internet domains that can be easily confused with legitimate ones, so pay close attention to a website’s address (for example, scammers may use www.bnak.com instead of www.bank.com)
  • Never wire money directly to a seller and never pay with gift cards. 
  • If you pay online using your credit card, check your statements regularly to catch any suspicious payments as soon as possible. 

Have Tax Questions? At JT Tax Services, We’ve Got Answers

At JT Tax Services, we give you the peace of mind that comes with knowing that you are limiting your liability while staying compliant with all regulations.We are located in Oxnard, California.Contact us today by email (info@jttaxservices.com), telephone (805-984-8890), or through our social media accounts on Facebook, Twitter, and LinkedIn to schedule a consultation or to learn more about our services.

Drawing of calendar with the word "Tax" illustrates blog: "When Are Taxes Due in 2023?"

When Are Taxes Due in 2023?

With New Year’s fast approaching, this is an excellent time to start asking questions such as “When are taxes due in 2023?” Keep reading to discover the answer to this and other useful tax facts.

When Are Taxes Due in 2023?

Most years, the due date for filing your tax return is April 15. However, April 15 2023, falls on a Saturday, so Tax Day 2023 will be on April 18, 2023, unless extended due to local state holiday. 

Once the date is announced officially, we’ll write a post about it, so make sure to check our blog and social media regularly over the next few months.

Remember that failing to file your return by the due date results in penalties and interests. Failure-to-pay penalties are 5% of the unpaid taxes for each month or part of a month that your return is late, up to 25% of your tax bill. 

 Early planning is the best way to simplify the tax filing process and avoid headaches. If you are already planning, props to you: you are ahead of the curve and in line for a smooth filing season.

What To Do if I Can’t File My 2022 Taxes on Time?

Although it may be a little early to know whether you’ll need more time to file your taxes next year, knowing your options is always a good idea. 

People who can’t file their tax return by the due date can request an extension. For example, taxpayers who requested an extension in 2022, got six additional months to file their return (October 15 instead of April 15).

There are two things to keep in mind when applying for an extension:

  • You have to request the extension before the original filing deadline
  • An extension to file is NOT an extension to pay. In other words, even if you request an extension, you still have to estimate and and pay your taxes by the original tax due date

Have Tax Questions? At JT Tax Services, We’ve Got Answers

At JT Tax Services, we give you the peace of mind that comes with knowing that you are limiting your liability while staying compliant with all regulations.We are located in Oxnard, California.Contact us today by email (info@jttaxservices.com), telephone (805-984-8890), or through our social media accounts on Facebook, Twitter, and LinkedIn to schedule a consultation or to learn more about our services.

Illustration of woman in front of calendar, clock, and tablet that reads "Tax."

Can Taxes Be Paid in Installments?

“Can taxes be paid in installments?” is a common question among people who face a particularly high tax bill. In today’s post, we answer this question and offer some tips for paying your taxes.

Can Taxes Be Paid in Installments?

Yes, if you can’t pay your taxes by the due date, you can set up a payment plan with the IRS to settle your tax bill in installments.

However, most people find it easier and less expensive to take advantage of other options, such as paying their taxes by credit card.

If you still want to pay your taxes in installments, the first thing to do is to contact the IRS to request a payment plan.

The good news is that, with some exceptions, the IRS is generally prohibited from levying and their time to collect is suspended while an installment agreement is pending.

You have different options to apply for a payment plan: you can do it online, by phone, or even by traditional mail. 

Once the IRS approves the installment agreement, you can choose to pay your monthly installments from your checking or savings account or by money order or debit/credit card (fees apply when paying by card).

What You Need To Keep in Mind

Keep in mind that there are application fees associated with setting up an installment agreement, although the fee may be reduced in some cases. 

Whether you decide to set up a payment plan or pay by other method such as credit card, remember that it’s better to pay as much as you can by the due date. This way you will limit any late payment fees and penalties. 

For answers to other common tax questions, check out our previous blogs, “Will the IRS Ever Go to Your House?,” and “Are Car Expenses Tax Deductible?

At JT Tax Services, We’ve Got Answers to Your Tax Questions

At JT Tax Services, we give you the peace of mind that comes with knowing that you are limiting your liability while staying compliant with all regulations.

We are located in Oxnard, California.Contact us today by email (info@jttaxservices.com), telephone (805-984-8890), or through our social media accounts on Facebook, Twitter, and LinkedIn to schedule a consultation or to learn more about our services.

Close-up of man using calculator illustrates blog: "Will the IRS Ever Go to Your House?"

Will the IRS Ever Go to Your House?

It’s a well-known fact that scammers love to pose as IRS agents to lure potential victims. With that in mind, it’s normal to ask “Will the IRS ever come to my home?” In today’s post, we provide the answer. 

Will the IRS Ever Go to Your House?

The answer is yes. At least in theory, the IRS can visit a taxpayer’s house during an investigation. However, remember that an IRS won’t demand any sort of payment without giving you the chance to appeal the amount.

According to the IRS, there are three main reasons why an agent may go to your house or business:

  • Audits
  • Collection
  • Criminal investigation

What You Need To Know

While it’s true that IRS agents can sometimes visit a home or business, that doesn’t mean that you shouldn’t take precautions.

Here are some useful pointers for dealing with a visit from the IRS.

In the case of audits, an IRS employee may visit your house if all other attempts to contact you fail. 

Remember that revenue agents carry two forms of identification, each displaying serial numbers and a photo of the employee:

  • An IRS-issued credential known as pocket commission
  • The HSPD-12, a government-wide standard form of identification for all federal employees

If a revenue agent visits you, you can ask to see both forms of identification. 

Red Flags To Be Aware Of

Some red flags that indicate that the person contacting you may be a scammer posing as an IRS agent include:

  • Demanding immediate payment without giving you the chance to appeal the amount
  • Contacting you by text message or social media
  • Asking you to pay by wire transfer or with gift card
  • Threatening to call the police or immigration authorities
  • Threatening to revoke your driver’s license
  • The supposed agent doesn’t inform you about your rights

If you believe that someone is try to impersonate an IRS agent or posing as the IRS, you can report them using the following methods:

Have More Tax Questions? JT Tax Services Is Here To Help!

At JT Tax Services, we give you the peace of mind that comes with knowing that you are limiting your liability while staying compliant with all regulations.

We are located in Oxnard, California.Contact us today by email (info@jttaxservices.com), telephone (805-984-8890), or through our social media accounts on Facebook, Twitter, and LinkedIn to schedule a consultation or to learn more about our services.

Image of man holding credit card and smartphone illustrates blog:"Can You Pay Your Taxes With a Credit Card?"

Can You Pay Your Taxes With a Credit Card?

Paying your taxes doesn’t have to be complicated. In fact, the IRS is constantly looking for ways to make it easier for you to settle your tax bill. But can you pay your taxes with a credit card? Keep reading to find out.

Can You  Pay Your Taxes With a Credit Card?

The short, simple answer is yes, credit card is one of the many methods available when it comes to paying your federal taxes. 

Here’s a handy breakdown of all the options at your disposal:

  • You can also ask your tax preparer to make an electronic funds withdrawal from a bank account.
  • Payments with credit cards are made through payment processors that charge a fee. In some cases, you can make the payment over the phone (visit link for payment processor fees and contact information). 
  • You can even pay your taxes in cash at a participating retail store ! Keep in mind that you’ll have to pay a fee of $3.99 and there’s a $1,000 payment limit per day. 

What To Do if You Can’t Pay Your Taxes

As you can see, there are plenty of options to pay your taxes. All you have to do is to choose the one that works for you.

However, some taxpayers face a more complex problem: they are not able to settle their tax bill. 

If you can’t pay your taxes, don’t worry. The IRS offers alternatives such as online payment plans and installment agreements. What really matters is to contact a tax pro as soon as possible, as failure-to-pay penalties can add up quickly.

Finally, remember that the payment information presented here applies to federal taxes only. State taxes have different deadlines and may utilize different payment methods.

Have Tax Questions? JT Tax Services Is Here To Help!

No matter how you prefer to settle your tax bill, at JT Tax Services, we give you the peace of mind that comes with knowing that you are limiting your liability while staying compliant with all regulations.We are located in Oxnard, California.Contact us today by email (info@jttaxservices.com), telephone (805-984-8890), or through our social media accounts on Facebook, Twitter, and LinkedIn to schedule a consultation or to learn more about our services.

We will be closed Saturday, Sunday and Monday (July 2nd - 4th)
Close