Taxes in SoCal Archives - JT Tax Services

Can Taxes Be Filed After the Official Deadline?

August 11, 2022

In case it passed you by, Tax Day this year was on April 18. If you said “Oops!” after reading that, you’ll be interested in today’s blog: can you file your taxes after the official deadline? Keep reading to find out.

Can Taxes Be Filed After the Official Deadline?

The short and simple answer is yes, you can file your tax return even after the official deadline has passed.

Ideally, you should always file and pay your taxes by the due date. However, even though taxes are a priority for most people, it’s not uncommon to find yourself in a situation when you can’t file on time.

Here are some good reasons to file your taxes even if you missed the original deadline:

Avoid interests and penalties. These can add up fast, so filing and paying even a part of what you owe can make a big difference.
Claim your refund. In addition to giving you peace of mind, filing a past due tax return is als an opportunity to claim a refund
Protect your social security benefits. If you are self-employed and don’t file a federal tax return, any self-employment income will not be reported to the Social Security Administration.
Avoid issues with loans. When you apply for a loan, most financial institutions will require you to provide copies of filed tax returns.

Filing Back Tax Returns

If you didn’t file your taxes on time, seek the assistance of a tax professional to file and pay as soon as possible. This will save you headaches and will limit any failure-to-file and failure-to-pay penalties.

It’s worth keeping in mind that there are no penalties for late filing if you are owed a refund.

As always, remember that all this information refers to federal taxes. Local taxes have different rules and deadlines.

If you need help filing a past due return, contact the IRS or get in touch with JT Tax Services. We’ll be glad to offer assistance and answer all your questions.

Have 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.

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How To Contact the IRS

By: UNIKO Media Group

June 1, 2022

From refunds to tax transcripts, there are many reasons why you may want to contact the IRS. In this post, we talk about how to contact the IRS and give you some tools to make things easier when dealing with some common tax needs.

How To Contact the IRS

How to contact the IRS by phone. If you are a taxpayer with questions about federal taxes, you can get answers at 1-800-829-1040. The help line is open Monday through Friday, from 8:00 am to 8:00 pm local time.

To request a transcript by phone, call 800-908-9946.

For assistance in a language other than English or Spanish, call 833-553-9895.

Make sure to have the following ready when you call the IRS:

Social Security Number (SSN) and birth date
Individual Taxpayer Identification Number (ITIN) if you don’t have a Social Security Number
Filing status (single, married filing jointly, married filing separately, ec.)
Prior-year tax return
Tax return you’re calling about
Any letter you may have received

When to contact the IRS by email. The IRS encourages taxpayers to contact the agency through its electronic tools (see below). Calling by phone is recommended only in certain cases. But in the specific case of phishing emails, the IRS asks taxpayers to report suspicious emails at phishing@irs.gov (make sure to forward the email with full email headers included).

How To Get Information About Your Tax Refund

If you need information about the status of your tax return, you don’t have to call the IRS.

Instead of waiting on the phone, use the online tool Where’s My Refund, which has information for the 2021, 2020, and 2019 tax years.

To open the tool, just click the link provided above and make sure to have the following ready:

Your Social Security number or ITIN
Your filing status
Your exact refund amount

You should call the IRS (again, the number is 1-800-829-1040) only if:

It’s been 21 days or more since you e-filed
It’s been more than 6 weeks since you mailed your paper return
Where’s My Refund says the IRS can provide more information to you over the phone

How To Get a Tax Transcript

We covered this topic in a previous post, but here’s a summary of what you need to know:

You can request an IRS transcript online, but first you’ll need to create an online account here.

Once you have created an account, you can request your transcript here

Alternatively, you can request to get your transcript by mail. All you have to do is to fill out this form.
As a third alternative, you can order your transcript by phone at 800-908-9946

How To Get an EIN

People looking to apply for an Employer Identification Number (EIN) can do it easily without calling the IRS by using this online assistant.

The system operates Monday through Friday, 7:00 am to 10:00 pm Eastern Standard Time.

How to Contact the IRS in Languages Other Than English

The IRS makes it a point to offer information in different languages other than English to help as many taxpayers as possible.

People who need assistance in other languages can get the support of a professional interpreter over the phone.

For assistance in Spanish, call 800-829-1040
For all other languages (including Chinese, Vietnamese, Russian, Farsi, and others), call 833-553-9895

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.

How to Get an IRS Transcript?

By: UNIKO Media Group

May 19, 2022

Do you need an IRS Transcript? Then keep reading! In this article, we answer the most common questions about IRS transcripts, from a basic definition of IRS transcript, to who needs a transcript, and how to get a transcript from the IRS.

What Is an IRS Transcript?

Simply put, an IRS transcript is a record of your previous tax returns that shows different kinds of information, depending on the type of transcript.

There are five types of IRS transcripts:

Tax return transcript. Includes most line items from your original Form 1040 tax return, along with any forms and schedules. Note that it doesn’t include changes made after you filed the original return. This type of transcript is available for the current and three previous tax years.
Tax account transcript. Provides basic information such as filing status, taxable income, and payment types. It shows changes made after you filed your original return. It’s available for the current and nine previous tax years (online) or the current and three previous tax years (by mail).
Record of account transcript. Combines the two previous transcripts into one. It’s available for the current and three previous tax years.
Wage and income transcript. Shows data from forms such as Forms W-2, 1098, 1099, and 5498. It’s available for the current year and nine previous tax years.
Verification of non-filing letter. Shows that the IRS has no record of a processed Form 1040-series tax return as of the date of the request. It’s available for the current year and the three previous tax years.

It’s worth remembering that an IRS transcript isn’t the same as a photocopy of your return. If you need a photocopy, you’ll have to submit Form 4506, Request for Photocopy of Tax Return, and pay a fee of $50 per copy.

Who Needs an IRS Transcript?

The most common use of IRS transcripts is to provide information to lending institutions when you apply for a loan or mortgage.

IRS transcripts are also helpful when it comes to retrieving information you may need to apply for housing assistance or federal programs.

How to Get an IRS Transcript?

The IRS recommends taxpayers to request their transcripts online.

To do this, you’ll have to visit or create your online account here. If you don’t have an existing IRS username, have your photo identification ready.

If you can’t request your transcript online, you can get your tax return or tax account transcript by mail by clicking on this link or by calling the IRS at 800-908-9946.

Have Tax Questions? Contact JT Tax Services

Need help getting a tax transcript? Want to learn more about the tax obligations of businesses? 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.

Can’t File Your Taxes on Time? Here’s What To Do

By: UNIKO Media Group

March 31, 2022

Tax Day, which this year falls on April 18, is just around the corner. Are you ready to file your taxes? If the answer is a panicked “No!” don’t worry: in today’s post we tell you everything you need to know about filing extensions.

What To Do if You Can’t File Your Taxes on Time

We live in a time when things move fast. Get distracted for a minute, and before you know it, Tax Day is less than one month away and you’re not ready to file your tax return.

Sound familiar? Then we have good news for you.

If you can’t file your taxes on time, you can request a filing extension that will give you a whopping six months (that is, until October 17, 2022) to file your return.

Needless to say, this is a great option for those who have fallen behind in preparing their taxes. However, there are a couple of caveats to consider.

What You Need To Know

First off, remember that an extension to file is NOT an extension to pay.

This means that even if you get an extension, you still have to pay your taxes by April 18. To do this, you have to estimate your taxes and make the payment before the due date.

The other important thing to keep in mind is that in order to get an extension, you have to request it no later than the original due date for your return.

One of the easiest ways to request a filing extension is by making an electronic payment to the IRS indicating that it’s for an extension.

If you need help filing your taxes or have questions about filing extensions, don’t hesitate to contact the experts at JT Tax Services.

We’ll be happy to offer the knowledgeable, efficient tax assistance you need.

File Your Taxes With 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.

Are You a Business Owner? Don’t Forget to Correctly Classify Your Workers

By: UNIKO Media Group

September 15, 2021

If you are a business owner, it’s very important that you learn to tell the difference between an employee and an independent contractor. This will help you avoid problems and ensure that your accounting is clear and precise. Keep reading to learn more about this important topic.

Employees or Independent Contractors?

When it comes to classifying your workers for tax purposes, there are two basic options: employees and independent contractors.

To determine whether a worker is an employee or a contractor, you should consider three main factors:

Does the business control, or has the right to control, what the worker does and how they do it?
Does the company control the financial aspects of the worker’s job? (For example, how are they paid, or how are their expenses refunded)
Are there any written contracts or employee-type benefits such as pension plan and vacation pay?

If you answered these questions with“Yes,” then the worker is an employee. By contrast, if the answer is “No,” then the person is an independent contractor.

What Happens if You Misclassify a Worker?

Misclassifying workers adversely affects workers themselves in the first place. For example, if a worker is classified as an independent worker when they are really employees, this means that the employer isn’t retaining and paying income taxes, as well as Social Security and Medicare taxes.

Also, if a company misclassifies a worker without a reasonable basis, then it might be held liable for employment taxes for that worker.

If you have workers whom you are currently treating as contractors, but would like to reclassify as employees for future tax periods, then the Voluntary Classification Settlement Program (VCSP) may interest you.

If you want to learn more about this program or determine whether your company qualifies to participate in it, contact JT Tax Services for more details.

Contact the Experts at JT Tax Services

Do you need help figuring out how to classify your workers or with any other matter related to taxes? JT Tax Services is here to help! 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.