Tax preparer in California Archives

California Storms: IRS Extends Tax Deadline for Victims

January 10, 2023

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:

Colusa	San Diego
El Dorado	San Joaquin
Glenn	San Luis Obispo
Humboldt	San Mateo
Los Angeles	Santa Barbara
Marin	Santa Clara
Mariposa	Santa Cruz
Mendocino	Solano
Merced	Sonoma
Monterey	Stanislaus
Napa	Sutter
Orange	Tehama
Placer	Ventura
Riverside	Yolo
Sacramento	Yuba
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.

Beware of Pandemic-Related Scams!

By: UNIKO Media Group

June 30, 2022

Not even the pandemic can slow down criminals, who never cease to look for ways to lure unsuspecting victims. That’s why in today’s post, we talk about pandemic-related scams and give you tips on how to avoid them.

Pandemic-Related Scams: What You Need To Know

Scammers are experts at taking advantage of confusing situations to rob people of their money or personal information. The pandemic is no exception to this perverse rule. That’s why we encourage you to be on the lookout for the scams described below.

Economic Impact Payments Tax Refund Scams

Scammers use Economic Impact Payments (EIPs) as an excuse to try to trick you into sharing your personal information. Here’s what you need to keep in mind:

The IRS has already issued all Economic Impact Payments. If you didn’t get yours or received less than the full amount, you may be eligible to claim a Recovery Rebate Credit on your 2020 or 2021 tax return.

The IRS will NEVER initiate contact by phone, email, text, or social media, asking you to provide personal information such as your Social Security number.

Fake Employment Offers

The pandemic has caused shifts in the labor market and some people are urgently looking for a job. Scammers take advantage of jobseekers by using social media to persuade them to share their personal information under the guise of a job offer.

Never share your personal information (such as social security number, passwords, or bank accounts) through social media messages.

Among other things, criminals can use your information to file a fraudulent tax return and get a fraudulent refund.

Fake Charities

This is a classic scam, and criminals have been quick to adapt it to the pandemic. If you plan to make charitable donations, be sure to keep the following in mind:

If a person tries to pressure you into making a donation quickly, that’s a huge red flag and one of the hallmarks of a scam.

Before making a donation, ask the person for the exact name of the charity as well as the address of its website. Then verify all those details online.

NEVER, under any circumstances, make a donation using gift cards or by wiring money.

Need Help With Your Taxes? Contact JT Tax Services

At JT Taxes, we have made it our mission to take the stress of tax filing off your hands so you can focus on what matters most to you. We maximize your refund and help you stay compliant with all applicable rules and laws.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 wide array of tax services.

Photo of smiling woman with laptop illustrates blog: "Delayed Refund? You Will Receive 5% Interest After July 1"

Delayed Refund? The IRS Will Pay 5% Interest After July 1

By: UNIKO Media Group

June 16, 2022

If you’re still waiting on your tax refund, we have some good news: the IRS will pay 5% interest to individuals after July 1. Here’s what you need to know.

What You Need to Know

Typically, the IRS has 45 days after the filing deadline (in 2022 it was 2018) to process your tax return and send your refund. After those 45 days, the IRS starts paying interests to taxpayers.

However, there’s something you should keep in mind: Those interests are taxable.

While the IRS does its best to process returns in a timely fashion, some delays are inevitable due to the disruptions caused by the COVID-19 pandemic.

If your return is part of the backlog the IRS is actually experiencing, keep reading — in the next section we explain how to check the status of your refund.

How to Check the Status of Your Refund

Checking the status of your refund is extremely easy thanks to an online tool created by the IRS.

The tool is called Where’s My Refund (just click on the link to open the tool) and you can use it 24 hours after filing your 2021 return or four weeks after mailing a paper return.

Before opening Where’s My Refund, make sure to have the following information ready:

Your Social Security Number (SSN) or ITIN
Your filing status (single, married filing jointly, married filing separately, etc)
Your exact refund amount

Where’s My Refund is updated daily, usually overnight. So if your refund information isn’t available yet, check again the next day.

Need Help With Your Taxes? Contact JT Tax Services

If you need help with your taxes, you’ve come to the right place. At JT Taxes, we have made it our mission to take the stress of tax filing off your hands so you can focus on what matters most to you.

We maximize your refund and help you stay compliant with all applicable rules and laws. 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 wide array of tax services.

Everything You Need to Know About Tax Refunds This 2021

By: UNIKO Media Group

April 1, 2021

If you already filed your tax return, chances are that you are already looking forward to your refund. That’s why today we bring you everything you need to know about tax refunds this 2021, from how to verify the status of your refund to how long could it take for your refund to arrive.

How Can I Verify the Status of My Refund?

Verifying the status of your refund has never been this easy. All you have to do is access the IRS online tool Where’s My Refund? with some basic information on hand:

Your Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN)

The filing status on your tax return (single, married filing jointly, etc.)

The exact amount of your refund

You can start verifying the status of your refund 24 hours after the IRS acknowledges receipt of a return filed electronically or four weeks after mailing a paper return.

How Long Will It Take for My Refund to Arrive?

Generally speaking, refunds are issued within 21 days, but this is far from a hard-and-fast rule. There are some factors that may delay your refund, for example:

A return that includes errors or is incomplete.
A return affected by identity theft or fraud.
Some banks do not process payments on weekends or holidays.

Since it’s not possible to establish with certainty when your refund will arrive, it’s a Good idea to not count on receiving your refund by a certain date, especially if you plan to use that money to make payments.

Some Additional Notes

These are some pointers about tax refunds worth keeping in mind:

Where’s My Refund? is updated once a day, usually overnight, so it’s not necessary to check it more tan once every 254 hours.
Calling the IRS won’t speed up your refund. The information you get by phone is the same as in Where’s My Refund?
Should the IRS need more information to process your return, they will contact you by mail.

Need Help With Your Taxes? Contact the Experts at JT Tax Services

Do you need help filing your 2020 tax return? Do you want to learn more about Economic Impact Payments? 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.

IRS Announces New Relief Options for Taxpayers Impacted by COVID-19

By: UNIKO Media Group

November 6, 2020

The IRS announced this week its Taxpayer Relief Initiative, a series of measures designed to help taxpayers impacted by the COVID-19 pandemic. The provisions include more flexible terms to resolve tax liabilities and make it easier for taxpayers to set up installment agreements.

If you qualify for a short-term payment plan you may now have up to 180 days to resolve your tax liabilities instead of 120.
The IRS may be flexible if you are temporarily unable to meet the terms of an accepted Offer in Compromise.
If you owe less than $250,000 you may be able to set up an installment agreement without providing a financial statement if your monthly payment proposal is sufficient.
Those taxpayers who owe only for the 2019 tax year and owe less than $250,000 may qualify to set up an Installment Agreement without a notice of federal tax lien filed by the IRS.
Qualified taxpayers with existing Direct Debit Installment Agreements may now be able to use the Online Payment Agreement system to propose lower monthly payment amounts and change their payment due dates.

These are other aspects of the Taxpayer Relief Initiative that are worth keeping in mind:

You can request to temporarily delay collection. If the IRS determines that you are unable to pay, it may delay the collection process.
You may settle your tax bill for less than the amount you owe by submitting an Offer in Compromise. To check if you are eligible, use this online tool: Offer in Compromise Pre-Qualifier.
Some taxpayers may get relief from penalties. You may qualify for reasonable cause assistance if you have failure to file, pay, and deposit penalties. Additionally, first-time penalty relief is available if you have never been subject to tax penalties before.

More Tips About Taxes

Learning more about the options available to you as a taxpayer is more important than ever. Check out these previous posts for more useful tax tips:

Contact the Experts at JT Tax Services

Looking for expert, dependable advice on taxes? At JT Tax Services we have the experience, the knowledge, and the drive to assist you. 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, telephone, or through our social media accounts on Facebook, Twitter, and LinkedIn to learn more about our services.