Hilgerson Tax Service

Hilgerson Tax Service Accounting/Bookkeeping Services only
No tax preparation

02/28/2024

IR-2024-53: Tax Time Guide: IRS enhances ‘Where’s My Refund?’ tool for 2024 filing season Internal Revenue Service (IRS) sent this bulletin at 02/28/2024 10:05 AM EST News Essentials The Newsroom Topics IRS Resources Issue Number: IR-2024-53 Inside This Issuey Tax Time Guide: IRS enhances ‘W...

We've Moved! The office is now located at 210 Main St in Elgin, IA. The phone number is still 563-387-8203. Please remem...
12/29/2023

We've Moved! The office is now located at 210 Main St in Elgin, IA.
The phone number is still 563-387-8203. Please remember this number does not accept text messages. Look forward to seeing everyone soon!

Filing season for Tax Year 2022 has begun! The final day to file your tax return this year is April 18th.
01/26/2023

Filing season for Tax Year 2022 has begun! The final day to file your tax return this year is April 18th.

06/20/2022

Two standard mileage rates for 2022....

Starting July 1st, the IRS is increasing the standard mileage rate. This means for 2022, you will need to keep track of all mileage for January-June and for July-December. The initial rate was 58.5 cents a mile and starting July 1st it will be 62.5 cents a mile.

I will need to have your mileage broken down into these two categories at tax time.

02/16/2022

Tax Tip 2022-26: Check the status of a refund in just a few clicks using the Where’s My Refund tool Internal Revenue Service (IRS) sent this bulletin at 02/16/2022 10:25 AM EST IRS Tax Tips February 16, 2022 Useful Links: IRS.gov Help For Hurricane Victims News Essentials What's Hot News Releases ...

01/24/2022

2021 Tax Filing Season

IRS tips for a smooth filing season:
Fastest refunds by e-filing, avoiding paper returns: Filing electronically with direct deposit and avoiding a paper tax return is more important than ever this year to avoid refund delays. If you need a tax refund quickly, do not file on paper – use software, a trusted tax professional or Free File on IRS.gov.

Avoid delays; file an accurate tax return: More than ever this year, the IRS urges people to make sure they’re ready to file an accurate tax return. An accurate tax return can avoid processing delays, extensive refund delays and later IRS notices.

Special care for EIP, advance Child Tax Credit recipients: The IRS also encourages caution to those people who received a third Economic Impact Payment or advance Child Tax Credit in 2021. Taxpayers should ensure the amounts they’ve received are entered correctly on the tax return. Incorrect entries when reporting these payments mean the IRS will need to further review the tax return, creating an extensive delay. To help taxpayers, the IRS is mailing special letters about the stimulus payments and advance Child Tax Credit payment amounts. People can also check the amount of their payments in their Online Account available on IRS.gov.

Earned Income Tax Credit or Additional Child Tax Credit refunds: By law, the IRS cannot issue a refund involving the Earned Income Tax Credit or Additional Child Tax Credit before mid-February, though eligible people may file their returns beginning on January 24. The law provides this additional time to help the IRS stop fraudulent refunds from being issued.

Avoid phone delays; online resources best option for help: IRS.gov is the quickest and easiest option for help. IRS assisted phone lines continue to receive record numbers of calls, more than the agency can handle with its limited resources. Avoid delays: Check IRS.gov first for refund information and answers to tax questions. Establishing an Online Account on IRS.gov can also help taxpayers get information quickly. The Online Account feature has recently been expanded to allow more people to gain access.

Don’t normally file a return? Consider filing for CTC, other valuable credits: For people who don’t normally file a tax return and didn’t file a 2020 return or use the Non-Filers tool, they can still qualify for important credits they’re eligible for, including the Recovery Rebate Credit (stimulus payment), advance Child Tax Credit or the Earned Income Tax Credit. The IRS encourages people in this group to file a 2021 tax return so they can receive all the credits for which they’re eligible.

Online options for free help; answers to common questions: Use IRS.gov to get answers to tax questions, check a refund status or pay taxes. There’s no wait time or appointment needed — online tools and resources are available 24 hours a day.

Keep these letters...they are needed for your tax return!!
01/05/2022

Keep these letters...they are needed for your tax return!!

COVID Tax Tip 2022-03: IRS sending information letters to recipients of advance child tax credit payments and third Economic Impact Payments Internal Revenue Service (IRS) sent this bulletin at 01/05/2022 09:02 AM EST IRS Tax Tips January 5, 2022 Useful Links: IRS.gov Help For Hurricane Victims News...

08/16/2021

Advance Child Tax Credit Payments
In January 2022, the IRS will send you Letter 6419 to provide the total amount of advance Child Tax Credit payments that were disbursed to you during 2021. Please keep this letter regarding your advance Child Tax Credit payments with your tax records. You may need to refer to this letter when you file your 2021 tax return during the 2022 tax filing season.

If you receive a total amount of advance Child Tax Credit payments that exceeds the amount of Child Tax Credit that you can properly claim on your 2021 tax year, you may need to repay to the IRS some or all of that excess payment.

Advance Child Tax Credit-how to unenrollIf you would like to NOT receive the advance child tax credit, you will need to ...
06/30/2021

Advance Child Tax Credit-how to unenroll

If you would like to NOT receive the advance child tax credit, you will need to unenroll from it. There are two options to create an account so that you can unenroll: 1. Create an account through ID.me 2. Create an account through the IRS.

1. Create an account with ID.me. This is a process that takes quite a bit of time and most likely will end up with you needing to do a video call with a representative to verify your identity through ID.me. You will also need to have your driver’s license, Social Security Card, Birth Certificate, and other forms of ID to complete the process. They ask that you upload pictures of these documents, so you will need to make sure you are doing this on a smart phone or on a computer with a we**am. I will tell you, I chose to unenroll through this process and it took me an hour and a half to verify my ID. Once my ID was verified, then the process to unenroll was very simple. Here is a link to the IRS website to start the process of unenrolling through ID.me: https://www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021

2. You can also choose to create an account with the IRS and then unenroll by using that login information. To do this, please follow this link: https://www.irs.gov/payments/view-your-tax-account
I have found that this process is somewhat easier.

Married Couples: You and your spouse need to both unenroll from receiving the advance child tax credit. Which means, each of you will have to create an account with ID.me or the IRS and verify your identity and then unenroll from the advance child tax credit. If only one of you unenrolls, then you will still receive half of the advance starting in July.

If you choose to not unenroll and are worried about what will happen at tax time, I would suggest that you take 2 or 3 of the payments and put them aside to use in case you need to pay in.

I wish this process was easier, but unfortunately it is not.

Get instructions on viewing your tax account information online. Review the amount you owe, balance for each tax year and payment history.

05/17/2021

IRS begins correcting tax returns for unemployment compensation income exclusion; periodic payments to be made May through Summer

The IRS will send taxpayers a notice explaining the corrections, which they should expect within thirty days of when the correction is made. Taxpayers should keep any notices they receive for their records. Taxpayers should review their return after receiving their IRS notice(s).

Address

210 Main Street
Elgin, IA
52141

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Monday 9am - 12pm
1pm - 3pm

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