Lagniappe Accounting, Inc.

Lagniappe Accounting, Inc. We specialize in:
Income Tax Preparation, Small Business Accounting, Payroll, Sales Tax, Accounts Payable & Receivable, Personal Bill Pay Services
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Lagniappe Accounting,Inc. Accounting


It’s time you get a little more for your money! la•gniappe (lan’-yap’) n. Chiefly Southern Louisiana & Mississippi 1.Something as a small gift, that is given free or as a bonus. We specialize in:
Income Tax Preparation, Small Business Accounting, Payroll, Sales Tax, Accounts Payable & Receivable, Personal Bill Pay Services

03/13/2026

Losing a spouse is difficult emotionally and financially. Social Security can help during this time. When your spouse passes away, you may be able to get …

03/13/2026

Issue Number: Tax Tip 2026-21

Tax credits and deductions for education

The costs for continuing education can add up quickly and get expensive. There are several tax benefits such as credits and deductions that can help eligible taxpayers reduce these costs. A tax credit reduces the amount a person owes in income taxes dollar-for-dollar. Let’s look at a few of the most common ones.
Education tax credits
There are two tax credits designed to help taxpayers reduce education costs: the American Opportunity Tax Credit and the Lifetime Learning Credit.
The taxpayer can claim one or the other but not both. Taxpayers must complete Form 8863, Education Credits and file it with their federal tax return.
To be eligible for either credit:
• The taxpayer, dependent or a third party paid qualified education expenses for post high school education.
• An eligible student must be enrolled at an eligible educational institution.
• The eligible student is the taxpayer, taxpayer’s spouse or a dependent listed on the tax return.
Key points for AOTC and LLC
The AOTC is:
• Worth a maximum benefit of up to $2,500 per eligible student
• Available only for the first four years at an eligible college or vocational school
• For students pursuing a degree or other recognized education credential
• Partially refundable. People could get up to $1,000 back
The LLC is:
• Worth a maximum benefit of up to $2,000 per tax return, per year
• Available for all years of postsecondary education and for courses to acquire or improve job skills
• Available for an unlimited number of tax years
Education related deductions
Deductions lower the taxable income resulting in lowering the federal income tax obligation.
Student loan interest:
• Taxpayer’s modified adjusted gross income is between $85,000 and $100,000 ($170,000 and $200,000 if filing jointly)
• An eligible student may deduct student loan interest paid during the year on a qualified student loan
• May reduce taxable income up to $2,500
Business deduction for work-related education:
• Eligible self-employed individuals, Armed Forces reservists, certain artists, and certain government officials may be able to deduct the costs of qualifying work-related education as business expenses. Individuals with a disability can deduct impairment expenses related to this education as an itemized deduction.
More information
• IRS Publication 970, Tax Benefits for Education
• Tax benefits for education: Information center
• Compare education credits

02/13/2026

New and enhanced deductions for individuals
There are several new tax deductions that have been introduced for the 2026 filing season. A deduction is an amount subtracted from the taxpayer’s income when filing. Deductions lower the taxable income resulting in lowering the federal income tax obligation.
New deductions for 2026 filing season
• Seniors age 65 and older may be eligible to claim an additional $6,000 deduction
• Tipped workers may be eligible to deduct up to $25,000 for qualified tips
• Individuals may be eligible to deduct up to $12,500 ($25,000 for joint filers) for qualified overtime
• Individuals may deduct up to $10,000 in qualified passenger vehicle loan interest
All new or enhanced deductions are available for both itemizing and non-itemizing taxpayers. Each of these deductions phase out based on income level for individual and joint filers and have specific eligibility requirements. This information can be found on the One, Big, Beautiful Bill provisions page for individuals and workers.
Standard deduction amounts for tax year 2025
The standard deduction is a flat amount based on federal income tax filing status (single, married filing separately, married filing jointly, head of household, or qualifying surviving spouse). The IRS adjusts the standard deduction annually for inflation.
• $15,750 for single or married filing separately
• $31,500 for married couples filing jointly or qualifying surviving spouse
• $23,625 for head of household
Most people take the standard deduction. However, some may not be eligible to take it or if deductible expenses and losses are more than the standard deduction, taxpayers have the option to itemize deductions. Itemized deductions are subject to certain dollar limitations. They can include amounts paid during the taxable year for: state and local income or sales taxes, real property taxes, personal property taxes, mortgage interest, disaster losses, gifts to charities, certain gambling losses, and medical and dental expenses.
Taxpayers are reminded that they need documents to show expenses or losses they want to deduct. Tax software will calculate deductions and enter them in the right forms. Taxpayers who earned less than $89,000 in 2025 can use Free File guided tax software to prepare and electronically file their 2025 federal income tax returns for free. All taxpayers can use Free File Fillable Forms regardless of income level. The IRS Interactive Tax Assistant can help a person decide if they're eligible for many popular tax credits and deductions.
More information
• FAQs for IRS itemized deductions and standard deduction
• Tax topic: Should I itemize?

02/10/2026

Quick tips for picking a tax pro
By now, people should have received most of their tax documents so it’s time to get ready to file their federal tax returns. More than one half of taxpayers use a paid tax professional to help prepare their return. Regardless of who prepares the tax return, the taxpayer is responsible for all the information on it. This is why it’s important to choose a tax pro carefully.

Tips for choosing a tax professional:
• Availability: Choose a preparer that’s available after filing season in case questions come up after filing.
• Service fees: Ask about the preparer’s service fees. Taxpayers should avoid tax return preparers who base their fees on a percentage of the refund.
• IRS e-file: Ensure their preparer offers IRS e-file. The IRS issues most refunds in fewer than 21 days for taxpayers who file electronically and choose direct deposit and file a complete and accurate return.
• Records and receipts: Good preparers ask to see these documents to complete the return accurately.
• Qualifications: Understand the preparer's credentials and qualifications. Check their history for complaints or disciplinary actions.
• Review before signing: Always review the tax return before signing it. Ask questions if something is unclear or appears incorrect. Never sign a blank or incomplete return.
• Accurate account information: Make sure any refund goes directly into the taxpayer's bank account – not into the preparer's bank account. Review the routing and bank account number on the completed return to confirm it's accurate.
By law, anyone who is paid to prepare or assists in preparing federal tax returns must have a valid preparer tax identification number. Paid preparers must sign and include their PTIN on any tax return they prepare. Not signing a return, promising an unusually large refund or charging fees based on the size of the refund are red flags that the preparer may be looking to make a quick profit. Taxpayers should avoid these preparers.

Complaints about a preparer
Tax return preparer fraud is a common tax scam. The IRS provides tips on avoiding unscrupulous tax preparers. Taxpayers can also file a complaint if they’ve been financially harmed by a tax return preparer's misconduct or improper tax preparation practices.

More information
IRS Directory of Federal Tax Return Preparers with Credentials and Select Qualifications

02/04/2026

The Taxpayer Bill of Rights: Providing fundamental protection for all taxpayers
By law, all taxpayers have fundamental rights when they're interacting with the IRS. It's important that all taxpayers know and understand their rights. The Taxpayer Bill of Rights presents these rights in 10 categories.
Here's an overview of these rights. For full official details about each right, click the links below.
The right to be informed
Taxpayers have the right to know what they need to do to comply with the tax laws.

The right to quality service
Taxpayers have the right to receive prompt, courteous and professional assistance when working with the IRS and the freedom to speak to a supervisor about inadequate service.

The right to pay no more than the correct amount of tax
Taxpayers have the right to pay only the amount of tax legally due, including interest and penalties, and to have the IRS apply all tax payments properly.

The right to challenge the IRS's position and be heard
Taxpayers have the right to object to formal IRS actions or proposed actions and provide justification with additional documentation.

The right to appeal an IRS decision in an independent forum
Taxpayers are entitled to a fair and impartial administrative appeal of most IRS decisions, including certain penalties.

The right to finality
Taxpayers have the right to know the maximum amount of time they have to challenge an IRS position and the maximum amount of time the IRS must audit a particular tax year or collect a tax debt.

The right to privacy
Taxpayers have the right to expect that any IRS inquiry, examination or enforcement action will comply with the law and be no more intrusive than necessary.

The right to confidentiality
Taxpayers have the right to expect that their tax information will remain confidential.

The right to retain representation
Taxpayers have the right to retain an authorized representative of their choice to represent them in their interactions with the IRS.

The right to a fair and just tax system
Taxpayers have the right to expect fairness from the tax system. This includes considering all facts and circumstances that might affect their liabilities, ability to pay or provide information timely.
More information
• Publication 1, Your Rights as a Taxpayer
• Taxpayer Advocate Service

02/03/2026

Create an IRS Individual Online Account today for security and convenience
IR-2026-21, Feb. 3, 2026
WASHINGTON – The Internal Revenue Service encourages all taxpayers to create an IRS Individual Online Account to access their tax account information securely online and to help protect against identity theft and fraud.
The IRS Individual Online Account is available to anyone who can verify their identity. Tax professionals can support this effort by encouraging clients to use an IRS Individual Online Account and by using their own Tax Pro Account to complete authorized actions on their clients’ behalf.
With the same convenience as online banking, taxpayers can use the IRS Individual Online Account to:
• View key tax return information, such as their adjusted gross income.
• Request an identity protection PIN and access it throughout the year.
• Check the status of their refund.
• Confirm the status of their amended return.
• Get account transcripts, including wage and income records.
• Approve power of attorney and tax information authorization requests.
• Edit language preferences and request alternative media.
• Receive and view over 200 IRS digital notices.
• Make and cancel payments.
• Set up or modify payment plans and check their balance.
Access tax documents online
In early 2025, the IRS expanded the IRS Individual Online Account to allow taxpayers to view and download certain tax documents, including:
• Form W-2, Wage and Tax Statement.
• Form 1095-A, Health Insurance Marketplace Statement.
• Form 1099-NEC, Nonemployee Compensation.
• Form 1099-DIV, Dividends and Distributions.
• Form 1099-INT, Interest Income.
• Form 1099-MISC, Miscellaneous Information.
A full list of information return documents is available on IRS.gov.
Information return documents are filed and reported by employers, financial institutions, government agencies, and other payers to both the payees and the IRS. These documents provide information that can help taxpayers file their returns. The information is available for tax years 2023, 2024, and 2025 and can be found under the Records and Status tab in the taxpayer’s IRS Individual Online Account.
For more information, visit IRS Online Account for Individuals – Frequently Asked Questions on IRS.gov.

02/03/2026

Earned Income Tax Credit: A valuable credit that supports millions of families
The Earned Income Tax Credit helps communities by supporting hard working low to moderate income families. The EITC helps millions of eligible workers and families each year by reducing the amount of taxes owed and possibly increasing a refund.
It’s estimated that about one in five taxpayers who are eligible for EITC don’t claim this valuable credit. The average EITC amount received nationwide for tax year 2024 was $2,916.
Who qualifies
Several factors such as income, family size and filing status affect the EITC credit. In general, to be eligible the taxpayer must meet the following criteria:
• Have earned income from working for someone or working themselves. Certain disability income may qualify, as well
Income level is low to moderate
• A valid social security number by the due date of the return
• Be a U.S. citizen or resident alien all year
Military and clergy have special qualifying EITC rules, because using this credit could affect other government benefits.
The IRS EITC Assistant can help taxpayers with seeing if they qualify for the credit.
Timeline for EITC refunds
If the return was filed online, the taxpayer chose to receive their refund by direct deposit and there are no issues with the return, it’s anticipated that most refunds would be received by March 2, 2026.
By law, the IRS must wait until at least Feb. 21, 2026, to issue refunds to taxpayers who claim the Earned Income Tax Credit. Taxpayers can check Where’s My Refund for their personalized refund date.
More information
• Publication 596, Earned Income Credit (EIC)
• EITC central has tools and information for IRS partners, community organizations, employers, government agencies and offices and tax preparers

01/28/2026

Reminders for taxpayers about digital assets
Taxpayers are starting to receive their 2025 tax documents, such as W-2s, Forms 1099 or other income documents. People who sold or disposed of digital assets using a broker might receive a new Form 1099-DA from those brokers.
Examples of digital assets include
• Convertible virtual currencies and cryptocurrencies such as Bitcoin
• Stablecoins
• Nonfungible tokens
Brokers must send taxpayers a copy of the same information they report to the IRS on Form 1099-DA by Feb. 17,2026. These are different from some other tax statements taxpayers may receive. Most of these statements will not include the basis for DA transactions in 2025 and taxpayers will have to calculate basis to determine their gain or loss.
Every taxpayer must report any related income, gains, or losses, whether they receive a Form 1099-DA or not.
Also, when people file their taxes, they must answer “yes” or “no” to the digital asset question whether they have digital assets or not. Taxpayers can use this questionnaire to help determine how to answer the digital assets question.
More information
• Digital assets
• Understanding your Form 1099-DA
• Instructions for Form 1099-DA, Digital asset proceeds from broker transactions PDF
• Frequently asked questions on digital asset transactions

01/26/2026

One, Big, Beautiful Bill: How to take advantage of no tax on tips and overtime
The One, Big, Beautiful Bill has a significant effect on federal taxes, credits and deductions. Millions of taxpayers reported earning tips and overtime on their tax returns, many of them are veterans and people working in lower wage jobs. This relief will impact most of these taxpayers and they can start taking advantage of the deduction this filing season.
No tax on tips
Employees and self-employed individuals may deduct qualified tips received in certain qualified occupations, such as wait staff, bartenders, salon workers, personal trainers, gig economy workers, and many more who customarily and regularly receive tips might qualify.
Even better, tips earned on or before December 31, 2024, and are reported on a Form W-2, Form 1099, or other statement furnished to the individual or reported directly by the individual on Form 4137 can be deducted.
• “Qualified tips” are voluntary cash or charged tips received from customers or through tip sharing
• Maximum annual deduction is $25,000; for self-employed, deduction may not exceed individual’s net income, without regard to this deduction, from the trade or business in which the tips were earned
• The deduction phases out for taxpayers with modified adjusted gross income over $150,000 ($300,000 for joint filers)
To see examples of how “no tax on tips” is calculated, taxpayers should review this news release.
No Tax on Overtime
Individuals who receive qualified overtime compensation may deduct the pay that exceeds their regular rate of pay, generally, the “half” portion of “time-and-a-half” compensation, that’s required by the Fair Labor Standards Act and reported on a Form W-2, Form 1099, or other specified statement furnished to the individual.
• Maximum annual deduction is $12,500 ($25,000 for joint filers)
• Deduction phases out for taxpayers with modified adjusted gross income over $150,000 ($300,000 for joint filers)
• The deduction is available for both itemizing and non-itemizing taxpayers

More information
• Frequently asked questions about the new deduction for qualified overtime compensation

12/15/2025

What taxpayers can do to Get Ready for the 2026 tax filing season
The new year is less than a month away which means the 2026 tax filing season is drawing near. The IRS encourages taxpayers to “Get Ready” and start preparing now. Taking a few steps today can save time and help taxpayers ensure they’re filing accurate returns in the coming months.
The annual IRS Get Ready campaign is a series of tips, reminders and new information for taxpayers on what they need to know in preparation for filing season. For example, the One, Big, Beautiful Bill brings several changes or additions that can significantly affect federal taxes, credits and deductions. Tax deductions for tips, overtime, car loan interest and seniors are just a few of many recent updates.
Here’s some of the things taxpayers can do now:
Access or login to an existing IRS online account
An IRS online account allows taxpayers to access personal tax information, including recently filed returns, securely. Through this tool, taxpayers can:
• View tax records, including adjusted gross income and transcripts
• Make, schedule and view payments
• Get or view their Identity Protection PIN
• Authorize a tax professional to access their tax records digitally
• Access available Forms W-2 and certain 1099s
• View and edit communication preferences from the IRS and alternative media such as Braille, large print and more
• Receive and view over 200 IRS digital notices.
• Set up or change payment plans and check their balance
Gather and organize tax records
Having organized tax records helps taxpayers file complete and accurate tax returns and avoid errors that could delay refunds. This may also help the taxpayer identify deductions or credits that may have been overlooked.
Most income is taxable, including unemployment compensation, refund interest and income from the gig economy and digital assets. Taxpayers should watch for and gather essential forms, such as Forms W-2, Wage and Tax Statement and other income documents, when they become available in 2026.
More information
• It’s not too early to get ready for the 2026 tax season
• How to file your taxes: Step by step
• Get your refund faster: Tell IRS to direct deposit your refund to one, two, or three accounts

Address

11701 Magnolia Street
Garden Grove, CA
92841

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Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

Telephone

+17145302138

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