Pell Tax Service

03/20/2020

2019 Tax Season Filing Deadline is now 7/15/2020.


Treasury Secretary Steven Mnuchin has announced that the tax filing deadline will now also be moved from April 15 to July 15. All taxpayers and businesses will have additional time to file and make payments without interest and penalties.

01/27/2020

Thanks to my GREAT clients -- PELL TAX SERVICE has expanded into a new office!!! The NEW office is located at 704 Union Road. New Telephone Number 704-865-1072.

01/20/2019

01/17/2019

THE NINE BIGGEST CHANGES FOR THIS YEAR'S TAX FILINGS INCLUDE:

- Larger standard deductions for married couples of
$24,000. Single Filers $12,000.00

- Personal exemptions are eliminated and there is no need
to file for these.

- A new 37% top tax bracket for high earners, (taxable
income above 612,000.00) The Obama
taxes will remain including the 3.8% Net Investment
Income Tax and the 0.9% medical surtax on high
earners.

- Estate tax exemption is boosted to $11.2 million for an
individual and $22.4 million for a married couple.

- Child tax credit is increased to $2,000 per qualifying child.

- State and local tax deduction or SALT tax deduction
limited to $10,000.

- Mortgage interest deductions can only be taken on
mortgage debt up to $750,000, down from $1 million. This
applies to mortgages taken out after Dec. 15, 2017.

- Interest on home equity debt can no longer be deducted.

- For charitable deductions, taxpayers can deduct
donations of as much as 60% of their income, up from a
50% cap.

01/06/2016

The Internal Revenue Service is warning consumers about a sophisticated phone scam targeting taxpayers.

Victims are told they owe money to the IRS and it must be paid promptly with a debit card or wire transfer. If the victim refuses to cooperate, they are then threatened with arrest, suspension of a business or driver’s license. In many cases, the caller becomes hostile and insulting.

This scam has hit taxpayers in nearly every state in the country. Rest assured, the IRS does not and will not ask for credit card numbers over the phone, nor request a debit card or wire transfer. If someone unexpectedly calls claiming to be from the IRS and threatens police arrest or license revocation if you don’t pay immediately, it really isn’t the IRS calling. The first IRS contact with taxpayers on a tax issue will occur via mail.

12/06/2013

The North Carolina General Assembly recently enacted the Tax Simplification and Reduction Act which becomes effective for taxable years beginning on or after January 1, 2014. Under this new law, all taxpayers will pay a lower rate and be granted a higher standard deduction. Taxpayers may no longer claim a personal exemption for themselves, their spouse, children, or any other qualifying dependents. Additionally, many deductions and tax credits that impact North Carolina withholding tax are no longer available for tax years beginning on or after January 1.

As a result of this Act, every employee must provide a new Employee’s Withholding Allowance Certificate, either Form NC-4 EZ or Form NC-4 to their employer.

NEED HELP WITH THIS?????? Call me at 704-865-1051 or 704-860-3216

06/06/2013

Did you know, Most people spend more time planning their summer vacation than they spend planning for their retirement!

03/12/2013

Its that time again! The Gaston Gazette has started The Best of Gaston 2013. PELL TAX SERVICE has been nominated again this year. Please register and vote!!!!! Your vote and business is very much appreciated. Chris

https://www.readerschoicecontest.com/contestid/30

01/16/2013

Administrative Assistant position open!!!! Send resume to
[email protected]