Tax Time Partners

03/29/2022

If you have not already dropped off your work or loaded it to the portal......we will be filing an extension for you. We will estimate if you might need to make a payment with the extension but if you typically get a refund then that's good news. It is still important to get us your work as quickly as possible because maybe, just maybe we can squeeze you in. Please call us at 708-669-7784 to discuss next steps.

01/26/2022

Because of our recent battle with COVID, we are being strict in minimizing in-person appointments. The good news is that we had great success last year with a combination of drop-offs, portal interaction, Zoom sessions, and phone calls. When you have all of your "important tax documents" please call us at 708-669-7784 to discuss how best we can work together this year to complete your taxes. We look forward to catching up with you and maximizing your 2021 refund.

Kim Wochinski is a third generation tax accountant who is proud to be continuing the superior customer service and expert tax work her clients have become accustomed to, now at their convenient Glenview office.

01/13/2022

The IRS just started sending informational tax letters in the mail to parents who received Advanced Child Tax Credit payments in 2021. KEEP THIS LETTER!! Each parent will receive Letter 6419 showing total payments received over what time period. The information in this letter is required to file your 2021 tax return. Bring this letter with you along with your other "Important Tax Documents" for us to begin working with you this tax season.

01/06/2022

Happy New Year!!! As we started to get things ready for this next tax season, we were affected by Covid. So as we follow protocols and get healthy, please know we are trying to stay on top of things so we can hit the ground running when we're are fully back. Stay diligent about this new strain, wash your hands, and wear that stupid mask.

07/28/2021

If you received the new Child Tax Credit automatic payment this past month, we recommend going online to www.irs.gov and cancelling the payment for the remainder of the year. Yes, you will be receiving more credits for your children in 2021, however, most people need this to offset what they owe. If you have 2 children under 18, you will be getting $2000 more in 2021 credits, but if you take the $500/month payment from July-Dec you have less credits applied against taxes owed on your 2021 tax return. This could potentially leave you $1000 short come April.

Pay your taxes. Get your refund status. Find IRS forms and answers to tax questions. We help you understand and meet your federal tax responsibilities.

07/01/2021

It's getting worse not better. If you haven't received your refund, you'll need more patience, unfortunately....

The IRS's shrinking budget - along with new responsibilities like stimulus checks and child tax credit payments - could be delaying your refund.

06/16/2021

The IRS is still woefully short staffed and refunds are taking a looooong time to process for some. If your return needs to be looked at by an actual human, then the IRS says to add 10 weeks to the processing time. You might need an agent to review your return if you had unemployment in 2020, reported a different stimulus check amount then they have on file, had any kind of identity theft event in 2020, or had a large refund. Keep checking your refund status at www.irs.gov to stay on top of it. Unfortunately, we have no crystal ball into processing at the IRS and only have the tools available that you do once we successfully pass it over to them.

Pay your taxes. Get your refund status. Find IRS forms and answers to tax questions. We help you understand and meet your federal tax responsibilities.

06/02/2021

Congratulations to Jerry L. on winning our 2020 client referral prize. Jerry referred two new clients to us this year and when his ticket was pulled from our season of entries, he won ten years of free tax services!!!! Check back with us next tax season to see what great prize you could win for referring your friends and family. We know where our best clients come from and want to reward you for helping us continue to grow. Thank you to everyone for another great tax season!!!!

03/11/2021

There are some things that go back to tax year 2020 in the plan passed yesterday and lots of new programs and changes in 2021. We will be contacting you if we already filed something that will require amending your return for 2020. The good news is that this will mean money back for those who had unemployment benefits in 2020 or owed Premium Tax Credits back for their health insurance. It's all good news.

02/20/2021

Why are we asking everyone for their round 1 and round 2 stimulus check amounts? If, for whatever reason, you did not receive the full amount this past year in either round of payments, you will receive any shortage as part of filing your 2020 tax return. It is not taxable income. This also means that if you did not qualify because of your 2018/2019 income but now your 2020 income is lower, you will receive the appropriate amount in your tax filing. Yay! You can check when and where you received any payments by going to www.irs.gov, follow the Recovery Rebate Credit prompts. This will not show you the amounts you received; you will need to check with your bank for that.

02/11/2021

The IRS (finally) opens officially tomorrow for e-filing. We've already got returns ready to file and are getting more and more in each day as forms are hitting everyone's mailbox in earnest. We are trying to minimize contact this year and be safe about COVID so please call us to figure out the best way to work together -- we have tons of options. Don't forget our FANTASTIC new client referral prize this year -- go to our website for more information www.taxtimepartners.com.