Happy New Year from McKillips Tax Service!
It is that time to start thinking about getting your taxes prepared, and we hope to work with you again this year. Last year we did not take any appointments; we utilized drop offs, portal (electronic) transmissions, mail-ins, and faxes. It worked out very well and we would love to continue with that format. There is no need to make an appointment to drop off your tax information. If we are open, you can come in and drop off. Or use the drop box on the front porch anytime.
The IRS has announced that they are already running behind from last year. They recommend using e-file instead of mailing in your return and getting direct deposit for refunds. We electronically send in tax returns and it’s very easy to set up direct deposit for refunds. Filing early is always a good idea to get it done and out of the way.
New this year, the IRS sent out Advanced Child Tax Credits to those who claim dependents. From July to Dec, those people received an advance portion of their Child Tax Credits from their tax return. Around January 19th the IRS will send out letters with amounts you received. We will need those letters to complete your taxes. If you did not receive it, you can go to the IRS website to create an account where you will be able to find the information. (https://www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021)
Along those lines, the vast majority of people received a third stimulus check from the government in March of 2021 because of the pandemic. The IRS is sending out a separate letter with this info so please bring that with your tax information for us. If you do not receive the letter, please come prepared to tell us the amount that you received. Putting the incorrect amount on your tax forms will greatly delay your refund.
As of now, unemployment is being taxed this year.
For last year’s clients: If you would like to have us send you an organizer with last year’s figures to help you get your information together for this tax year, feel free to give us a call to request it. Also, let us know of any changes. For example, new dependent, marriage, death, etc. If we didn’t do your taxes last year, we will need a copy of your last years return if you haven’t already provided it to us.
Masks are not required while in our office, however, if you would like to wear yours, feel free to do so.
The IRS will begin accepting returns on January 27th. Our office will open for the season on January 12th. Our hours will be Monday through Thursday 9-5, and Friday and Saturday 9-3. We are closed the first Friday of each month for housecalls.
We look forward to seeing you and having a great tax season!
Joan and Erin