Gatison Enterprises

02/12/2024

Refund advances available.

Call to schedule an appointment.

02/11/2023

More is not always better.

It is very important to ONLY write off your true expenses.

Dm us with any questions you may have.

02/11/2023

IRS Issues Important News Regarding State Tax Payments

The Internal Revenue Service has issued guidance clarifying the federal tax status involving special payments made by 21 states in 2022. The IRS has determined that taxpayers in many states will not need to report these payments on their 2022 tax returns. See IRS News Release IR-2023-23 for complete details resolving this unique situation.

01/31/2022

I can’t stress it enough.. PLEASE provide your tax professional with all documents.

🔑 Something simple as a 1095-A (market place insurance form) can have your return rejected by the IRS.

Some software companies will say it’s a glitch. In actuality the form is missing and the market place has already informed the IRS what to look for.

🔑 Please make sure your tax professional signs you up for audit protection. Most companies offer it.

Roseheather “Latrice” Gatison
📲 404.995.6935
📞 770.543.9026
📧 [email protected]
💻 gatisonenterprises.com

01/11/2022

Have you registered for id.me with the IRS??

Find out out much you owe and what forms where mailed to you.

ID.me simplifies how individuals share and prove their identity online. ID.me's next generation platform facilitates identity proofing, authentication, and group affiliation verification for over 500 organizations.

01/05/2022

ADVANCES STARTING THIS FRIDAY‼️

If approved you can get up to $6k

Schedule an appointment at Gatisonenterprises.com

12/23/2021

📌 What you need to know about the ACTC Letter 6419:

📌 Helps taxpayers reconcile and receive all entitled CTC payments.

📌 The letters will begin to mail in late December and continue into January.

📌 The letter includes the total ACTC payments received in 2021 and the number of qualifying children.

📌 Use this letter to help you compare the ACTC payments received with the amount that can be properly claimed.

📌 Taxpayers can also check the amount of their payments by using the CTC Update Portal available on the IRS website.

📌 What you need to know about EIP Payment #3, Letter 6475:
It only applies to taxpayers that received the third round of EIP.

📌 Third round of Economic Impact Payments started in March 2021 and continued through December 2021.

📌 Use the letter to help determine if EIP 3 recipients are entitled to or should claim the Recovery.

📌 Rebate Credit on tax year 2021 tax returns that will be filed in 2022.

🔐 Letter mailing will begin in late January.

12/17/2021

Monthly child tax credit, which helped cut child poverty, close to lapsing.

Click the link

The future of monthly $250-$300-per-child payments to eligible families is uncertain.

11/11/2021

News you can use.

The Internal Revenue Service has announced that the income thresholds for tax brackets will be higher in 2020 because of the pace of inflation.

03/25/2021

Industry Update
American Relief Act and EIP 3
March 22, 2021
EIP 3 Payments:
Treasury successfully processed 90 million payments this past week using direct deposit for the stimulus (EIP 3) payments representing about $242 billion. In addition, they did send out approximately 150 thousand checks for $442 million for EIP recipients.

The next round of EIP 3 for this coming week will be about 30 million payments. The IRS expects to continue to send out payments weekly until they cover everyone in which they have information.

Other Elements of the Relief Act that impacts the Tax Preparation community:

There were also a number of tax law changes in that bill that impact taxpayer not only for next year but also this current filing season.

Unemployment Compensation Exemption
The act makes the first $10,200 in unemployment benefits tax-free for 2020 tax returns in this current filing season. This retroactive benefit is intended for each person with incomes less that $150,000.

The IRS will be providing guidance soon on how to handle this feature on not only already filed returns, but also for 2020 returns you are preparing now and in the future. Look out for news from IRS very soon on this topic.

Child Tax Care Credits Increased
The act also increased the amount of the tax credit for 2021 tax returns for next tax season, to $3000 per child, as well as liberalizing some of the rules on the existing credit. One of the features in the act was to instruct the IRS to make prorated payments of this new credit to those qualifying starting later in 2020.

The IRS will provide guidance on this feature later in the year as well as instruction on options and tools to opt out of the prepayment feature.

Stay tuned for more details of the new tax law changes.

03/11/2021

Pending Legislation

The president is expected to sign a bill this week which will provide relief for the continued impact of COVID-19. The American Rescue Plan Act of 2021 extends unemployment benefits, provides funding for state and local governments, supports vaccine rollouts, expands the child tax credit, makes a portion of unemployment compensation nontaxable for certain filers, and gives many Americans an additional Economic Impact Payment.

There are a couple of items in the bill that will affect 2020 tax returns, including the tax waiver for unemployment compensation up to $10,200 for many taxpayers and elimination of repayment of the Advance Premium Tax Credit. We realize you may have a lot of questions regarding the ex*****on of the provisions and we want to assure you that Drake Software is working closely with the IRS and state taxing authorities as they update their forms, instructions and systems to accommodate the changes.
As we learn more, we will keep you informed on related software updates.

02/11/2021

Now accepting New Customers:

Self Employed
W2
1099G (unemployment)
And more...

✅ Fact:
Please provide tax professional with a copy of your previous years return. Your AGI from the previous year will be considered in hopes of increasing your return.

Transfer documents via our secured website:

Www.gatisonenterprises.com
Or text 770.543.9026 to schedule an appointment

Gatison Enterprises Tax & Financial Services Virtual Tax Worldwide Preparation and Financial Services Schedule an Appointment Share Documents  Tax Preparation  PAYROLL  Bookkeeping About Gatison Enterprises Virtual Tax Preparation Worldwide At Gatison Enterprises, we believe in the value of...