Generally, the IRS will not extend that due date of your return for more than 6 months. This means your return must be filed by October 15 each year. There may be an exception if you are living out of the country.
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We can act as the intermediary between you and the IRS. We can arrange to have any meetings with the IRS take place at our office and are available to explain your return to the auditor. Our regular fees apply for these services.
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For individual tax returns, we provide you with a tax organizer that provides a format for you to compile the information that will be necessary to prepare your return. Thorough completion of this organizer results in a more complete return and faster tax preparation.
For business tax returns, we prefer that you maintain your accounting records using a computerized accounting program. However, we have worked with materials in almost every imaginable form.
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Generally within 2-3 weeks, if you e-file and use direct deposit service.
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No. The 3 year or 6 year statute of limitations in certain cases, starts tolling once a return is filed. If no return is filed the running of the statute never starts and the IRS can asses taxes for ALL years not filed. Remember, it’s always better to file overdue tax returns BEFORE the IRS comes knocking at your door.
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Generally 3 years, if there is underreporting of gross income exceeding 25% the statute of limitations is extended to 6 years. If no return is filed or the return is fraudulent, the statute NEVER runs out!
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As a condition of your agreement, any refund due you in a future year will be applied against the amount you owe.
- Continue making your installment agreement payments as scheduled because your refund is not considered as a substitute for your regular payment due.
- You may not get all of your refund if you owe certain past-due amounts, such as federal tax, state tax, a student loan, or child support.
- IRS will automatically apply the refund to the taxes owed.
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Age is a factor in the qualifying child test, but a qualifying relative can be any age. As long as the following dependency exemption tests are met, you may claim him or her:
- Qualifying child or qualifying relative test
- Dependent taxpayer test
- Citizenship or resident test
- Joint return test
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If you owed additional tax for the prior tax year, you may have to make estimated tax payments for the current tax year. You must make estimated tax payments for the current tax year if both of the following apply:
- You expect to owe at least $1,000 in tax for the current tax year, after subtracting your withholding and credits.
- You expect your withholding and credits to be less than the smaller of:
- 90% of the tax to be shown on your current year’s tax return, or
- 100% of the tax shown on your prior year’s tax return. (Your prior year tax return must cover all 12 months.)
There are special rules for:
- Certain taxpayers with higher adjusted gross income
- Farmers and commercial fishermen
- Aliens
- Estates and Trusts
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