Anderson & Associates

Anderson & Associates

Income tax preparation and bookkeeping Duri ng tax season we have extended hou rs. If you need a later appointme nt, call and we can work wi th you.

Operating as usual

Don’t click on that random te xt. It’s a scam 08/08/2022

Don’t click on that random te xt. It’s a scam

Don’t click on that random te xt. It’s a scam The .gov means it’s official. Feder al government websites often end in .g ov or .mil. Before sharing sensitive informati on, make sure you’re on a feder al government site.

08/08/2022

The CHS Classroom Grant application is n ow available! 🤩
CHS Inc provides $500 gran ts each year to pre-kindergarten-12th grade teache rs who have classroom projects that u se agricultural concepts to teach reading, writi ng, math, science, social studies and mo re.

➡Learn more and apply by visiti ng our website: https://agclassroom.org/teacher/grants/

➡ Deadline to app ly: September 15

Timeline photos 08/08/2022

Recognizing Scams: The IRS Does N OT Contact Taxpayers in These Ways

Scammers oft en claim to represent the IRS in ord er to steal Americans' identities or mon ey. You can better protect yourself by learni ng how to distinguish legitimate IRS communicatio ns from fraudulent messages or calls. As a starti ng point, it is important to kn ow that there are some types of messag es that the IRS never sends.

With t he exception of verification codes for secu re online account login, the IRS do es not contact people or businesses abo ut tax issues via text or S MS messages. The IRS also does n ot send messages to taxpayers through soci al media platforms or chat services.

While t he IRS may communicate with a taxpay er via email, the messages will n ot ask the taxpayer to provide person al or financial information by replying or clicki ng on a link. All official I RS emails will originate from an addre ss ending in irs.gov. If you a re not 100% certain that an ema il claiming to be from the I RS is legitimate, do not reply a nd do not click any links in t he message. Instead, delete the message a nd call the IRS directly for mo re information.

Timeline photos 08/01/2022

Summer Income Tax Reminder - D id You Know? (2/2)

Americans of all ag es with summer income from self-employment m ay need to pay estimated tax on a quarter ly basis in order to avoid I RS penalties. Alternatively, if you have self-employme nt earnings but also work as an employ ee, the IRS Withholding Estimator tool (li nk below) can help you determine t he correct withholding amount to cover yo ur income and self-employment tax responsibilities.

You m ay also qualify to reduce your t ax by deducting business expenses. A t ax professional can help you comply wi th record keeping requirements, and fully prepa re for any tax implications of yo ur summer endeavors.

IRS Withholding Estimator: https://www.irs.gov/individuals/tax-withholding-estimator

Timeline photos 07/27/2022

Summer Income Tax Reminder - D id You Know? (1/2)

Students and other you ng people who earn summer income, includi ng gig economy and other self-employment inco me, should prepare now for potential feder al tax obligations.

In particular, minors a nd young adults with self-employment earnings (includi ng gig economy income) of at lea st $400 must file a federal t ax return and may owe self-employment t ax in addition to federal income t ax.

Timeline photos 07/18/2022

$600 1099-K Threshold FAQs (3/3)

Here is an answ er to one of the most comm on questions about the new over $6 00 1099-K rule.

Why have I never gott en 1099-K forms from payment processors before?

Pri or to tax year 2022, the I RS only required third-party payment processors to fi le Form 1099-K for individuals and business es that received over $20,000 in gro ss payments in a year. As a resu lt of the dramatic lowering of th is threshold, many people who have nev er received a 1099-K form will g et one for 2022.

Timeline photos 07/11/2022

$600 1099-K Threshold FAQs (2/3)

Here is an answ er to another one of the mo st common questions about this new ov er $600 1099-K rule.

When will I recei ve a 1099-K form if my paymen ts exceed the threshold?

Third-party payment processors mu st file 1099-K forms to report 2022 paymen ts by January 31, 2023. Therefore, y ou should receive the form in la te January or early February.

07/09/2022

Keenland Farms is proud to sha re that Remington and Sierra Keen a re opening Papi’s Shave Ice in t he city of Demopolis.

Papi’s Shave I ce is scheduled to open the we ek of July 18th. It will be locat ed in front of the old Piz za Hut. It will be open throu gh the end of September and mo ve to Keenland Farms for the durati on of the pumpkin patch.

Make pla ns to come support them and g et the ❄️COOLEST❄️ treat in town.

07/06/2022

Jami Cross

Timeline photos 07/05/2022

$600 1099-K Threshold FAQs (1/3)

Here is an answ er to one of the most comm on questions about this new over $6 00 1099-K rule.

Do payments from friends a nd families (splitting a check, gifts, et c.) count toward the form 1099-K fili ng threshold?

No, only payments for goods a nd services count toward the $600 lim it. If you receive a Form 1099 -K from a payment processor that includ es non-business payments like gifts or settli ng up with friends, contact the process or and ask for a corrected fo rm before you file your tax retu rn. To help prevent this issue, remi nd friends and family to check t he “Sending money to friends and famil y” option when sending payments.

Timeline photos 06/28/2022

Lower $600 1099-K Filing Threshold f or Payment Processors – Did You Know?

A
new IRS rule may affect millio ns of taxpayers who receive payments throu gh third-party processors like PayPal, Venmo, Zel le and Square. The rule applies to paymen ts for goods and services, including paymen ts for independent contract, freelance and g ig economy work.

Beginning in 2022, the annu al threshold for filing a 1099-K fo rm is $600 in gross payments f or goods and services, with no minim um number of transactions. Payment processors mu st submit the form to the I RS and provide a copy to t he recipient of the payments.

In most cas es, you must report payments shown on a Fo rm 1099-K as income on your t ax return. Note that the form sho ws gross payment amounts, which may inclu de processing fees. You generally must repo rt the gross amount on your retu rn, but you may be able to dedu ct processing fees and other charges as busine ss expenses. A tax professional can he lp you properly figure your gross inco me and any deductions you are entitl ed to claim.

06/24/2022
Timeline photos 06/24/2022

Timeline photos

IRS Enhances “Where's My Refund” To ol – Did You Know?

The IRS h as added a new feature to t he “Where's My Refund?” tool, available onli ne (link below) and in the IRS2 Go mobile app. Previously, you could on ly use the tool to check yo ur refund status for your most recent ly filed return, and only if th at return covered one of the la st two tax years. However, the to ol can now provide information on refun ds from any of the last thr ee tax years (2019, 2020 and 2021).

To use the tool, you will ne ed your filing status, taxpayer ID numb er (SSN or ITIN) and expected refu nd amount for that tax year.

IRS Where 's My Refund? Tool: https://www.irs.gov/refunds

06/24/2022

The office will be closed Mond ay the 27th and Tuesday the 28 th. Will reopen Wednesday the 29th at 9 am

Timeline photos 06/21/2022

IRS Enhances “Where's My Refund” To ol – Did You Know?

The IRS h as added a new feature to t he “Where's My Refund?” tool, available onli ne (link below) and in the IRS2 Go mobile app. Previously, you could on ly use the tool to check yo ur refund status for your most recent ly filed return, and only if th at return covered one of the la st two tax years. However, the to ol can now provide information on refun ds from any of the last thr ee tax years (2019, 2020 and 2021).

To use the tool, you will ne ed your filing status, taxpayer ID numb er (SSN or ITIN) and expected refu nd amount for that tax year.

IRS Where 's My Refund? Tool: https://www.irs.gov/refunds

Timeline photos 06/13/2022

IRS Raises Standard Mileage Rate f or Second Half of 2022 – D id You Know?

In recognition of the rece nt rise in gas prices, the I RS has announced an increase to t he optional standard mileage rate for t he second half of 2022. For Janua ry 1 through June 30 of th is year, the rate is set at 58.5 cen ts per mile. The rate will th en rise to 62.5 cents per mi le for the period from July 1 throu gh December 31.

Note that the standard ra te of 14 cents per mile f or eligible charitable activities will not chan ge.

Timeline photos 06/06/2022

Quarterly Estimated Tax Payments & Overse as Filing Deadlines - Reminder

If you a re making quarterly estimated tax payments to t he IRS, the due date for t he April 1 – May 31 quart er of the year is June 15 th, 2022.

If you are a U.S Citiz en or Green Card Holder living abro ad or in active military service a nd have not filed your taxes y et, the deadline is also on Ju ne 15th.

For payments made using IRS Dire ct Pay, you can make payments unt il 8PM EST, and for payments usi ng a credit or debit card, paymen ts can be made up to midnig ht on the due date.

Timeline photos 05/31/2022

IRS Issues Answers to FAQ Abo ut 2021 Child Tax Credit (3/3)

Q: Wh at happens if two different taxpayers claim ed the CTC for the same qualifyi ng child?

A: In some cases, a chi ld meets all the IRS tests to be a qualifyi ng child for multiple taxpayers. Generally, howev er, only one taxpayer may claim t he child for the CTC. As a resu lt, the IRS may reject a retu rn because the taxpayer claimed the C TC for a child already listed on a retu rn filed earlier by someone else. If th is situation arises with your return, y ou will need to submit a pap er return instead of filing electronically. Y ou will then receive an IRS noti ce detailing next steps, so that I RS personnel can determine which taxpayer m ay actually claim the credit.

05/30/2022

TODAY IS THE DAY!! Make su re you stop by! 🥳🥳🥳

Job Fair wi ll be located at the Demopolis Civ ic Center (501 N Commissioners Ave, Demopol is, AL 36732)

If you are interested in attendi ng the Job Fair on June 15 th, 2022, make sure you are register ed with www.alabamaworks.alabama.gov.

Below you will fi nd instructions on how to register.

Sign/ or register into to your account, cli ck "Dashboard", scroll down to "Current month 's events", click job fair, Event offi ce: Demopolis Career Center, Event category: J ob Fair, Click the month of Ju ne, click June 15th date, scroll do wn and click register.

*Note: If you a re already registered in ALAWORKS, but ha ve forgotten your username/password contact the Demopol is Career Center (334-289-0202) for your log in information.

Timeline photos 05/23/2022

IRS Issues Answers to FAQ Abo ut 2021 Child Tax Credit (2/3)

Q: H ow do I respond to a noti ce saying that the IRS changed t he CTC amount on my return?

A: If y ou agree with the change made, y ou do not need to respond at a ll. However, if you believe the I RS made a mistake, you can ca ll the number shown on the lett er you received. Remember, you have t he right to appeal any IRS decisi on.

Timeline photos 05/16/2022

IRS Issues Answers to FAQs Abo ut 2021 Child Tax Credit (1/3)

The maxim um credit amounts and income limits f or the Child Tax Credit differed in 2021 fr om other years. In addition, many taxpaye rs received advance CTC payments, and h ad to reconcile these payments with the ir actual credit amount on their 2021 t ax returns. The IRS recently provided informati on to help taxpayers who still ha ve questions about their 2021 CTC.

Q: I fil ed my return electronically but made a mista ke reconciling my CTC. What should I do?

A:
Wait to hear from the I RS, and understand that the processing of yo ur return may be delayed. DO N OT file an amended return. In mo st cases, IRS personnel will simply corre ct your CTC amount and adjust yo ur refund amount or amount of t ax you owe accordingly. You will recei ve an official IRS notice by ma il that explains the change.

Location

Telephone

Address


211 E Coats Ave
Linden, AL
36748

General information

We prepare all types of inco me tax forms. Our services also inclu de bookkeeping, payroll, payroll reporting and sal es tax reporting. We also offer traini ng so that you can learn to ke ep your own books and prepare a ll of the necessary forms for yo ur business. We can start out managi ng all of your bookkeeping and payro ll and turn it over to y ou when you are ready.

Opening Hours

Monday 9am - 3pm
Tuesday 9am - 3pm
Wednesday 9am - 3pm
Thursday 9am - 3pm
Friday 9am - 3pm
Other Tax preparation in Linden (show all)
H&R Block H&R Block
110 W Coats Ave
Linden, 36748